The Sustainable Business and Socially Benefits

 Preface

Taiwan has relied on imports for 98% of its energy for decades and was highly dependent on fossil energy. Taiwan government has announced a goal to transfer at least 20% to renewable energy generation by 2025, expecting to achieve a safe and stable clean energy supply and demand system. In order to achieve this goal, the government decided to build offshore wind power as the major source and it is expected to provide 21.5 billion kWh per year. In addition to clean electricity, it can create a cumulative investment of approximately NT$1 trillion, around 20,000 jobs by 2025, and reduce carbon dioxide emission up to 11.92 million metric tons.

The Company

Ørsted A/S is the largest energy multinational company in Denmark. Its vision is to create a world that is completely operated by green energy. Ørsted A/S is committed to the development, construction, and operation of offshore wind power, land-based wind power, solar power plants, and provides clean energy products to customers. 

The Obstacles

Now, we have to take action to create a world that operates with green energy. It is an undebatable fact. Renewable energy is the key to a greener and cleaner future. Offshore wind power provides a more viable, efficient, and sustainable energy option to replace fossil fuels. We have to reduce the impact of climate change and offshore wind power can supply hundreds of millions of households in the future. However, there are several obstacles the company has to deal with.

i. COVID-19

The pandemic of COVID-19 has affected the supply chain of offshore wind power and slowed the development of offshore wind power resources. 2020 was expected to be a very critical year for Taiwan’s emerging offshore wind power industry. Many important offshore wind power developments will be complete this year. However, as COVID-19 was spreading, the supply chain and industrial production around the world were affected and the offshore wind power industry was no exception. 

ii. The Localization Policy

Taiwan's experience in offshore wind power is very limited and it almost entirely relies on foreign suppliers and workers. So, the offshore wind power professionals are largely from Europe. The government also intended to create new jobs while outsourcing the infrastructure. In addition, foster the local enterprises to join the industry to create a local supply chain.

iii. Shaping Consumer Attitudes in Taiwan

Why does Taiwan have the urgency to transfer the electricity system? Those infrastructures obviously cost a lot of money. Why the government must invest in this project? The taxpayers need an answer. 

The Sustainable Business and Socially Benefits

Although there are many obstacles, the company should try to find solutions and prepare a win-win strategy for both. For example, in the next seven years, it is expected that about 1,000 wind turbines will be built on the Taiwan Strait, which will drive investment of 962.5 billion NTD and over 18,000 new jobs. The annual power generation is 19.8 billion kWh, which supplies approximately 9% of Taiwan’s annual electricity consumption. It's also leading to the creation of an investment environment more favorable to sustainable business and generating new knowledge, skills, and mindsets for sustainable development.

Providing Incentives

Taiwanese government does not want to lose its control of the energy system since it is an extremely important infrastructure. Therefore, share the knowledge, skills, and the result with it and its people is an opportunity to earn trust. Start up a new company that registers in Taiwan and goes public can be helpful. Once the company is listed on TWSE(Taiwan Stock Exchange), many investors in Taiwan will be able to join the development and share the benefits.

Reference

關於離岸風電. Ørsted.tw - Love your home. (n.d.). Retrieved October 2, 2021, from https://orsted.tw/zh/about-offshore-wind.