Taiwan's Ambitious Renewable Energy Goals: Opportunities for UK Innovators
Key Ideas
  • Taiwan aims to generate 60-70% of its energy from renewable sources by 2050 through a £22.3 billion investment, creating opportunities for UK companies in offshore wind, solar, and hydrogen power.
  • UK tech companies can collaborate with Taiwanese partners in areas such as spatial inventorying, grid infrastructure, PV recycling, and hydrogen power generation to meet Taiwan's energy targets.
  • The UK-APAC Tech Growth Programme assists tech companies in expanding into markets like Taiwan by providing market entry guidance, business development support, and connections with potential partners.
  • Taiwan's push for renewable energy due to reliance on imported fuel and global carbon taxation trends presents a promising landscape for UK companies with innovative renewable energy technologies.
Taiwan, heavily dependent on imported fuel for power generation in 2023, is now aiming to generate 60-70% of its energy from renewable sources by 2050, with a substantial investment of almost £22.3 billion. To achieve this goal, Taiwanese companies are seeking partnerships with UK innovators in offshore wind, solar energy, and hydrogen power. The island's focus on offshore wind is evident with wind energy capacity expanding significantly, along with a projected increase in solar capacity. Moreover, Taiwan is aiming for a hydrogen power capacity of 7,300 MW by 2050, presenting opportunities for UK tech innovators. The report underlines the importance for UK tech companies to understand Taiwan's regulations and market needs. It also highlights the rise of Taiwanese GreenTech startups seeking global partnerships, offering additional collaboration avenues. The UK-APAC Tech Growth Programme facilitates the expansion of high-growth technology companies into the Asia Pacific region, providing support in market entry strategies and business development. Ultimately, the collaboration between UK and Taiwan in the renewable energy sector is seen as a promising opportunity for both sides.
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