Sweden is leading the global transition to sustainable solutions and is set to play a key role in Taiwan’s transformation as one of Asia’s leading suppliers of wind powered energy. Taiwan’s Government have set ambitious offshore wind installation goals, setting up significant opportunities for Swedish companies across the value chain.
Global offshore wind power installation is set to increase sevenfold by 2030 with Asia at the heart of the boom with the largest number of installations in the region. Taiwan is a hotspot, ripe for international investment and developers. Investment from Taiwan supports the government goal to become the second biggest offshore market in Asia. Swedish companies from across the wind power value chain can grow their market share aided by Taiwan’s attractive regulatory framework, high percentage of international players and strong sustainability focus.
Become part of the Wind Power Alliance and be a growing force in Taiwan’s wind power sector. Grow your business in the region alongside the world’s leading wind power companies.
Swedish companies are global leaders across the whole renewable energy value chain with expertise in sustainability, innovation and reliability. Despite high global rankings both in percentage of total renewables and growth of renewable energy sources, Sweden has set ambitious goals for renewable energy use and output. These targets are fuelling growth across the entire sector and strengthening all market players including developers, engineers, financing and material solutions. Many Swedish companies see Taiwan and the wider Asia region as the next step in international expansion.
The Swedish Wind Power Alliance aims to increase collaboration between the Swedish and Taiwanese wind power sectors. With a primary focus to facilitate Swedish and Taiwanese trade and investment within the offshore wind and renewable energy sector, the Alliance provides a platform for sustainable energy collaboration.
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Taiwan’s ambition to transition to a more sustainable energy supply will see over 5GWs of offshore wind capacity constructed between 2019-2025. While there is a goal of installing around 1,000 turbines along the island’s west coast, the potential harm to marine life through noise pollution is a major factor which needs to be considered. Working with sub-contractors and partners, Atlas Copco have co-created an innovative and sustainable solution to counteract the noise pollution. The solution uses portable, 100% oil-free air compressors that create a ‘bubble-curtain’ around the construction site. This solution has reduced noise pollution by up to 90%.
By applying what is already a standard approach in Europe, Taiwan is actively demonstrating its commitment to sustainable development of the wind-industry. Atlas Copco has been awarded projects to supply oil-free air for bubble curtains during phase 2 construction of the Formosa 1 project. Additionally, Atlas Copco is supplying generators on one of the installation vessels which provides temporary power during the wind turbine installation period.
As a long-term partner with extensive experience in international financing and offering long credit periods, SEK finances Swedish exporters and buyers of Swedish products and services. SEK compliments the client companies’ existing borrowing sources and serves as an alternative for Swedish exporters who require access to multiple alternative sources of financing. For international buyers who collaborate with Swedish companies, SEK can help with financing 100 percent of the total lend. All proceeds from loans provided to international buyers are used to buy Swedish goods and services.