Image: Jadon Kelly, Unsplash
US companies Elapath Energy and RenewableErgon are teaming up to develop a 150 MW solar project in Taiwan. The $250 million project will be built in Budai, Chiayi County.
Work on the first phase of the project is expected to start next month, following regulatory coordination with the Taiwan Energy Administration, Ministry of Economic Affairs (MOEA), with a target of completion in February 2025. Once completed, the project is expected to generate solar energy for 30,000 homes.
RenewableErgon is a blockchain-based platform that uses smart contracts, dynamic electricity prices, investments and deployment in sustainable energy projects.
According to its website, the company has co-developed large-scale solar projects in Cambodia, Singapore and Taiwan in which investors can participate by purchasing energy shares per kilowatt hour, with a minimum investment of $5,000.
Figures from MOEA show that Taiwan added 2.7 GW of new solar capacity in 2023, bringing the total capacity to 12.41 GW by the end of 2023.
The Taiwanese government has set a target of reaching 20 GW of renewable energy capacity by 2030 and achieving net zero emissions by 2050.
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