APSAA 亞太永續行動獎(Asia-Pacific Sustainability Action Awards )-Sustainability Action Award SDG8:Bronze
Taiwan Life Insurance Co., Ltd.
Riding the wind towards economic development: Hai Long Wind Farm Project Financing
As global warming becomes severe, the government has announced offshore wind power to be a focus of green energy policy. In 2020, Taiwan Life became the first insurance company to participate in a syndicated loan for offshore wind power. Recently, we participated in the Hai Long project which was signed in 2023, and NT$118 billion financing was obtained, making it the largest offshore wind power project in Taiwan and Asia-Pacific. The project plans to add 1,022MW of installed capacity, which can meet the electricity demand of 1 million households, and reduce CO2 emissions by 2 million tons per year. The project also takes into account the importance of economic development. For example, Hai Long has allowed Siemens to turn their Taichung plant into the only fully offshore wind turbine nacelle assembly plant in Asia, creating numerous job opportunities and expanding renewable energy industry. The project has also signed a memorandum of understanding with universities, and committed to improving local Taiwanese talent and international competitiveness.
As global warming becomes severe, the government has announced offshore wind power to be a focus of green energy policy. In 2020, Taiwan Life became the first insurance company to participate in a syndicated loan for offshore wind power. Recently, we participated in the Hai Long project which was signed in 2023, and NT$118 billion financing was obtained, making it the largest offshore wind power project in Taiwan and Asia-Pacific. The project plans to add 1,022MW of installed capacity, which can meet the electricity demand of 1 million households, and reduce CO2 emissions by 2 million tons per year. The project also takes into account the importance of economic development. For example, Hai Long has allowed Siemens to turn their Taichung plant into the only fully offshore wind turbine nacelle assembly plant in Asia, creating numerous job opportunities and expanding renewable energy industry. The project has also signed a memorandum of understanding with universities, and committed to improving local Taiwanese talent and international competitiveness.