Taipei-based home appliance maker Tatung Company (大同股份有限公司) announced that it will invest in a solar power plant in Tainan’s Cigu District, Apple Daily reported.
The planned PV power plant is expected to product 40 MW of power, which is enough to power 6,550 homes.
In order to finance the project through Tatung’s special purpose vehicle called Tongyang Energy Co. (同陽能源股份有限公司), the company is set to issue no more than 500 million shares.
The project still requires administrative approval from the Bureau of Energy as well as county and municipal governments.
In light of recent air pollution warnings around Taiwan as well as protests calling for government action to improve air quality, the government is seeking renewable energy sources to replace coal and nuclear power plants. In addition, Premier William Lai (賴清德) said that all buses in the country should be electric by 2030, following a cabinet meeting Thursday.
As of 2016, Taiwan had 1,210 MW of installed solar capacity.