J&V Energy Offshore Wind Farm Delivers Good News: Operations in 2023 Set to Grow with Multi-Pronged Approach

Offshore Wind Energy
J&V Energy (6869) has received great tidings on the last day of work in 2022, hot on the heels of its recent approval for listing on the TWSE Taiwan Innovation Board. The Bureau of Energy, Ministry of Economic Affairs (MOEA) announced the results of the Phase 1 Offshore Wind Energy Zonal Development  Vendor Selection and Capacity Allocation, in which J&V Energy and the Offshore Wind Power Taiwan Team (Taiwan Team ) were jointly allocated 495 MW for the Formosa 4 (Hai Sheng) site, with grid integration expected to be completed by 2027.
According to the MOEA, in line with the Directions of Grid Capacity Allocation for Offshore Wind Energy Zonal Development  and after undergoing Financial and Technical Capability Review, Industry Linkage Review, and Competitive Price Ranking, outstanding potential operators are selected and officially notified to initiate the subsequent administrative and engineering operations.
In recent months, members of the Taiwan Team have been actively participating in development progress meetings. These meetings serve as a platform for exchanging opinions on industry updates, policy directions, and regulatory adjustments. Through reciprocal information sharing, the Taiwan Team can make the best judgments and informed decisions, demonstrating their determination for localizing offshore wind power and contributing to industrial and regional development. Chao Shu-Min, president of J&V Energy, pointed out that solidarity and unity is the only way for the Taiwan Team to stand out in a market landscape dominated by large multinational players; Phase 3 presents a compelling opportunity for the Taiwan Team, and it is only fitting that Taiwanese people should develop Taiwan’s wind farms.
“The capacity allocated in this selection is not the end point. There are bigger and more challenges ahead, and each step needs to be more precise and rigorous,” Chao added. The Taiwan Team is committed to fulfilling its mission of completing wind farms and contributing to the government’s energy policies, while also driving the participation of the domestic offshore wind industry chain in the construction of offshore wind farms.
In addition to offshore wind power ventures, J&V Energy has been gradually integrating its fishery and electricity symbiosis projects in Beimen, Tainan, into the grid. The company’s subsidiaries have also achieved impressive business results through energy storage projects, green energy trading, and sewage treatment. Looking ahead to the new year, the company aims to reach new heights in the comprehensive renewable energy market and secure greater success in its endeavors.