Taiwan’s CSBC Corp. aims to launch three new companies to penetrate the regional offshore wind energy sector

CSBC Corporation, Taiwan, the region’s largest shipbuilder, headquartered in Kaohsiung, has recently announced its ambitious plans to establish three major companies, specializing in wind turbine working vessels, underwater infrastructure construction, and maritime engineering respectively, somewhere around the first quarter of 2018. This strategic decision has apparently come to fruition with the company’s sole ambition to penetrate the regional offshore wind industry, given that this business space has been experiencing robust growth in the last few years, and is likely to present a host of lucrative opportunities.

As per reports, CSBC Corp. has already conceptualized a plan of action, and has all the teams and companies in place. With its arsenal at its disposal, the company has been looking forward to expand its technology scope in the maritime engineering domain. Eventually, the company aims to construct a complete value chain for the offshore wind sector. Besides these already conceptualized business models, CSBC is likely to look out for five highly professional teams for the maintenance of the proposed wind farms in tandem with the regional firms.

CSBC’s decision follows the lines of the profitability landscape of the offshore wind power industry in Taiwan, which can be officially credited to the Government's green energy policy. If reports are to be believed, the Taiwanese government aims to construct sufficient offshore wind farms that will be equipped with the potential to generate 520 MW of power by 2020 and approximately 3 GW of electricity by 2025.

In a bid to support its ambitious goal of becoming a crucial offshore wind energy market player, CSBC has recently joined hands with CIP (Copenhagen Infrastructure Partners) and has signed a Memorandum of Understanding (MoU) with Hai Long Offshore Wind Farm Project Office in August. The latter, for the record, is actually a strategic joint venture formed in the year 2015, by the Singapore-based company - Yushan Energy Co. and the Northern Power Development Co., based in Canada, in order to enable the deployment of around 100 or more wind turbines at two pivotal offshore sites in Taiwan.

For the record, Taiwan’s Ministry of Economic Affairs Bureau has resourceful plans up in its sleeve – the organization aims to complete the installation of 1000 wind turbines by the end of 2030, demonstrating its support for the Government’s decision to manufacture more than 4 GW of electricity through offshore wind. In the event that CSBC’s projects are fulfilled as planned, the Government’s aim is likely to be accomplished soon, say experts.

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website content writing, content auditing, tech w...

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