Taiwan’s Ministry of Economic Affairs has announced a 8.5% reduction of the feed-in tariff (FiT) for offshore wind projects signing 20-year power purchase agreements (PPAs) in 2021 as compared with 2020 rates.
The main rate offered by the ministry will be for projects signing 20-year PPAs from 1 January in 2021 is TW$4,656.8/MWh, down from TW$5,094.6/MWh.
Taiwan already cut the FiT by 7.6% for wind farm developers in 2020 compared with 2019 levels.
The ministry said the reductions reflect progress and consideration of international development trends.
Taiwan currently has two offshore wind farm projects in operation, three in the construction phase and another three are in the application process.