Solarvest looks to expand further in Taiwan’s clean energy market

Clean energy expert Solarvest Holdings has established a new office for its wholly-owned subsidiary, Solarvest in Taipei, Taiwan, with the strategic intent to strengthen its market presence and explore clean energy project opportunities in the country.

As a clean energy expert with a multi-national presence across Asia-Pacific, Solarvest engages across the clean energy value chain encompassing development, financing, engineering, construction, operation, and maintenance of solar photovoltaic (“PV”) assets. With that, the group owns renewable energy generation plants with a cumulative capacity of approximately 100.0 megawatt-peak. Additionally, Solarvest has a proven track record with a clean energy capacity of 1.0 gigawatt (“GW”) for both completed and ongoing projects, which is set to be further bolstered by a robust tender book of approximately 2.5 GW.

Notably, Solarvest demonstrates expertise in the installation of large-scale solar plants (“LSS”), as exemplified by the installation of a 50.0 MW large-scale solar farm for Malaysia’s utility provider, TNB Engineering Corporation Sdn Bhd. Aligned with the growing adoption of clean energy across the commercial and industrial (“C&I”) rooftop project landscape, the group’s portfolio boasts services provided to a diverse multinational clientele. This includes the monumental rooftop solar PV project with NEFIN Group and Petroliam Nasional Berhad (“Petronas”), to power up a total of 27 outlets of the renowned hypermarket chain, Lotus’s Malaysia. Having worked with NEFIN Group on several successful solar projects, Solarvest is extending its partnership with NEFIN Group to further develop projects across the Asia Pacific region.

Going beyond solar, Solarvest is venturing into new sustainable solutions across the clean energy ecosystem, such as energy efficiency (“EE”) solutions, energy storage systems (“ESS”), low-carbon mobility (“EV”) ecosystem, renewable energy certificates (“REC”), green hydrogen, and green data centres.

Solarvest has an active pipeline of projects in Taiwan, supported by 200.0 MWp of clean energy project opportunities. Following the Group’s previous collaboration with Taiwan-listed solar investor and contractor company, Hsinjing Holding Corporate Limited (“Hsinjing”) to develop solar projects, the establishment of STCL further solidifies its foothold in Taiwan and opens opportunities for ventures into other renewable energy sources such as wind energy throughout the country.

Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong said, “We are excited about our recent expansion into the Singapore and Brunei markets, and our foothold in Taiwan will further strengthen the Group’s regional presence. Taiwan presents a promising landscape for Solarvest’s expansion, driven by the nation’s ambition to achieve 30.0 GW of solar energy and 20.7 GW of wind energy by 2030 and 2035, respectively. Currently, Taiwan’s solar energy generation stands at around 11.0 GW, while wind energy production is at 6.0 GW, revealing tremendous potential for our Group to further advance Taiwan’s renewable energy ambitions.”

“At Solarvest, we remain committed to being a trusted partner in supporting the global energy transition towards a sustainable future. As Solarvest advances ahead, we are transforming into a holistic clean energy developer, actively participating as an asset owner or co-developer in our overseas projects. In tandem with the Group’s 5-Year Strategic Roadmap, we are also exploring other clean energy sources, particularly in the development of wind energy projects alongside our focus on solar projects in Taiwan,” Mr. Davis added.

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