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Spearheading Localised Excellence in Taiwan’s Renewable Energy Sector

The offshore and onshore energy sector in Taiwan has experienced unprecedented growth, with a range of globally leading projects carving out the next generation of renewable energy development. With ambitious plans to ensure 20% of the country’s energy needs are fulfilled by renewable sources by 2025, rapid development is underway to ensure the goal of net zero is met by 2050. 

At the forefront of this development are a range of investors and developers paving the way for new methods of innovation and experimentation in both onshore and offshore energy generation. As one of the world’s fastest moving and developing renewable energy markets, navigating this landscape is a complex yet exciting task. 

In 2023 K2 Management greatly broadened its expansion into Taiwan, offering services spanning due diligence & analysis, development & engineering and procurement. With deep expertise in the expansion of new markets, our expertise has seen us guide clients in a range of development tasks, including the completion of advanced energy yield assessments to help determine the future production of site revenues. Our expertise in the APAC region now extends to South Korea, Japan, Australia, Philippines, New Zealand, Thailand, and Vietnam in addition to Taiwan. 

“Our new locally registered company in Taiwan affirms K2 Management’s commitment to the extravagant growth we’re expecting to see in the country’s renewable energy developments,” says Scott Hsu, Country Director, Taiwan & Philippines. “We have a strong desire to provide expertise and consultancy in the country that is 100% local, delivered by those who have deep knowledge of the Taiwan market. We truly believe this is the key to success for our clients.” 

With localised, on-the-ground knowledge, supported by large international teams with a wealth of global renewable energy experience, our work to date has seen us offer engineering design services for some of the world’s most complex and industry-leading onshore, offshore and solar PV developments.  

2023 year saw us play a critical role in supporting the credit agreement signing of the Hai Long offshore wind farm in Taiwan, set to achieve a combined capacity of just over 1GW. As the north star of the Taiwanese government’s commitment to the clean energy transition, we have guided a range of stakeholders as Lenders’ Technical Advisor and Lender’s Environmental and Social Advisor, conducting technical due diligence throughout the development lifecycle in line with Taiwanese regulations. 

The extent of K2M’s work on the Hai Long project, demonstrates the depth of the market demand for comprehensive LTA and LESA services in the APAC region,” says Fraser Ibbotson, Head of Due Diligence, APAC. “The success of the project, to date, also proves the impact of having localised presence – working closely with stakeholders has truly helped to drive Hai Long’s successful financial close and cement it as one of the country’s leading offshore projects.” 

Considerable development in the growing Taiwanese renewables market has seen K2 Management strengthen its commitment since our local office’s founding over ten years ago. 2023 saw us bolster our support for developer and investor clients in the region, building out a range of projects to meet the country’s ambitious clean energy ambitions. “Taiwan’s early pioneering floating projects such as that of BlueFloat are a great example of forward-thinking innovation to meet ambitious renewable energy targets,” says Viktor Limas, Project Manager. “Regional engineering expertise partnered with the rapidly evolving regulatory structures we’re seeing in Taiwan for new floating wind technology is certainly setting the stage for future innovation here.” 

Our success to date in the APAC region has driven the exploration of K2 Management’s procurement services, which are expanding in Taiwan, the Philippines, Japan and Korea. With a focus on supply chain development, technical requirements and renderings on behalf of clients, we are supporting newcomers to the region - particularly those who are transitioning from a background in onshore and solar PV development and require expertise on the complexities of offshore and onshore procurement.  

“As we’ve seen to date, there are many specific challenges our clients face,” says Scott Hsu. “These also include complexities surrounding project financing. As Lenders Technical Advisor to a selection of lenders in relation to energy and engineering services, covering offshore, onshore and solar PV, our localised knowledge is ensuring the appropriate adaptation of project plans to ensure the smooth running of deals.”  

A number of challenges are now present as a result of APAC’s fast-paced market growth. In particular, these include a range of supply chain difficulties encountered by developers in the face of a growing number of projects. As a result, our experienced consultants are running procurement services in the region on behalf of developers to help mitigate existing communications challenges with supply chain stakeholders. Similarly, in Taiwan, our services are expanding into permit sourcing and extended planning capabilities for a mix of offshore, onshore and solar PV clients. 

As the market continues to rapidly develop, our broad expertise from a group of local and international advisers is assisting with the innovative development of some of the most advanced and complex projects in the sector.

For more information about our regional APAC expertise, reach out here: