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HD Renewable Energy Establishes Largest Energy Storage in Taiwan at 200MW with Activation in 2023

published: 2022-03-30 9:30

Smart energy supplier HD Renewable Energy has been aggressive in the deployment of commercial opportunities for energy storage, and announced today (30th) that it will be developing the largest energy storage site in Taiwan at Liouying District of Tainan, which is expected to activate in 2023.

As pointed out by the report of market research agency InfoLink, the Taiwanese energy storage market is anticipated for a sizable degree of growth in 2023, before exceeding 1GW/3GWh in accumulated capacity during 2025, and continues to march towards a market scale of NT$200 billion in 2030.

HD Renewable Energy joins hands with industrial partners on co-developing the 200MW energy storage site at the Liouying District of Tainan, which is expected to provide stable automatic frequency control (AFC) services for energy storage. The single energy storage of 204MW also broke record in the application category of energy storage in Taiwan. Having now acquired the parallel review submission of TPC, the site is scheduled to activate in 2023. 

Chou Shi-chang, General Manager of HD Renewable Energy, commented that the energy business of the company currently comprises of power generation, energy storage, and electricity sales, and this “Golden Triangle of Green Electricity” is expected to perfect market activities of green power and stable provision of electricity through a collocation with optimized smart management systems, which advances towards the company’s target of net zero emission solutions.

On the other hand, HD Renewable Energy will continue to cultivate in fishery and electricity symbiosis by assimilating its existing insurance partners, and place priority on integrating nearby fish farms in Budai Township and Yizhu Township amidst fading out of land alteration cases and contending of southwestern coastal fish farms. A total of 250MW of PV sites built on top of fishery and electricity symbiosis will be established on more than 300 hectares of fish farms, becoming the largest complex fishery and electricity symbiosis project in a single region for Taiwan.

HD Renewable Energy hosted a board meeting on the 28th, which approved the 2021 financial statements that indicate a combined annual revenue of NT$2.68 billion under a YoY growth of 16.6%, with an EPS of NT$3.02, thus breaking the record of the company. In the mist of stable development in overall businesses, the successful progress of various major PV sites this year, as well as the schedule and revenue of partial sites last year that have been delayed to Q1 this year, would contribute to the annual revenue and profitability for 2022. Businesses of charging piles and energy storage are also successively sprouting this year, which benefit long-term operational performance, and infuse dynamics to the listing application at the end of this year.

The board of HD Renewable Energy also voted and approved the proposal of increase in cash capital, and is expected to fundraise NT$1.2 billion, as well as issue 15,000 common shares worth NT$10 each, with an issue price temporarily set at NT$82.

 (Cover photo source: HD Renewable Energy)

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