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Taiwan aims to install 20GW of solar capacity by 2025, luring overseas investment. U.S.-based company I Squared Capital announced the acquisition of Taiwan’s GermanSolar Asia and targets to add 500MW of solar capacity over the next three years on this island.
I Squared Capital has experience in investing in 5GW of solar projects around the world. By acquiring all stake in GermanSolar Asia, I Squared Capital will form partnerships with Taiwan’s local PV supply chain and PV project managements to develop its solar business in Taiwan.
Furthermore, I Squared Capital plans to increase GermanSolar Asia’s capital to TW$600~1,000 million.
With I Squared Capital’s experience and financial supports, GermanSolar Asia plans to add 500MW of solar projects in Taiwan over the next three years, while the five-year investment could further amount to over one hundred billion Taiwan dollars.
In Taiwan, GermanSolar Asia has developed a 1MW rooftop PV project and has invested in developing Taiwan’s first floating PV project built in a reservoir. The floating PV project, allocated in Agongdian Reservoir in Kaohsiung in southern Taiwan, will be constructed in two phases. The 2.32MW first phase will be completed by the end of this June, while the second phase will be expanded to above 10MW.
(Photo: Agongdian Reservoir. Source: Maintenance Office, Public Works Bureau of Kaohsiung City Government)