The European Chamber of Commerce Taiwan's (ECCT) Low Carbon Initiative (LCI), in conjunction with China Petroleum Corporation (CPC) and partners in government and industry, has conducted research for the report "Energy for the Next Generation - Shaping Taiwan's Energy Transition" to be launched at this Premium Event. The report provides a summary of Taiwan's energy status in a global context and the prospects for its transition. This includes an examination of the risks and challenges, such policy stability and grid infrastructure that will need to be overcome if Taiwan is reach its renewable energy targets, as well as the prospects for Taiwan of developing into a service- and- supply hub for renewable energy in the Asia Pacific region.

In addition, the report features Taiwan energy policies and renewable deployment plans provided by Taiwan's Bureau of Energy (BOE) and Taiwan Power Company (TPC) that could be implemented to help shape Taiwan's energy transition.

The Taiwan government has established clear goals for Taiwan's energy transition with milestones to meet the target of 20% of electricity generation from renewables by 2025 to be derived mainly from 20 gigawatts (GW) of solar photovoltaic installed capacity, 5.5GW of offshore wind and 1.2GW of onshore wind. Along with the plans, the government has started to support the development of the necessary harbour and electricity grid infrastructure necessary for the build out of grid connections for wind farms. A case in point is the wind energy sector, which has already drawn multiple European companies across the supply chain to set up regional Asia Pacific operation centres in Taiwan. If others follow, this has the potential to create thousands more jobs for Taiwan's next generation.