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Two Resolutions by Tatung Board for solar related investments in phases

Feb 02, 2018 | By CENS | TATUNG CO., LTD.

After the resolution by Tatung Board to invest 40MW solar power plant in Tainan Chi-Gu fishery and solar special zone on Dec. 21, 2017, the Board further resolved to invest another 80MW solar power plant in the same Zone on February 1, 2018, with the accumulated total capacity up to 120MW. In order to accommodate large-scale solar power plant, we need to build high-voltage substations and related facilities to connect to Tai-Power's power grid. The infrastructure requires large scale solar capacity to optimize the investment returns.

Therefore, we will seek for more sites to build up solar plant down the road. We can then build Tatung into a big player in solar systems and generate long-term steady income for the company.When we engage more, we will submit to the board for approval later on.

Due to the huge capital requirements, Tatung not only needs to apply for cash capital increase, but also intends to join financial investors to establish joint venture company to invest and own solar power plants. This will help Tatung accelerate the development of large-scale solar power plants with long-term and stable capital. In the Board meeting today, the board passed the resolution to allow the company to participate in the joint venture investment with not more than NTD 1.6 billion.

Up to the end of 2017, Tatung has completed installment over 70MW to collect electricity income from Tai-Power company. With government policy to encourage renewable energy, Tatung will continuously acquire mega-scale solar power plant projects, based on our strong track records in solar power plant and integration capabilities in high-voltage substations.

After the establishment of mega-scale solar power plant, Tatung will develop micro-grid and energy storage system to better manage our own systems as well as more efficient connections with the power grid. This will become a new core business in the long run for Tatung.


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