For a Future with Mass Installation of Renewable Energy
KAWASAKI, Japan, Feb. 11, 2021 /PRNewswire/ — Japanese industry giants JA Mitsui Leasing, Ltd. and Toshiba Energy Systems & Solutions Corporation have made the decision to invest in Taiwan’s Photon Energy Power Corporation with JA Mitsui and Toshiba to contribute to the expansion of renewable energy in Taiwan through participation in PHOTON’s photovoltaic (PV) project.
Taiwan has set a target to install 20GW of solar plants by 2025 and is aiming for 27GW by 2030.
Furthermore, the current regulated feed-in tariff (FIT) system for renewable energy in Taiwan, including PV, allows investors to expect a stable return on this investment through which JA Mitsui Leasing and Toshiba ESS aim to understand and grasp the energy policies, business circumstances, and challenges ahead for further business development related to renewable energy in Taiwan.
Following the announcement PHOTON has decided to set up a PV plant investing fund in Taiwan while continuing to develop PV plants in all parts of Japan, not only through the use of the FIT system, but through power sales to retail electric companies and corporate power purchase agreements (corporate PPAs) through which the firm hopes to achieve grid parity and a society that has sustainable clean energy.
JA Mitsui Leasing, following the decision to invest in “Photon Taiwan Fund, LP,” will be developing and managing PV plants in Taiwan.
Toshiba meanwhile is developing the Virtual Power Plant (VPP) business.
Following this investment, the firms will investigate further the business of renewable energy and VPPs in Taiwan and other Asian regions.
