Taiwan has reduced its feed-in tariff (FiT) for offshore wind projects signing 20-year power purchase agreements (PPAs) in 2021 by 8.5%, compared with 2020 rates.
The FiT cuts, confirmed by the Ministry of Economic Affairs today, are in line with those proposed by the ministry in December.
Advertisement
The main rate for projects signing 20-year PPAs from 1 January in 2021 is NT$4656.8 (€135.6) per megawatt-hour (MWh), down from NT$5094.6/MWh in 2020.
Projects also have a “ladder” option of NT$5306.4/MWh for the first 10 years and NT$3520.6/MWh for the second 10 years, down from NT$5801.5/MWh and NT$3822.7/MWh in 2020.
The government lowered 2020 rates by around 8% compared with 2019.