Taipei, Taiwan(February 20, 2024)The Ministry of Economic Affairs hosted the Second Taiwan International Geothermal Conference today, and invited esteemed speakers from the United States, the United Kingdom, Sweden, Italy, Japan, and New Zealand to share their expertise on various aspects of geothermal development, including cutting-edge technologies, power plant operations and project management practices. The forum, conducted through a combination of physical conference and online live-streaming, attracted over 47 international companies and more than 600 domestic representatives from industry, government, academia, and research. This event contributed to a significant advancement in Taiwan's geothermal development and increased Taiwan's prominence on the global green energy stage.
The forum commenced with a pre-recorded speech by Premier Chen Chien-jen, highlighting Taiwan's successful installation of 7.29MW of geothermal energy. This milestone, a proof of collaborative effort between state-owned enterprises and private companies, laying out a robust foundation for future achievements. Last year, Taiwan amended the Renewable Energy Development Act to streamline the administrative procedures for geothermal development and expedite the review process for project approval. Furthermore, to encourage public participation, the amendments now mandate consultation processes with indigenous communities and reinjection of used geothermal fluids to ensure sustainability of resources. This underscores the government's commitment to fostering a development-friendly ecosystem conducive to the advancement of the geothermal industry in Taiwan.
Deputy Minister of Economic Affairs, Tseng Wen-sheng, emphasized the importance of renewable energy in Taiwan's energy transition in his opening remarks, with geothermal energy serving as a reliable base-load power source unaffected by climate conditions. Taiwan currently has 24 geothermal sites across Taiwan under development or operation, with plans to achieve a total capacity of 61.75MW by developing sites across Datun Mountain area, Qingshui, Renze, and Tuchang in Yilan County, Ruisui in Hualien County, as well as Hongye, Jhihben, and Jinlun in Taitung County. The ambitious goal is to reach 6GW of geothermal capacity by 2050, with incremental targets of 20MW by 2025, 200MW by 2030, and 2GW by 2040.
Deputy Minister Tseng further stated that effective land management is crucial for geothermal development in Taiwan. Discussions with related ministries regarding land use, compensation, and regulatory management for directional drilling are ongoing. Furthermore, the government has introduced a "high-to-low" rate structure, offering developers a higher FIT in the initial stages to offset the initial costs associated with geothermal development. In addition, the Geothermal One-Stop Service Office has been established to provide the industry necessary support and guidance. Taiwan's efforts in the future will emphasize technological innovation to achieve the 6GW target by 2050.
The forum covered four main themes, including the current state of geothermal energy promotion in Taiwan, comprehensive reviews of geothermal development, advancements in geothermal power plant technologies, and insights into drilling technology and project management, concluding with an expert panel discussion. The Geological Survey and Mining Management Agency alongside the Energy Administration of the Ministry of Economic Affairs presented Taiwan's strategic approach to geothermal policy and how it is spurring private sector investment. Additionally, the CPC Corporation, Taiwan's national oil company, shared its strategy for pushing the boundaries of geothermal development and innovation. International experts contributed by highlighting the latest global developments and technological breakthroughs in geothermal energy, giving conference participants a glimpse into international trends. The afternoon's sessions brought in international experts to share their knowledge on drilling and project management, offering local companies' valuable strategies for optimization of drilling operations and project scheduling.
The highlight of the forum was a panel discussion led by Director-General Yu Cheng-wei of the Energy Administration and featuring both local and international geothermal developers. The dialogue focused on models of cooperation in geothermal development in Taiwan, prerequisites for collaborating with Taiwanese firms, and the government's initiatives to simplify the project approval process alongside measures designed to stimulate private investment. The overall goal is to attract more foreign investors to Taiwan, thereby accelerating the growth of its geothermal energy sector and establishing a comprehensive industrial ecosystem.
On the second day of the international conference (February 21), three specialized workshops were held, delving into drilling technology, geothermal development solutions, and exploration techniques and equipment. Furthermore, a visit to the Sihuangziping Pilot Geothermal Power Plant was arranged to provide international guests with a first-hand look at Taiwan's geothermal development through close, in-depth interaction and on-site exploration.
Spokesperson: Lee Chun-li, Deputy Director-General, Energy Administration, Ministry of Economic Affairs, Taiwan
Contact Phone: +886-2-2775-7700; +886-936-250-838
Email: chunlee@moeaea.gov.tw
For Business Inquiries Contact: Lin Wen-hsin, Division Director, Energy Administration, Ministry of Economic Affairs, Taiwan
Contact Phone: +886-2-2775-7716; +886-912-578-534
Email: whlin@moeaea.gov.tw