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Equis Energy (formerly Soleq), the Taiwan subsidiary of Singapore-based Equis, which is Asia’s largest renewable energy developer and investor, has won an open bid for constructing a PV power station on a disused salt farm in central Taiwan at a price under NT$3 (US$0.1) /kWh for selling generated electricity to state-run Taiwan Power Company, according to industry sources.
The bid Equis Energy has won is part of a Bureau of Energy project to construct PV power stations with total installation capacity of about 700MWp, with attached strings that the winners must adopt Taiwan-made high-efficiency PV modules and Taiwan-based EPC (engineering, procurement, construction) contractors, the sources said.
There were four competitors in the final round of the bidding: Equis Energy, Taiwan-based Sinogreenergy and two other local companies. Soleq won a bigger portion in terms of installation capacity while Sinogreenergy won the remaining. The two losing companies offered about NT$4.5/kWh.
Judging from international financing conditions and prices quoted by the local PV supply chain, Equis Energy’s low price means it may incur losses from the investment, the sources said.
Some local PV firms speculated that Equis Energy’s motivation of winning the project is to facilitate the parent company’s international carbon emission trading in the future.
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