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Taipower Chairman Huang Jung-chiou says that the cooperation between Taipower and Saudi Arabia will be a benchmark for the Ministry of Economic Affairs to strengthen the structure of exports in Taiwan, as well as to raise the gross profit margin.
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Taiwan Power Company (Taipower) along with Taiwanese solar power stations have visited Saudi Arabia and signed an MOU with the Saudi Electricity Company in September. Taipower Chairman Huang Jung-chiou says they are not just going to sell things there, but also build a solar power station.
Technews reports, UK’s Financial Times reports on May 21, 2015, the world’s largest crude oil-exporting country, Saudi Arabia, said that it would phase out fossil fuels by 2050. Saudi Arabian Minister of Petroleum and Mineral Resources Ali-al-Naimi says he does not agree that low oil prices will make solar power less economically beneficial. On the contrary, he believes that solar power will be more profitable than fossil fuels.
He says Saudi Arabia has realized that they have to stop using fossil fuels one day. Therefore the country has resolved to become the global leader in solar and wind power. In the future, they will replace fossil fuels with electric power as their main export product. Saudi Arabia is the Middle East’s largest oil consumer with more than 25% of crude oil production (more than 1 million barrels per day) remaining in the country for usage.
UDN reports, Huang says that with the promising future of the development of renewable energy facilities in Saudi Arabia, Taipower and Saudi Electricity Company signed an MOU in September. They look forward to further exchanges regarding personnel training and technology in building facilities.
Huang says the current chairman of Saudi Electricity Company was a graduate student in National Taiwan University and has basic understandings about electricity supply and facilities in Taiwan. Through the MOU, he expects to accelerate bilateral cooperation and exchanges.
CNA reports that Huang believes Taipower can provide professional advice regarding power transmission and distribution facilities. They are now evaluating the possibility of building a solar power station in Saudi Arabia.
However, he says Saudi Arabia and Taiwan have had no interaction for a long time. Taipower must first understand the detailed plans and current regulations in Saudi Arabia. It’s still hard to tell whether the plan will be carried out.
Apple Daily reports, Huang also says that the cooperation between Taipower and Saudi Arabia will be a benchmark for the Ministry of Economic Affairs to strengthen the structure of exports in Taiwan, as well as to raise the gross profit margin. Taipower explains the Ministry of Economic Affairs hopes to transform Taiwan’s old economic pattern from being the OEM for electronic devices into the provider of systematized products and services, expanding new realms for exportation.
Translated by Vic Chiang
Edited by Olivia Yang