The Taiwanese Ministry of Economic Affairs has set feed-in tariffs (FiTs) for offshore wind projects signing 20-year power purchase agreements (PPAs) in 2021 at TWD4,656.8/MWh (US$166/MWh). This represents an 8.6% cut compared with the previous FiT rate set for 2020 (TWD5,094.6/MWh). Developers can choose a two-tier FiT of TWD5,306.4/MWh (US$189.3/MWh) for the first 10 years and TWD3,520.6/MWh (US$125.6/MWh) for the last ten years, down from TWD5,801.5/MWh (US$206.9/MWh) and TWD3,822.7/MWh (US$136.4/MWh) in 2020.
In November 2019, Taiwan presented plans to develop an additional 10 GW of offshore wind capacity between 2026 and 2035. The island already targets to build 5.7 GW of offshore wind capacity by 2025, as it aims to exit nuclear the same year.
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