TECO Forays Into Optical Storage via 100% Acquisition of Taipeng Energy

TECO Electric & Machinery Co., Ltd. signed a contract with Shine Energy Co., Ltd. today (Jan. 16), according to which the former's subsidiary Anneng Green Energy Co., Ltd. will make 100% acquisition of the latter's subsidiary Taipeng Energy Co., Ltd., marking further inroads of TECO Group into the realm of green power.

Sophia Chiu, TECO chairperson, pointed out that the takeover will enable TECO to step into the investment and installation of PV power facilities, which, along with the company's existing energy storage and management systems, will pave the way for the company to foray into the huge market of power operation. She noted that given the market trend of optical storage in the wake of power market liberation, TECO will gradually develop capability in energy management, such as power-plant management and power maneuvering, at a significant scale.

Taipeng Energy, the takeover target, has installed PV power facilities totaling 2 MW in capacity, with several projects underway, including rooftop PV power devices in Taichung City, police station rooftop PV power facility in Kaohsiung City, and campus rooftop PV power facility in Penghu. The company expects to boost the accumulated capacity of its PV power facilities to 10-15 MW by the end of 2023, according to Hsu Chia-nan, chairman of Shine Energy Co., Ltd. , adding that the company may further expand its collaboration with TECO in renewable energy in the future. 

In line with its 10-year target of halving its emission by 2030, TECO has spared no effort in expanding its presence in the green power market in recent years, such as installation of rooftop PV facilities for all of its Asian factories, securing of the turnkey project of 60 MW energy storage system of state-run Taiwan Power Company in Lungtan, Taoyuan City, and development of such key power equipment as high-voltage gas insulated switchgear and digital grid.

The takeover Taipeng Energy will enable TECO to expand the scale of the PV power facilities under its management, serving as the field for the verification of the PV products it develops and augmenting its capabilities in energy storage and management, as well as power-plant management and operation, according to TECO.

Since its inception 10 years ago, Shine Energy Co., Ltd. has installed PV power facilities spanning 100,000 pings (1 ping equals 3.3 square meter) in space, a brilliant track record which has won its such honors as excellent PV power facility operator in Taichung City and designated PV facility supplier by Kaohsiung City Police Bureau, as well as a designed rooftop PV power facilities supplier for the buildings of central government agencies in Hualien County