Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 270
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energy generation facilities, power storage
facilities or purchase of renewable energy
or Taiwan Renewable Energy Certificate
("TREC"). Such obligation is provided with
a five-year grace period. The Users will face
annual delinquency fees in case of failure to
comply. The MOEA will conduct a biannual
review from 2023 regarding the scope of the
Users.
An additional incentive is provided to those
Users who had installed renewable energy
facilities prior to the promulgation of the
Regulations. In such case, the Obligated
Installed Capacity can be reduced by the
already installed capacity to the extent that
the reduced amount does not exceed 20%
of the original Obligated Installed Capacity.
After the promulgation of the Regulations,
another 20% reduction in the Obligated
Installed Capacity will be granted if a User
(i) sets up renewable energy facility, (ii)
purchases renewable energy and/or TREC,
Taiwan
or (iii) sets up storage facility, with a capacity
("Renewable Capacity") of 80% of the Obligated Installed Capacity within three years
since the promulgation of the Regulations. If
the Renewable Capacity reaches 90% of the
Obligated Installed Capacity in four years,
the Regulations further offer a 10% reduction in the Obligated Installed Capacity.
According to our informal consultation
with the BOE, the incentives provided for
installing renewable energy facilities prior
to the promulgation of the Regulations and
reaching the Obligated Installed Capacity
after the promulgation of the Regulations
may apply simultaneously.
