News Life and Health06 Dec 2017

Taiwan:Insurers and FIs encouraged to invest in green energy

06 Dec 2017

The Taiwanese Cabinet has relaxed regulations governing the financial sector to encourage investment in green energy development, Premier William Lai has said.

Taiwanese insurance companies have invested about NT$5.35 billion (US$178.3 million) in the renewable energy sector, while financial institutions are expected to invest up to NT$1.5 trillion after the Cabinet eased regulations earlier this month, reported The Taipei Times citing Mr Lai.

The government aims to produce 3 gigawatts of electricity from solar energy by 2020 through a policy encouraging the installation of solar panels on household rooftops, he said. The government also plans to have 4.2 gigawatts of electricity generated from offshore wind farms by 2025.

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