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2017-11-09

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2017/11/09 
       In line with the active development of renewable energy, Taya Group and Hua Nan Financial Holdings signed a Memorandum of Understanding for a Strategic Alliance in the field of Photovoltaics on the 9th to promote the philosophy of preservation and harmony with our natural environment. Mutual assistance and sharing of resources serves the purpose of making a contribution to environmental sustainability and development of the green energy industry in Taiwan.
       Based on the goal of renewable energy development in Taiwan, it is expected that the accumulated installed PV capacity will reach 20GW by 2025. Photovoltaics accounts for almost 50% of renewable energy power generation. Taya Green Energy Technology, which is an affiliate of Taya Group, continues to expand its solar power plant business, while Hua Nan Financial Holdings supports industry development via its banking and insurance divisions.
       Taya Green Energy Technology Chairman Shen, Shang-Hung and Hua Nan Commercial Bank Chairman Wu, Tang-Chieh signed a Memorandum of Understanding for Cooperation in the field of Photovoltaics at Hua Nan Commercial Bank Corporate Plaza on the 9th. Mutual assistance and sharing of resources in the field of technology, facilities, and financing in the context of this strategic alliance spurs the development of PV industry in Taiwan.
       Chairman Shen utilized this occasion to express his deep gratitude for the long-term support by Hua Nan Bank. He reminisced that “my father had had business dealings with Hua Nan Bank since his early days of entrepreneurship in Tainan and I still remember vividly how friendly the bank tellers were when they interacted with my father. Their service attitude is truly admirable. Taya received valuable assistance from Hua Nan Bank for the expansion of its operations in Taipei, Vietnam, and China. Recently, Hengs Technology, an affiliated enterprise of Taya Group, has been granted a syndicated loan by Hua Nan Bank.”
       With regard to the development of the renewable energy industry in Taiwan Chairman, Shen points out that “Taya Group has been paying attention to this issue for a long time starting with the development of offshore wind farms and submarine cables. Due to considerations associated with the domestic and international environment, the company shifted its attention to the solar energy sector. The total installed capacity is projected to increase from 10 MW now to 25 MW in mid-2018. The company aims to ensure stable operations by adding a capacity of 10 MW per year. The new government has been actively promoting renewable energy since its inauguration, but domestic businesses need support in form of green financing. It therefore gives me great pleasure to form this strategic alliance with Hua Nan Bank to make a joint contribution to the development of the renewable energy industry.
       Chairman Wu pointed out that “Hua Nan Bank has had a 43-year friendship with Taya Group and the next 43 years and beyond will be full of opportunities for further cooperation. The government aims to increase the ratio of renewable energy sources to 20% by 2025, which is expected to generate business opportunities worth 100 billion NTD for the photovoltaic industry. In line with the 5+2 industrial policy of the government, Hua Nan Bank has granted loans of a total value of over 400 billion NTD to over 800 businesses. In view of the huge demand for capital by the green energy industry, a project financing task force has been formed. Taya has invested in Hengs Technology since 2014 and achieved excellent operational results since the joint establishment of Taya Green Energy. The formation of a strategic alliance between Hua Nan Bank and Taya Group marks the start of more intensive and extensive cooperation.”
       The signing was witnessed by Mr. Chuang, Pa-Kuei, General Manager of Taya Energy & Telecom. Cable Business Group, Mr. Heng-An Chou, Vice President of Hengs Technology, Mr. Chih-Ho Shih, Vice President of Hua Nan Bank, Mr. Ruei-Yun Wang, Corporate Finance and Marketing Manager, and Mr. Ho-Hsing Kuo, Manager of the Tainan Branch. A toast was proposed to celebrate the contract exchange. The goal of this alliance is to generate a multi-win situation for the government, industry, and the general public.

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