Hua Nan Bank and Taya Sign a Memorandum of Understanding to Seize Green Energy Business Opportunities 〔China Times〕

2017/11/09
       Hua Nan Bank (2880), a subsidiary of Hua Nan Financial Holdings, has recently formed a “Green Energy Project Financing Task Force” to seize business opportunities in the field of green finance, integrate internal and external resources, and build up momentum in the field of green energy financing in cooperation with Taya Green Energy Technology, an affiliate of the outstanding publicly listed system provider Taya (1609). Hua Nan Bank and Taya signed a Memorandum of Understanding for a Strategic Alliance in the field of photovoltaics based on the principles of mutual benefit and resource sharing in an effort to provide customers of both parties with installations and financing services required for solar power facilities.
       Mr. Wu, Tang-Chieh, Chairman of Hua Nan Financial Holdings and Hua Nan Bank stated that the Hua Nan Group has granted working capital totaling NT$ 400 billion to actively support over 8000 businesses in new key industries in the context of the “5+2” industrial innovation program by the end of September in line with the government policy of promoting green energy industries. Photovoltaics, wind power, and other green technology businesses received lines of credit worth over NT$ 70 billion, which bears witness to the active support of new key industries and green energy businesses by the bank. Hua Nan Financial Holdings also invited industry, government, and academia representatives to participate in large-scale conferences such as “Taiwan-Europe Green Finance Seminar for Offshore Wind” and “Support for the 5+2 industrial innovation program to Create a Sustainable Economy”. The bank aims to cooperate with the government in the creation of unlimited business opportunities in the context of the 5+2 program and assume the role of a bellwether in green energy financing in the domestic financial sector.
       The Bureau of Energy of the Ministry of Economic Affairs has set the goal of increasing the ratio of green power generation to total energy consumption to at least 20% by 2025 in order to achieve the goal of a non-nuclear homeland. The installed solar power capacity is expected to reach 20GW. To achieve this target, it will be necessary to add a new installed capacity of 2-3GW per year. This will generate new business opportunities worth 100 billion NTD each year.
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