Green Energy Financing and Successful Transformation of Taya Electric Wire & Cable〔Commercial Times〕
2017/12/28
Taya Electric Wire & Cable is without doubt a successful example of transformation of a local company into a green enterprise and a key supply chain member. Mr. Chuang, Pa-Kuei, General Manager of Taya Energy & Telecom of the Cable Business Group, pointed out on the 27th that Taya has acquired green energy funding of NT$ 6-8 billion. In the past, banks required the parent company to act as a guarantor. However, due to the profitable operations of Taya, the interest rate has dropped and the bank no longer requests that the parent company act as guarantor for SPV.
Taya Electric Wire & Cable is a loyal customer of Hua Nan Bank. The bank and Taya are key partners in green energy financing. Mr. Chuang, Pa-Kuei pointed out that Hua Nan Bank and Taya have already signed a cooperation memorandum on green energy financing. The scope of cooperation includes introduction of relevant green energy financing businesses by Hua Nan Bank as potential cooperation partners for Taya. This cooperation model is conducive to the establishment of a green energy industry supply chain.
Mr. Chuang also stated that as of 2015 Taya has its own power plant which became profitable in 2016. When banks saw the actual operating performance, they offered Taya more favorable conditions in the fields of interest rates and guarantor requirements. Among all the green energy business areas that Taya is involved in, offshore cables is the area associated with the highest risk. Taya has adopted comprehensive insurance mechanisms for protection including cooperation with experienced overseas insurance companies.
Mr. Chuang also explained the transformation process of the company in great detail listing key points such as education and training, technical cooperation, cross-domain integration, and participation in multiple industry-academia-government collaboration projects.
(Commercial times)