“50 Influential Figures” Chairman Shen, Shang-Hung: Ambassador for a Green Environment
2024/06/20
“50 Influential Figures” Chairman Shen, Shang-Hung: Ambassador for a Green Environment
20/06/2024 Text ｜Jung-ping Sun
Chairman Shen, Shang-Hung of Taya Group(Photo / Chung-an Pan)
Magnet wires are not commonly seen in daily life, but they are crucial in applications ranging from semiconductor probes to aerospace products like aircraft pump motors. Taya Group, Taiwan's largest manufacturer of magnet wires, has been quietly advancing in this field for nearly 70 years, consistently innovating technologically.
Founded in 1955 by Shen, Ta-Chih and Shen, Chin-Chen, Ta Ya Enterprise initially produced rubber wires, plastic wires, and high-voltage cables. In 1967, the company was renamed Ta Ya Electric Wire & Cable Co., Ltd. and began producing magnet wires.
In 1986, Taya officially started manufacturing 69kV ultra-high voltage power cables, followed by 161kV and 345kV extra-high voltage power cables. It was the first local company to receive certification from Taiwan Power Company for its products.
The current chairman of Taya Group, Shen, Shang-Hung, is the son of Shen, Chin-Chen. After graduating from the Department of Electrical Engineering at National Taiwan University, he earned an MBA from Emory University. After working for AT&T for four years, he returned to Taiwan in 1988 to join Taya, becoming chairman in 2003.
Upon taking over, Shen, Shang-Hung focused on strengthening the company's position in high-voltage cables to enhance its competitiveness. Following the 2008 financial crisis, with a sharp decline in demand and significant cuts in capital expenditures by Taiwan Power Company, he was driven by a sense of mission and sustainability to reconsider Taya’s future. He repeatedly asked: What kind of company should Taya become? What more could be done beyond wires and cables? Although many opportunities arise by chance, one must have ideas and be well-prepared. When opportunities present themselves, you must be ready to seize them, he emphasizes.
Three Growth Directions: Cables, Energy, and Venture Capital
Taya Group was an early investor in Taiwan Cogeneration Corporation and Sun Ba Power Corporation, having taken stakes in these companies in 1992 and 2000, respectively. At the time, the energy sector was not highly regarded. Seeking the second growth curve for the company, Chairman Shen, Shang-Hung decided to position Taya as a leading brand in energy integration, providing solutions for energy generation, transmission, conversion, storage, and management. Meanwhile, Taya has long been committed to environmental sustainability, establishing the TAYA Pristine Homeland Foundation in 2011 to promote green energy.
In 2013, Taya considered investing in offshore wind power and even secured first reserve status in a demonstration wind farm. However, after assessing the risks, the company decided to withdraw and shift its focus to solar photovoltaic energy. At that time, Shen, Shang-Hung met President Chou Heng-Hao of Hengs Technology, and the two quickly found common ground.
Hengs Technology is the first company in Taiwan to receive TÜV O&M certification from Germany for solar power systems. By investing in Hengs Technology, Taya gained expertise in solar power plants, and in 2014, they jointly established Taya Green Energy Technology Co., Ltd. As of March 2024, Taya Green Energy Technology operates 68 rooftop and ground-mounted solar power plants, with a total installed capacity of 212 MW.
Additionally, in 2017, Taya invested in Union Storage Energy System, which provides energy storage auxiliary platform services, storage facilities for large electricity consumers, and battery products. In 2021, Taya Group established Taya Energy Storage Technology Co., Ltd. to offer integrated energy storage solutions. The company began building MW-scale energy storage systems in its founding year, covering areas such as investment, development, construction, operation, energy storage, and power sales. Last year, the group's automatic frequency regulation (AFC) capacity reached 13 MW.
In 2023, Taya Group's revenue was NTD26.435 billion, with the solar power sector accounting for 5.9% of this, an increase of nearly 3 percentage points from 2022.
In Managing a business is like a stool that needs three legs to be stable. Taya's three legs now are wires and cables, energy, and venture capital. Shen, Shang-Hung plans to continue leading the company toward steady growth and accelerate efforts to achieve the goal of net-zero carbon emissions by 2050.
Shen, Shang-Hung's Profile
Born: 1958
Current Position: Chairman, Taya Group
Experience: General Manager of Ta Ya Electric Wire & Cable, Manager at AT&T
Education: Bachelor's in Electrical Engineering from National Taiwan University, MBA from Emory University
Full Source: Wealth Magazine https://www.wealth.com.tw/articles/f0c647ef-5dbc-4080-a162-086d097c6f87