DONG Energy is setting up an office in Taiwan to explore offshore wind opportunities in the Asia-Pacific region.
The company is turning its attention to Asia-Pacific as the area has large potential for the development of offshore wind, Martin Neubert, the Chief Strategy Officer at DONG Energy Wind Power, told Offshore WIND.
“Taiwan has an ambitious renewable strategy and site conditions are quite similar to those we know from Western Europe,” Neubert said.
”Right now, we have the opportunity to be an early mover – similar to what we’ve done in the US. It is still in the very early days, so we are a bit cautious about putting a precise time, but we will probably see projects carried out between 2020 and 2025.”
Besides Taiwan, DONG is interested in exploring possibilities within offshore wind industries of China, Japan and Korea.
The decision for DONG to establish its presence in the Asia-Pacific region has come as the company posted EUR 699 million net profit for the first quarter of 2016, a near 50% increase compared to the net profit recorded in Q1 2015.
The rise in profit was mostly due to a strong performance of the company’s Wind Power sector.