Latest news with #TaiwanPowerCompany
Qatar Tribune
18-05-2025
- Business
- Qatar Tribune
Taiwan shuts down last nuclear reactor
TaipeicTypeface:> Taiwan on Saturday began to shut down its last active nuclear reactor, officially marking its departure from atomic power. The No. 2 reactor at the Maanshan Nuclear Power Plant in southern Taiwan, with a capacity of 951 megawatts, was set to be completely shut down by midnight local time, after its 40-year operating license expired, according to the state-owned energy supplier, Taiwan Power Company (Taipower). This move fulfils a key promise of the government's 2016 energy plan. The decision was largely influenced by the 2011 nuclear disaster in Fukushima, Japan. 'This sends a strong message not only to other Asian nations like Japan and Korea but also to the rest of the world that nuclear power is unnecessary,' Jusen Asuka, a professor at Japan's Tohoku University, told DPA. The decommissioning of Taiwan's older nuclear power plants began in 2018 and 2021, followed by the shutdown of Maanshan's first reactor in July 2024. At its peak in the mid-1980s nuclear power provided more than 50% of electricity, but in 2024 its share dropped to about 3%. (DPA)
See - Sada Elbalad
17-05-2025
- Business
- See - Sada Elbalad
Taiwan Shuts Down Final Nuclear Reactor
Israa Farhan Taiwan has officially ended its use of nuclear energy after beginning the shutdown of its last operational nuclear reactor on Saturday. This marks a significant milestone in the island's energy transition plan. State-run Taiwan Power Company announced that Reactor No. 2 at the Maanshan Nuclear Power Plant in southern Taiwan is scheduled to be fully deactivated by midnight local time. The 985-megawatt reactor has reached the end of its 40-year operational license, fulfilling a central promise of Taiwan's 2016 national energy strategy. The phase-out has been largely driven by public concerns following the 2011 Fukushima nuclear disaster in Japan. That incident had a major influence on Taiwan's policy direction, prompting the gradual decommissioning of its older nuclear reactors. Previous closures occurred in 2018 and 2021, with the first reactor at Maanshan permanently shut down in July 2024. While environmental groups and safety advocates have welcomed the move, it has raised questions about how Taiwan will ensure energy security and meet rising electricity demand. The shutdown is expected to increase reliance on fossil fuels in the short term. Taiwan's government has committed to boosting investment in renewable energy, particularly in offshore wind and solar power, to reduce carbon emissions and support a sustainable energy future. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Korea Herald
28-04-2025
- Business
- Korea Herald
LS Marine wins first overseas subsea cable deal for Taiwan wind project
$15.8 million deal marks LS' global debut as offshore energy investments surge LS Marine Solution announced Monday that it has secured a $15.8 million contract to install subsea cables for Taiwan Power Company's offshore wind project, marking its first overseas order in the power grid sector. It is also the first time a Korean company has bagged an international subsea cable installation project. According to LS Marine, the project is part of the TPC wind farm's phase 2 initiative, with a generation capacity of 294.5 megawatts. It is a core project within the Taiwanese government's first phase plan to develop 5.6 gigawatts of offshore wind power capacity by 2025. 'Leveraging the technological expertise and experience we have accumulated as Korea's first-generation subsea cable installation company, we have successfully entered the overseas power grid market,' LS Marine Solution CEO Kim Byung-ok said. 'Building on the success of the Taiwan project, we will accelerate our efforts to expand globally.' The latest contract positions LS Marine Solution to capitalize on the rapidly growing offshore energy market in the country, as the following second and third phases of Taiwan's wind power projects are expected to reach approximately 2.5 trillion won ($1.74 billion). The Taiwanese government has set a long-term roadmap, aiming to secure 20.6 GW of offshore wind power capacity by 2035. The company said it expects to further strengthen the synergy between cable manufacturing and installation capabilities, given how it has already supplied nearly 1 trillion won worth of extra-high voltage subsea cables for Taiwan's first phase project. Over the past 30 years, LS Marine Solution has built strong technological expertise by participating in major international subsea communication cable projects for major tech giants such as Meta and Microsoft, connecting Korea, North America and countries across Asia, the company said. Last November, the company successfully completed its first subsea cable installation for the 96 MW Jeonnam offshore wind farm phase 1 project in Sinan County, South Jeolla Province. The company has also been selected as the preferred bidder for two additional offshore wind projects, the 532 MW Anma project in South Jeolla Province and the 500 MW Taean project in South Chungcheong Province, and is preparing to finalize the contracts. LS Marine Solution was previously KT Submarine and was acquired by LS Cable and System in 2023. The company's revenue more than tripled from 42.8 billion won in 2022 to 130.3 billion in 2024. The company swung from a 6.6 billion won loss to a 12.4 billion won profit during the same period.
ME Construction
05-02-2025
- Business
- ME Construction
NMDC Energy awarded US $1.136bn EPC contract
Industry News NMDC Energy awarded US $1.136bn EPC contract By The Tung-Hsiao Power Plant 2nd Stage Renewal Project plays a key role in accelerating Taiwan's transition to cleaner energy NMDC Energy has been awarded a EPC contract by Taiwan Power Company (Taipower) for pipeline installation, shore approach works and dredging for the Tung-Hsiao Power Plant second stage renewal project. The US $1.136bn project involves the design, construction and installation of 111km of linear subsea pipeline at depths ranging from 10m to 55m, stretching between Taichung and Tung-Hsiao on Taiwan's west coast. The scope of work includes shore approach works and dredging operations with a volume of approximately six million cu/m. Led by NMDC Energy and utilising the capabilities of NMDC Dredging & Marine, the award highlights NMDC Group's integrated and multidisciplinary approach to engineering, procurement and construction. As part of its commitment to expanding into high-growth regions, NMDC Energy views Taiwan as a market with significant potential. Yasser Zaghloul, CEO of NMDC Group said: 'This landmark contract underscores NMDC Energy's position as a global leader in engineering and marine solutions, while driving forward Taiwan's energy transition ambitions. Our work in Taiwan is not merely about infrastructure; it represents a commitment to creating sustainable pathways for energy resilience in a region of strategic importance. This award reaffirms our dedication to delivering world-class expertise across diverse geographies and demonstrates how NMDC Group's integrated capabilities set the benchmark for transformative, high-impact projects worldwide.' Ahmed Salem Al Dhaheri, CEO of NMDC Energy added: 'Over the past three years, we have boldly expanded our operations into renewable energy in Taiwan, forging transformative partnerships to unlock opportunities for various clean energy integration. Our collaboration with Taiwan Power Company will drive and strengthen our presence in Taiwan and South East Asia.' The Tung-Hsiao Power Plant 2nd Stage Renewal Project plays a key role in accelerating Taiwan's transition to cleaner energy by enabling the delivery of natural gas with an annual capacity of 2.3m tonnes, crucial to meeting growing demand while also enhancing energy security.
Arabian Business
31-01-2025
- Business
- Arabian Business
NMDC Energy revenues up 82% for the year; net profit zooms 80%
NMDC Energy has delivered stellar financial numbers in its first full-year reported earnings since becoming a public-listed company in September 2024. On the back of strong operational performance and strategic expansions locally and internationally, the Abu Dhabi company achieved an 80 per cent year-on-year increase in net profit for the financial year, upping its net profit from AED780 million ($212.4 million) to AED1.406 billion ($380 million). Revenues soared to AED14.44 billion ($3.93 billion), up 82 per cent year-on-year from last year's AED7.94 billion ($2.16 billion). Earnings per share rose 82 per cent as well, and total assets grew to AED16.5 billion ($4.5 billion), up by 27 per cent. For Q4 2024, net profit was AED502 million ($136.7 million), reflecting a 35 per cent increase compared to the same period of 2023. Revenues for Q4 2024 hit an all-time record high of AED4.7 billion ($1.28 billion), up 57 per cent. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, commented: 'We are delighted to achieve strong financial results in what has been a landmark year for NMDC Energy. Our exceptional performance stems from our strategic focus, discipline, and bold ambition, where we have introduced cutting-edge technologies, fostered innovation, enhanced efficiency, and embraced AI within our operations. 'This is clearly reflected in our revenue and net profit growth of 82 per cent year-on-year and 80 per cent year-on-year, respectively. We are also proud of the milestone projects that we have been working on globally, including our recently inaugurated advanced fabrication yard in KSA and our prestigious EPC contract awarded by Taiwan Power Company (Taipower). 'As we look ahead into 2025, we continue to place sustainability, strategic international expansion and operational efficiency at the heart of NMDC Energy's winning formula for the energy business. The momentum created by our recent initiatives and strong financial results has set the stage for us to strengthen our core market and to unlock future growth.' The board of directors has proposed a total cash dividend of AED700 million ($190.6 million) for the financial year ended December 31, 2024, representing a cash dividend per share of 14 fils ($0.38). Mohamed Hamad Almehairi, Chairman of NMDC Energy, commented: 'Throughout 2024, NMDC Energy embarked on several ground-breaking initiatives to ensure the business will be a leader in the energy sector of the future. 'Our impressive financial performance illustrates the significant advances we have made operationally and geographically to bring meaningful value to our stakeholders. We are proud to be playing a tangible role in driving the UAE's national ambitions, in addition to actively supporting its focus on sustainability and its economic growth.' NMDC Energy has been strategically focused on major projects including Hail & Ghasha, Estidama, MERAM, Ruwais LNG, Lower Zakum and Aramco CRPOs. Looking towards East Asia, it was awarded a prestigious EPC contract by Taiwan Power Company (Taipower) for pipeline installation, shore approach works and dredging for the Tung-Hsiao Power Plant 2nd Stage Renewal Project. The $1.14 billion project involves the design, construction and installation of 111 kilometres of linear subsea pipeline at depths ranging from 10 metres to 55 metres, stretching between Taichung and Tung-Hsiao on Taiwan's west coast. As of December 31, 2024, NMDC Energy has a backlog of projects worth AED50.4 billion ($13.72 billion).
