TCC goes global with key Asian assets
Discovery Reports
Taiwan Cogeneration Corporation (TCC) is going global with key positions in Asia to boost profitability while contributing to the region's energy security.
Founded in 1992 with seed money from the state utility and private industries, TCC was created to enhance energy efficiency in Taiwan with cogeneration technology at an early stage. It flourished in the early 2000s as a leading independent power producer (IPP) in Taiwan. Listed on the Taiwan Stock Exchange since 2003, TCC has evolved into a power-dedicated group with assets valued at HK$17 billion.
TCC owns stakes in four IPPs - Star Energy, Sun Ba, Star Buck and Kuo Kuang - and controls more than 30 per cent of the total IPP capacity in Taiwan. It has long-standing investment partnerships with Tokyo Electric Power, Sumitomo, major Taiwan banks and Kansai Electric Power. TCC also has a strong track record in turnkey contracting and is distinguished in Taiwan for its on-time project delivery. Its engineering and construction capabilities include power generation plants, power transmission solutions and renewable energy installations.
TCC embarked on its first overseas venture in 2006 in the Philippines. It formed a joint venture, Redondo Peninsula Energy (RP Energy), with local dominant power entities Meralco PowerGen and AboitizPower. This will ensure steady business for the upcoming coal-fired power plant at the Subic Bay industrial park. Slated for completion by 2015, the 600-megawatt power plant will use proven and competitive clean coal technology. "RP Energy is a major milestone and we are keen on expanding throughout the region," says Brian Hsu, TCC president.
Indonesia's high demand, strong growth and ample natural resources will drive TCC towards greater developments there.
As environmental protection on the mainland rises, liquefied natural gas will replace coal in distributed energy systems. With the improving cross-strait relationship, TCC sees a strategic opportunity to create a win-win scenario to fill the mainland's vast appetite for energy.