Arbon Capital is pleased to announce it has signed a Joint Development Agreement (JDA) with Mitsui & Co., Ltd. (Mitsui) for its onshore wind farm project in Taiwan. The title Arbon comes from removing the letter C from Carbon, which aspires to a carbon-free world and protecting the environment from global warming. The main focus of Arbon is to provide hassle-free electricity sourcing for buyers by developing wind energy projects and providing investment advisory in Taiwan.
Mitsui, one of Japan’s largest sogo shosha (general trading companies), has been investing heavily in renewable energy projects over the past few years and has a history of holding a stake in wind energy projects in Taiwan. Arbon and Mitsui see climate change as an opportunity to promote green energy and focus on the advantages of shifting to green energy through this collaboration. “Signing JDA with Arbon Capital has been an excellent opportunity for Mitsui to expand renewable footprint in Taiwan and further contribution for global GHG reduction. We are also looking forward to expanding collaboration with Arbon Capital starting with this Project.” says Ryo Zushiden, General Manager, Mitsui
Taiwan's market is dominated by large power users from the semiconductor industry who gobbles most of the renewable projects through PPA or CPPA. Considering the current market situation, this project with Mitsui comes at the right time when most of the small to medium power users find it arduous to source renewable power due to a lack of supply and high prices in the market. “This partnership with Mitsui provides Arbon Capital with an opportunity to gain a foothold in Taiwan’s competitive renewable energy market and strengthen the company’s position in this fast-growing segment,” says Dr. Jules Chuang, Managing Director of Arbon Capital.
Image: (Left) Ryo Zushiden General Manager, Mitsui and (Right) Dr. Jules Chuang Managing Director, Arbon Capital
In March, Taiwan released its carbon neutrality pledge where it needs to increase the portion of renewable energy at least 60% before 2050 to reach its net zero targets. Arbon aims to provide a renewable energy solution for its end customers and help to accelerate Taiwan’s energy transition. Therefore, signing JDA with Mitsui will not only fulfill the goal of Arbon but also will aid Taiwan’s ambition to achieve net-zero emissions by 2050.
Arbon and Mitsui foresee working beyond the development of wind farms and believe this will be the start of an extended cooperation. Apart from wind farm developments, Arbon will continue to explore opportunities in Demand-side Management (DSM) & Energy Storage Systems (ESS) to optimize the generation and overcome economic and technical challenges.