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Taiwan Plans $564.5B Power Grid Upgrade

According to a report by Taiwan's Minister of Economic Affairs, Wang Meihua, submitted to the Legislative Yuan's Economic Committee, Taipower aims to complete ten key projects in three major areas within ten years. The total budget for these projects is estimated at TWD 564.5 billion ($20.1 billion), which includes TWD 376.1 billion ($13.3 billion) for ongoing projects and TWD 188.4 billion ($6.7 billion) for planned new projects. Taipower is currently formulating the "First Phase Special Project Plan for Strengthening the Power Grid."

Main FocusKey AreasNumber of SubprojectsEstimated Budget (TWD)Estimated Budget (USD)
Promoting Decentralized Power Grid Engineering563437.9 billion$15.5 billion
Promoting Reinforcement of Power Grid Engineering326125 billion$4.4 billion
Strengthening System Defense Capabilities2216.9 billion$0.6 billion

Wang Meihua stated that among the three major focuses of the overall plan, the projects with the largest budget allocation are those under the main axis of "Promoting Decentralized Power Grid Engineering." There are 63 subprojects within five key areas, requiring a budget of TWD 437.9 billion ($15.5 billion).

Six projects have been completed so far, and the remaining subprojects will be implemented in the short, medium, and long term. Seventeen projects are expected to be completed by June 2024, eighteen by the end of 2026, and the rest by 2032.

The second focus, "Promoting Reinforcement of Power Grid Engineering," includes three key areas with 26 subprojects, requiring a budget of TWD 125 billion ($4.4 billion).

Three projects have been completed, and the remaining 23 subprojects will be implemented in the short, medium, and long term. Eight projects are expected to be completed by June 2024, twelve by the end of 2026, and the remaining three by 2032.

The third focus, "Strengthening System Defense Capabilities," includes two key areas with two subprojects, requiring a budget of TWD 16.9 billion ($0.6 billion). These subprojects are expected to be completed by the end of 2026 and 2032, respectively.

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