TECO on Taiwan Sees Influx of Contract Orders for Wind Turbines

Taipei, Mar. 25, 2010 (CENS)-Having built a reputation in development of large-sized wind turbines, Taiwan-based TECO Electric & Machinery Co., Ltd., a world-caliber supplier of motors and compressors, has landed orders for nearly 100 sets of 2-megawatt wind turbines valued at around NT$10 billion this year, according to company sources.

Liu Chao-kai, chairman of TECO, indicated that his firm works out Taiwan's first domestically developed 2-megawatt wind turbine, which has been recognized by foreign clients and helps to put Taiwan into part of the global supply chain of wind turbines. According to MIRDC (Metal Industries Research & Development Centre)'s statistics, Germany is the world's largest wind turbine supplier with a market share of 21.8% in 2009, trailed by Denmark, Spain and the U.S., which commanded a 20.3%, 17.6% and 14.8% share, respectively.

He added that TECO has secured several contract orders and signed letters of intent to supply nearly 100 sets of wind turbines, including an offshore model, which sell for around NT$1-1.4 billion per unit and will be shipped in the second half of this year and constructed in Taiwan, China, the U.S. and Australia. Hopefully, the new product line will infuse solid growth momentum into the firm's business operations in the near future.

TECO's four wind turbine factories are in the U.S., China and Taiwan. To explore huge business potential in China's market for wind power, Liu said that his firm plans to set up assembly lines around wind power stations, to offer integrated, timely services including purchases of parts, assembly, system integration, design to maintenance.

TECO is confident of the green business, according to Liu, saying that his firm will seek cooperation with its U.S.-based partner America Superductor on development of 10-megawatt wind turbines, aiming to become world's largest supplier of offshore models.