TECO Acquires 100% Equity Stake of TaiPeng Energy to Expand into Solar Energy Storage Market

TECO announced on the 16th of this month that its subsidiary, An Neng Energy, will acquire 100% of the shares of Tai \Peng Energy Technology, a subsidiary of Shine Energy.

TECO is actively expanding its presence in the green energy market. In 2022, it secured the largest storage project (60MW Longtan Storage System) from Taipower and invested in Taipower's energy storage systems and distributed grid plan. TECO is also developing important equipment for the electricity industry, such as high-pressure gas-insulated switchgear and digital grid equipment. 

TaiPeng Energy Technology has already completed grid-connected solar projects with a total capacity of about 2MW and has secured several rooftop solar projects in Taichung, Kaohsiung, and Penghu. Currently, the construction of these projects is ongoing.

Shine Energy, established for over 10 years, has completed over 500 grid-connected solar projects, with a total installed capacity of over 35MW. Tai Peng Energy Technology is expected to complete 10-15MW solar projects by the end of 2023.