TAIPEI, Taiwan, Nov. 16 (UPI) -- Danish company DONG Energy said it opened a new office in the Asia-Pacific with ambitions to build new wind farms off the coast of Taiwan.
"Building on our 25 years of experience with offshore wind, I believe we can help Taiwan make the most of its tremendous offshore wind resources," Matthias Bausenwein, DONG's regional general manager, said in a statement.
DONG opened is offices Wednesday in Taipei in a ceremony attended by Shen Jong-Chin, Tawain's deputy minister for economic affairs. Parties to the ribbon-cutting event said the new footprint for DONG would help Taiwan shift to a greener economy.
DONG said there are dozens of potential wind farm sites under review by Taiwan's government and four are already in the early stages of consideration by the company. The Danish company said it has three gigawatts of offshore wind already installed in Europe, which equals what Taiwan wants for its grid by 2025.
"Taiwan has similar geographic conditions as Northern Europe -- conditions which are very suitable for offshore wind farms," the company said. "And Taiwan has a solid regulatory framework in place which offers visibility for the industry and attracts investments."
The company said in an interim financial report its operating profit increased 7 percent, driven in part by a 19 percent increase in wind power. In late October, the company said that, in coordination with a pending initial public offering, it was moving its portfolio closer to clean-energy options like bioenergy and offshore wind.
After gaining success from its renewable energy portfolio, the company said last week it was leaving the oil and natural gas business behind. Already in September, the company entered an agreement with a state-owned company in Denmark to sell its entire gas distribution network and related operational activities.