Taiwan Mobile Partners with Fubon Group to Invest NT$11 Billion in "Green Energy Investment Platform," Aiming to Set Up 380MW Solar Photovoltaic Systems

June 11,2024

Taiwan Mobile announced on June 11 its investment in the “Fubon Green Energy Investment Platform” as it seeks to expand its green energy footprint and drive energy transition. It established a holding company named Fubon Energy in partnership with HD Renewable Energy, Fubon Life, and momo, with the President of Taiwan Mobile, Jamie Lin, being appointed Chairman of Fubon Energy. Formed by Fubon Group in December 2023, Fubon Energy sees a total investment of NT$11 billion with Taiwan Mobile's involvement. The company plans to develop 380MW solar photovoltaic systems and 354MW energy storage systems. This will accelerate the development of renewable energy for Taiwan Mobile and Fubon Group, while simultaneously enhancing the resilience of the electricity grid during the transition.

Taiwan Mobile is committed to climate governance and realizing the vision of "Green" under the "5G+ Strategy,” which is to show love for the Earth. The company emphasizes long-term sustainable growth through the principle of “Grit.” Since 2015, it has initiated green energy campaigns and specifically launched the "Taiwan Mobile Green Energy for Sustainable Future" project in 2016 to save energy and reduce carbon emissions. It has also conducted the "Green Power for Charity" project for eight consecutive years since 2017, helping public welfare organizations build solar photovoltaic systems. In 2023, Taiwan Mobile and Fubon Group co-sponsored Academia Sinica's Net Zero Technology R&D project to develop clean energy technologies. In May 2023, Taiwan Mobile issued its "Social Responsibility Bonds" with a total value of NT$6.5 billion, the largest single fundraising amount in the history of the Taiwanese telecommunications industry. The proceeds will strengthen Taiwan's green infrastructure applications and promote the widespread use of telecommunications networks, thereby enhancing digital resilience and building a sustainable environment. By joining the "Fubon Green Energy Investment Platform," Taiwan Mobile is pursuing multiple green energy investment strategies, aiming for 100% renewable energy usage by 2040 and achieving Net Zero emissions by 2050.

Aiming for 380MW of Solar Projects in 5 Years and Strengthening Grid Resilience

Taiwan Mobile President Jamie Lin stated that Fubon Energy integrates the resources of the group to create the "Fubon Green Energy Platform," leveraging HD Renewable Energy's technical and integration capabilities to maximize the supply of renewable energy. Over the next five years, the company plans to develop solar photovoltaic systems with a total capacity of approximately 380MW. As the proportion of renewable energy increases, Taiwan's power system will face significant operational challenges. Therefore, Fubon Energy is also investing in the development of energy storage systems, making it the first financial-telecom collaboration in Taiwan to participate in a "Green Energy Investment Platform." This supports the development of renewable energy while enhancing the stability and safety of the power grid during the energy transition, steadily achieving energy transition goals.

HD Renewable Energy to Assist Taiwan Mobile in Achieving Net Zero

HD Renewable Energy and Star Exchange chairman Hsieh Yuan-I expressed that Taiwan Mobile excels not only in telecommunications but also in sustainable development. Last month, Taiwan Mobile joined the EV100 (Electric Vehicle 100%) initiative, committing to convert all company vehicles to electric by 2030. In support, HD Renewable Energy provides comprehensive green energy services, with its subsidiary Star Exchange offering diverse and sufficient green electricity sources and efficient green power transfer capabilities. Future collaborations are anticipated to create win-win outcomes on the path to Net Zero.

Taiwan Mobile's Multifaceted Green Energy Planning

Taiwan Mobile is committed to achieving 100% renewable energy usage by 2040 and reaching Net Zero carbon emissions by 2050. To accelerate towards these goals, Taiwan Mobile actively integrates group resources and collaborates with industry partners through dual strategies of "investing in or self-developing renewable energy plants" and "purchasing renewable energy." The company aims to achieve 35% renewable energy usage by 2030 and 60% by 2035. Since 2021, Taiwan Mobile has worked with HD Renewable Energy, with its subsidiary Star Exchange transferring about 67 million kWh of green electricity, enhancing green electricity applications across nearly 1,300 locations in Taiwan and increasing the amount of renewable energy usage by around 8%. Taiwan Mobile also supports Academia Sinica's Net Zero Technology R&D project, exploring new energy and technology applications in geothermal, ocean energy, and methane pyrolysis technology. In September 2023, a breakthrough was achieved in the development of methane pyrolysis technology, marking a milestone in Taiwan's clean energy development.