Taipei, April 24 (CNA) Officials from Taiwan's Ministry of Economic Affairs (MOEA) and the U.S. state of Idaho signed a Memorandum of Understanding (MOU) in Taipei Wednesday to cooperate in developing the green energy industry.
Shen Jong-chin, director-general of the Industrial Development Bureau under the MOEA signed the deal with Jeff Sayer, director of the Idaho Department of Commerce, witnessed by Minister of Economic Affairs Chang Chia-juch and Idaho Governor Butch Otter.
Chang said the MOU will serve as the basis for technological exchanges between the two sides, which will further deepen bilateral industrial cooperation.
In the initial states of the cooperation, the two countries will focus on exploring the geothermal industry, the bureau said.
For example, Taiwan's CPC Corp. has geothermal experience, while Yuen Foong Yu Group, which produces cogeneration energy, has also expressed interest in developing technology in the field, it said.
The bureau said seven Taiwanese institutions, including CPC, the Industrial Technology Research Institute and National Taipei University of Technology, will carry out projects to develop the industry with U.S companies, national labs and research centers there.
As a pioneer and leader in the field of geothermal energy, Idaho produces 855 megawatts every year, accounting for 32 percent of the world's geothermal power generation. It is expected to be able to generate 1,670 megawatts by 2025, according to the ministry.
The alliance will also be eyeing the Southeast Asian geothermal market, which is worth an estimated US$45 billion per year, said Steve Lin, executive secretary of the Taiwan-USA Industrial Cooperation Promotion Office.
C.K. Liu, chairman of TECO Electric and Machinery Co., Ltd., Chung Tzu-chiang, chairman of Tang Eng Iron Works Co. Ltd., and other representatives from local firms, also attended the signing ceremony and signed various MOUs with the U.S officials, according to the bureau.
(By Huang Chiao-wen, James Lee and Maia Huang)