Formosa Smart Energy partners with Polish group on new energy projects

Taipei, July 2 (CNA) Taiwanese energy firm Formosa Smart Energy signed a memorandum of understanding (MOU) with Poland's SKB Group in Taipei on Tuesday, hoping to build up its energy storage and electric transportation business in Europe, the company said Wednesday.

Under the MOU, the Formosa Plastics Group subsidiary will work with the Polish company on electric buses and vehicles, integrated energy storage systems, commercial and industrial energy storage, smart energy platforms, and a strategic investment alliance.

Formosa Smart Energy Chairwoman Sandy Wang (王瑞瑜) and SKB group CEO Bartłomiej Dobosz signed the MOU, witnessed by Polish officials and industry leaders.

Wang said the company will provide integrated solutions for battery packs, modules, and energy storage systems, while leveraging SKB's expertise in electric bus systems, component development, renewable energy plant construction, and public infrastructure projects.

Together, the two companies aim to create a blueprint for energy storage infrastructure and electric transportation development in Europe, she said.

Formosa Smart Energy President Liu Hui-chi (劉慧啓) said the prevalence of electric buses in Polish cities stands at around 5-7 percent, notably lower than the goal of 75 percent in 2030 set by the Polish government.

Also, as over 60 percent of Poland's electricity is currently generated by burning coal, energy storage systems are needed alongside the rapid construction of renewable energy power plants, such as solar and wind power, to ensure stable electricity generation, Liu said.

Formosa Smart Energy will help enhance peak load modulation through its energy storage solutions, and it also plans to expand into areas such as charging infrastructure and traffic systems to support a low-carbon transition in the Polish and broader European markets, Liu said.

The SKB group is a Polish conglomerate providing services in construction, steel structures, logistics, and power transmission assemblies, according to its website.