TSMC taps wind power as AI chip demand soars, Taiwan feels energy crunch
TSMC backs renewables during record demand for energy-hungry chip manufacturing.
TL;DR
- TSMC has signed a 30-year agreement to purchase all power from the Hai Long offshore wind project, adding over 1 gigawatt of capacity.
- The Hai Long project is scheduled to be fully operational by 2027, capable of powering over 1 million Taiwanese households.
- Taiwan is facing an energy crunch due to disruptions in Middle Eastern energy production and reduced natural gas supply.
- The Taiwanese government is working to secure alternative fossil fuel supplies and accelerate the development of renewable energy and nuclear power.
- TSMC aims for renewable energy to power 60% of its global operations by 2030 and 100% by 2040.
- TSMC's energy consumption represented nearly 10% of Taiwan's total electricity use in 2023, a share expected to grow.
- The company has previously invested in other offshore wind projects with Ørsted and WPD.