Renewable energy
Cogeneration and Sales of Electricity
ECOVE Environment Service Corp.'s waste incineration plants, including Macau but excluding two small plants, utilize the heat generated from waste incineration to generate electricity. This method serves as a substitute for fossil fuels, reducing carbon emissions. In 2022, a total of 2,570,868.26 metric tons of waste were incinerated. The total electricity generated was 1,425,844 megawatt-hours (MWh), with approximately 1,157,766 MWh sold back to the power company. This means that 81.2% of the total electricity generated was fed back to the grid, while the remaining portion was used for the operation of the incineration plants. According to statistics from Taiwan Power Company (http:// www.taipower.com.tw) and Macau Power Company (https:// www.cem-macau.com/zh/), the electricity generated in 2022 could supply approximately 275,200 households in Taiwan for a year❹ and 31,300 households in Macau for a year ❺ . Based on calculations, electricity generation from the incineration plants in 2022 resulted in a reduction of approximately 748,300 metric tons of CO2e emissions for Taiwan and Macau Power Companies combined (based on carbon emission factors for electricity, refer to footnotes 1 and 2 in the table). ❹ According to Taiwan Power Company (Taipower), the average household electricity consumption from January 2022 to December 2022 was 3,619 kilowatt-hours (kWh) per household. ❺ According to Companhia de Electricidade de Macau, the average monthly electricity consumption per household is 430 kilowatt- hours (kWh). Therefore, the average annual electricity consumption per household is approximately 5,160 kilowatt-hours (kWh)
Solar power
In response to the escalating issues of climate change and carbon reduction, solar power has emerged as a significant clean energy source worldwide. Under the umbrella of ECOVE, its subsidiary ECOVE Solar Energy Corporation focuses on the development, investment, construction, and operation of solar power systems. As of the end of 2022, it has cumulatively developed approximately 154 MW capacity both domestically and internationally. ECOVE Solar Energy Corporation has received recognition for its achievements, including 26 Kaohsiung City Government Photovoltaic Intelligent Building Certificate (Gold, Silver, Bronze, and Special awards), two awards at the 3rd Annual Top Solar System Awards by the Bureau of Energy, MOEA, one award at the 4th Annual Top Solar System Awards by the Bureau of MOEA, one award at the 5th Annual Top Solar System Awards by the Bureau of Energy, MOEA, one award at the 9th Annual Top Solar System Awards by the Bureau of Energy, MOEA, one gold award each at 13th Annual Top 10 Enterprise and Manager Awards, and one award each at the 2017 Outstanding Enterprise and Model Entrepreneurship Award.
In addition to its ongoing commitment to the development of the solar power industry, ECOVE Solar Energy Corporation continues to invest in the establishment and operation of solar power systems. By the end of 2022, ECOVE Solar Energy Corporation has completed numerous project installations in collaboration with key partners such as Taiwan High-Speed Rail, Kaohsiung Rapid Transit Corporation, Taipei Metro, Taichung Metro, Port of Kaohsiung, Tainan City Government, and others. The cumulative achievements include ground-mounted projects with a total capacity of 38.31 MWp, rooftop projects with a total capacity of 58.20 MWp, and floating solar projects with a total capacity of 5.06 MWp. Overall, the completed installations have reached a total capacity of 101.57 MWp. To overcome the inherent intermittency of renewable energy and mitigate the impact on the power grid, Taiwan Power Company (Taipower) has planned an electricity trading platform and established a market for ancillary services. This allows private investors to deploy energy storage systems to provide stable power services. ECOVE Solar Energy Corporation is currently in the process of constructing a 5MW energy storage project, which is expected to be completed in Q2 of 2023. Once finished, it will be able to offer power ancillary services to Taipower. With the successive amendments to the Electricity Act and the Renewable Energy Development Act by the government, Taiwan has fully opened up the renewable energy sector for direct supply, wholesale, and the sale of renewable energy. ECOVE Solar Energy Corporation has long been dedicated to the development of the solar energy field in Taiwan. In response to the global net-zero carbon emissions agenda and the urgent demand for green energy from major corporations, ECOVE Solar Energy Corporation officially entered the green energy trading business in 2021. It provides optimal solutions to enterprises, assisting them in achieving carbon neutrality and net-zero emissions goals. As of the end of 2022, ECOVE Solar Energy Corporation has signed six green energy supply contracts and continues to explore other cooperative opportunities.
