TAIPEI: With the government's efforts to develop green forms of energy, Taiwan's production value in the sector is forecast to hit NT$1.15 trillion (around $35.9 billion) by 2015, an official in charge of energy affairs said yesterday.

Speaking at a Taipei seminar on the era of low carbon emissions, Wang Yun-ming, deputy director-general of the Bureau of Energy under the "Ministry of Economic Affairs", said that "green investment" now dominates the economic development agendas of many economies.

He cited statistics compiled by the Hongkong and Shanghai Banking Corporation as saying that the US government has set aside $67.7 billion in its economic stimulus measures for developing clean and green energy, while the European Union has committed 105 billion euros by 2013, South Korea has earmarked 50 trillion won over the next four years, and Japan has decided to make available 100 trillion yen by 2015.

Taiwan for its part will focus on solar power, LED lighting, wind power, bio-energy, fuel cells, energy information communication technology and electric vehicles.

He said the production value of the local green energy sector will have increased from NT$160 billion last year to NT$1.15 trillion by 2015, attracting private investment worth NT$200 billion and creating 110,000 jobs.

By that time, Wang went on, with its backbone industries having shifted to areas featuring low carbon emissions and high added value, Taiwan will be one of the leading economies in terms of new energy technology development and production.

The government has increased its annual budget for assisting research and development institutes in the development of lithium fuel cells as part of efforts to promote the development of the electric vehicle industry.

The budget was increased from last year's NT$120 million ($3.75 million) to NT$160 million this year, Economic Planning and Development (CEPD) officials said yesterday.

China Daily/CNA

(HK Edition 02/04/2010 page2)