As the global energy transition accelerates, Taiwan's ATE Energy is rapidly expanding its renewable energy and marine engineering operations, with significant progress on two thermal power plants in the Philippines. The company is also poised to secure contracts for large-scale energy storage systems at these facilities.
One of the plants is nearing completion, while marine construction is underway for the second. ATE Energy is in advanced discussions to install a 320MW energy storage system at the first plant, with work potentially starting in early 2025. The second plant's storage system is expected to follow, with discussions likely to begin in the second half of 2025.
ATE Energy's recent acquisition of a 15,000-ton cable-laying vessel, set to be delivered by mid-2025, is aimed at supporting Taiwan's offshore wind projects. The company has already received interest from several developers.
The company is optimistic about Taiwan's recent proposal to build green power plants in the Philippines, as outlined by Minister of Economic Affairs J.W. Kuo. With years of experience in the Philippine energy sector, ATE Energy sees this as a key opportunity and is preparing to invest in larger vessels for cross-sea cable projects.
In the solar energy sector, ATE Energy is focusing on Southeast Asia, particularly the Philippines, where lower land costs and fewer regulatory hurdles make development more feasible than in Taiwan. The company believes the Philippines has substantial potential for renewable energy growth, especially following the government's move in 2022 to allow foreign investment in power plants.
Looking ahead, ATE Energy anticipates continued growth across its marine, solar, and energy storage sectors. The company recently secured contracts for hydroelectric projects in Taiwan and a US$69 million coal system upgrade in the Philippines, which are expected to drive future revenue growth.
