Taiwan and Mongolia have signed a memorandum of understanding that will see the two countries collaborate on renewable energy generation and energy efficiency projects.
The document was signed in Taipei (pictured right) on Monday by officials representing the Ministry of Economic Affairs (MOEA) and Mongolia’s Ministry of Energy.
Taiwan's Deputy Minister of Economic Affairs, Duh Tyzz-jiun, highlighted the significant potential for developing renewable energy such as solar and wind power in both countries.
MOEA Bureau of Energy (BOE) Director-General Wang Yunn-ming said Taiwan is will also share its experience and expertise in replacing aging coal-fired electricity generators with Mongolia, which relies on coal for 48 per cent of its overall power generation.
Whilst Taiwan has made good progress in the development of solar and wind power, companies in these sectors are restricted in their ability to enter overseas markets by a lack of international recognition, according to the BOE.
The memorandum is expected to help Taiwanese companies establish a reputation with which they will be able to expand their business opportunities, according to the BOE.
