New Green Power's CEO Gavin Tan (Photo: Bo-yu Lin)
"The issue isn’t the lack of land for building solar plants. What we really need is faster permit approvals," says Gavin Tan, CEO of Taiwan-based solar developer New Green Power (NGP), in an interview with RECCESSARY. He highlighted the government’s cautious approach to solar projects and urged a faster review process. For the first time, Tan also disclosed NGP's collaboration with international corporations like Google.
Founded in 2012, NGP was among the first Taiwanese solar companies to enter the Japanese market. Initially focused on engineering, procurement, and construction (EPC) services, the company expanded from rooftop solar installations to large-scale ground-mounted solar power.
After receiving investment from Macquarie Capital and later becoming a wholly-owned subsidiary of BlackRock, NGP moved into the energy storage and charging station sectors and has collaborated with Google twice. These strategic moves have positioned NGP as one of Taiwan’s most internationalized solar developers.
Google partnership in renewable energy for Taiwan operations
In 2019, NGP partnered with Google in a landmark agreement, as Taiwan’s Electricity Act amendment allowed businesses to purchase renewable energy directly from independent producers. This was Google’s first renewable energy deal in Asia, where NGP installed 40,000 solar panels in a fishery-solar hybrid project in Tainan to power Google’s Taiwan data center. Unlike this single-site project, their second partnership in 2024 is a more extensive commitment.
In July 2024, Google announced a deal to build 1 GW of solar capacity with NGP in Taiwan. Although details such as the development strategy, rate of return, and pricing are still under discussion, both parties have a cooperation framework in place. The initial phase will deliver 300 MW within three years, and further developments will depend on project maturity.
Tan noted that Google’s requirements are unrestricted in terms of solar project types. Google is looking for renewable energy certificates and substantial power supply at competitive prices, he explained, though he refrained from revealing potential prices. He emphasized that the terms must be mutually beneficial, ensuring NGP isn’t losing money on green energy sales.
New Green Power's ground-mounted solar farm in Chiayi, Taiwan. (Photo: New Green Power)
Three key factors behind NGP’s global partnerships
Tan attributes NGP’s appeal to multinational partners to three factors: transparency, company culture, and growth potential. He credited NGP's early leadership for ensuring high transparency in documentation and compliance, working with top-tier accounting and legal firms to reduce regulatory barriers. "Without proper compliance, companies wouldn’t invest," he said.
Tan highlighted NGP’s team culture, particularly its adaptable and globally-minded key leadership, which makes foreign investors feel more comfortable.
He pointed to NGP’s rapid growth as proof of its potential: From a small company with just a few MW capacity, we’ve grown to over 1GW in green energy development. BlackRock has since committed to invest USD 467 million in NGP’s Taiwan operations, positioning it as one of the largest renewable energy investments in Asia outside of South Korea.
NGP will continue focusing on fishery-solar hybrid projects, with three more sites expected to begin operation next year. The company is also expanding its rooftop and ground-mounted solar installations, while investments in charging stations are being facilitated through an investment in EVOASIS, an EV charging service company in Taiwan. Additionally, NGP has applied for a power sale license with Taiwan’s Ministry of Economic Affairs, with plans to start green electricity transactions early next year, targeting small and medium-sized enterprises.
CEO Tan of New Green Power in an interview with RECCESSARY (Photo: Bo-yu Lin)
Navigating new government policies: A call for speed in approvals
Looking ahead, Tan remains optimistic about Taiwan’s solar market, noting that as Taiwan increasingly embraces green energy, demand will keep rising. He pointed out that the government’s 2025 target of 20 GW in solar energy has yet to be met, with a gap of around 7 GW. With sufficient land available and solid funding, Tan is confident about the industry’s future growth.
However, he noted that Taiwan’s new administration has taken a more cautious approach to approving solar projects, leading to lengthy communications and bureaucratic processes, especially at the local government level. What used to take under a year now stretches beyond a year, causing significant project delays, Tan said.
Tan partly attributed the delays to the administrative shift, but also pointed to unscrupulous players exploiting green energy for profit, tarnishing the industry’s reputation. Such practices, he warned, have eroded developer confidence and delayed green energy supplies.
In just a decade, foreign investment and acquisitions have transformed NGP from a local Taiwanese solar developer to a fully foreign-owned enterprise. As a Singaporean national who has worked in Taiwan for nine years, Tan is optimistic about Taiwan’s potential in renewable energy. With BlackRock’s financial backing and international expertise, NGP plans to continue investing in Taiwan’s net-zero and carbon reduction efforts.