February 21, 2024
MANIES GROUP Co., Ltd.

Announcement of Business Partnership for Joint Mega-Solar
Development in Taiwan

MANIES GROUP Co., Ltd (hereinafter referred to as “Manies”) and Mercuria Holdings Co., Ltd. (“Mercuria”) have signed a business alliance for the joint development of mega-solar power plants in Taiwan.
For the first project, a project company jointly established by both Manies and Mercuria acquired the development rights for a solar power plant with an installed capacity of 100 to 150 MW in the central region of Taiwan (hereinafter referred to as ‘this project’). The Project aims to complete construction by the end of fiscal 2027.

Manies plans to partner with Mercuria, renowned for its proven track record in fund management and investment in mega-solar development projects in Taiwan. Both together, aim to acquire development rights for mega-solar power plants, focusing on symbiosis with fishing and power generation, which is expected to become the mainstream type of mega-solar power plants in Taiwan. This business alliance is intended to create investment opportunities in Taiwanese mega-solar projects for investors mainly from Japan and other Asian countries.

Manies will continue to identify promising business opportunities through the sourcing network in Taiwan and will actively work to create business opportunities that contribute to decarbonization through domestic and international networks.

About this project

Image of a fishery and solar power generation plant

Source: Taiwan Council of Agriculture, Aquaculture Research Center “Clam pond and Solar Power Model” (2019 the Fishery-Solar Symbiosis Trial Results Presentation) Photo on the left: featured on page5. Photo on the right: featured on page8.

Solar power plant market in Taiwan
Taiwan has a flourishing manufacturing industry, leading to a per capita electricity consumption exceeding 1.6 times that of Japan, and the market is highly dependent on thermal power generation. To achieve carbon neutrality by 2050, the Taiwanese government has set targets for solar PV capacity installation of 20 GW by 2025, 30 GW by 2030, and 40 to 80 GW by 2050. In particular, the government considers “symbiosis with fishing and power generation,” in which solar panels are installed on top of shrimp, clam, and other aquaculture ponds, as a new method of solar power generation, and aims to introduce 4 GW by 2025 using this method.

However, the actual introduction of solar power generation in Taiwan by 2023 was 10.72 GW, approximately 50% of the target set for 2025. With the need to accelerate the introduction of solar power generation in the future, Taiwan is anticipated to sustain strong demand for funds dedicated to mega-solar development projects.

Comments from Company Representatives
<The comment from Toshihiro Toyoshima, CEO of Mercuria Holdings Co., Ltd. >
I am delighted that we can form a business partnership with MANIES GROUP Co., Ltd. for the joint development of the mega-solar projects in Taiwan this time.
This is a large-scale investment project aligned with our corporate philosophy, which focuses on business and asset investment that capitalizes on expanding business opportunities beyond borders and established concepts. While utilizing the asset management expertise, primarily focused on real assets, that Mercuria has cultivated over time, partnering with MANIES GROUP, which possesses strong project management capabilities in Taiwan and expertise in politics, economics, and the legal landscape, enables us to combine technology and know-how of both companies. Together, we are committed to creating higher value for the contribution to advanced decarbonization.

<The comment from Hirotsugu Fujii, CEO of MANIES GROUP Co., Ltd. >
As a next-generation business creator, MANIES GROUP has been a pioneer in renewable energy projects in Taiwan. Through this business partnership, we aspire to further advance business collaborations in Taiwan and Japan by planning and executing large-scale projects beyond our previous scope. Simultaneously, we are committed to providing solutions for the global challenge of climate change with Mercuria, extending solar initiatives to explore new opportunities in the renewable energy sector.

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*For inquiries regarding this release, please contact
MANIES GROUP Co., Ltd.
Website: https://en.manies-ai.com/
Mail: manies@manies-ai.com
Tel: 03-6206-3309