Breakingviews - TSMC can fix Taiwan’s stalled green transition
Visitors look at a display of a semiconductor device at Semicon China, a trade fair for semiconductor technology, in Shanghai, China March 17, 2021. REUTERS/Aly Song - RC2XCM9R7UMPHONG KONG, Dec 17 - After conquering semiconductors, Taiwan Semiconductor Manufacturing, the world’s biggest chipmaker has a new challenge: kickstarting Taiwan’s stalled green transition. Bureaucracy and red tape have marred the island’s renewable-energy goals.
On paper that’s doable, but in practice it looks increasingly out of reach. Covid-19 disruptions held up wind and solar projects, but lengthy and complex approval processes are also to blame. Offshore wind developers, for instance, must obtain consent letters from at least eight different authorities as well as approval from the environmental watchdog even to be eligible to bid for projects.
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