Foxwell Energy Gets Budget Addition for Offshore Wind Phase 2; Taipower Agrees to Pay Over NT$5.5 Billion
Shinfox Energy's subsidiary, Foxwell Energy, secured an additional NT$5.55 billion from Taipower via mediation for its Phase 2 offshore wind project, compensating for massive cost overruns caused by inflation and the Russia-Ukraine war.
📋 Article Processing Timeline
- 📰 Published: April 17, 2026 at 21:39
- 🔍 Collected: April 17, 2026 at 22:01 (22 min after Published)
- 🤖 AI Analyzed: April 18, 2026 at 21:36 (23h 34m after Collected)
Central News Agency
(CNA Reporter Pan Chih-yi, Taipei, 17th) Shinfox Energy issued a material information announcement tonight on behalf of its subsidiary, Foxwell Energy. While contracting Taipower's "Offshore Wind Power Generation Phase II Project - Wind Farm Property Procurement with Installation," unpredictable factors such as inflation and interest rate hikes caused by the Russia-Ukraine war occurred during the procurement and contracting period. Foxwell Energy applied to Taipower for an additional budget, and Taipower agreed to pay NT$5,556,933,697.
Foxlink, along with its group affiliates Shinfox Energy and Uway Holding, held a material information press conference on November 13, 2025. Shinfox Energy announced that its subsidiary Foxwell Energy was impacted by contracting the offshore wind phase 2 project and preemptively recognized losses, resulting in a book loss of NT$7.736 billion in the third quarter of last year. Foxlink and Uway recognized losses based on their shareholding ratios of 24.87% and 44.16%, respectively.
Shinfox Energy's book loss of NT$7.736 billion in Q3 2025, combined with a loss of NT$4.43 billion in the first half of the year, brought the accumulated loss for the first three quarters of last year to a staggering NT$12.172 billion. However, Shinfox Energy emphasized that its net worth still maintained NT$4.869 billion, and its financial constitution remains sound.
At that time, Shinfox also announced high-level personnel changes. Hu Hui-sen, General Manager of Shinfox Energy, resigned, and the vacancy was temporarily filled by Shinfox Energy Chairman Gou Tai-chiang. Pu Da-wei, General Manager of Foxwell Energy, also resigned, and the vacancy was temporarily filled by Foxwell Energy Chairman Hu Hui-sen.
Shinfox Energy explained that its application for the additional budget from Taipower was originally not approved. After seeking mediation from the Public Construction Commission of the Executive Yuan, they obtained the mediation settlement document today, in which Taipower agreed to pay NT$5,556,933,697. (Editor: Chang Liang-chih) 1150417
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(CNA Reporter Pan Chih-yi, Taipei, 17th) Shinfox Energy issued a material information announcement tonight on behalf of its subsidiary, Foxwell Energy. While contracting Taipower's "Offshore Wind Power Generation Phase II Project - Wind Farm Property Procurement with Installation," unpredictable factors such as inflation and interest rate hikes caused by the Russia-Ukraine war occurred during the procurement and contracting period. Foxwell Energy applied to Taipower for an additional budget, and Taipower agreed to pay NT$5,556,933,697.
Foxlink, along with its group affiliates Shinfox Energy and Uway Holding, held a material information press conference on November 13, 2025. Shinfox Energy announced that its subsidiary Foxwell Energy was impacted by contracting the offshore wind phase 2 project and preemptively recognized losses, resulting in a book loss of NT$7.736 billion in the third quarter of last year. Foxlink and Uway recognized losses based on their shareholding ratios of 24.87% and 44.16%, respectively.
Shinfox Energy's book loss of NT$7.736 billion in Q3 2025, combined with a loss of NT$4.43 billion in the first half of the year, brought the accumulated loss for the first three quarters of last year to a staggering NT$12.172 billion. However, Shinfox Energy emphasized that its net worth still maintained NT$4.869 billion, and its financial constitution remains sound.
At that time, Shinfox also announced high-level personnel changes. Hu Hui-sen, General Manager of Shinfox Energy, resigned, and the vacancy was temporarily filled by Shinfox Energy Chairman Gou Tai-chiang. Pu Da-wei, General Manager of Foxwell Energy, also resigned, and the vacancy was temporarily filled by Foxwell Energy Chairman Hu Hui-sen.
Shinfox Energy explained that its application for the additional budget from Taipower was originally not approved. After seeking mediation from the Public Construction Commission of the Executive Yuan, they obtained the mediation settlement document today, in which Taipower agreed to pay NT$5,556,933,697. (Editor: Chang Liang-chih) 1150417
Choose to stand with the facts; every sponsorship from you is the power to protect press freedom.
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The text, images, and audio/video on this website may not be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.