Shinfox Energy in Financial Trouble; Minister of Economic Affairs: Youtian Wind Farm Will Continue Regardless of Who Takes Over
Shinfox Energy is facing financial difficulties and has been delisted. Amid concerns about delays in the development of its Youtian wind farm, the Minister of Economic Affairs stated, 'The project will continue no matter who takes over,' in an effort to calm market fears.
📋 Article Processing Timeline
- 📰 Published: May 14, 2026 at 17:47
- 🔍 Collected: May 14, 2026 at 18:02 (15 min after Published)
- 🤖 AI Analyzed: May 14, 2026 at 19:31 (1h 28m after Collected)
(Central News Agency, Taipei, 14th, Reporters Hsieh Yi-hsuan, Tseng Yun-ting) Shinfox Energy's operating losses have raised concerns that the development progress of the Youtian wind farm will be affected. Some industry players have called for state-owned enterprises to form a 'national team' to take over the wind farm. In response, Minister of Economic Affairs Gong Ming-xin stated today that he still needs to understand the operator's thoughts. 'The Youtian wind farm is a very good wind farm,' he said, and assured that the wind farm project will continue, whether the original operator continues the work or another party takes over, so there is no need to worry.
Shinfox Energy's subsidiary, Fuwei Energy, undertook Taipower's 'Offshore Wind Power Phase 2 Project - Wind Farm Asset Procurement with Installation Case.' During the procurement and bidding period, factors such as the Russia-Ukraine war led to inflation and interest rate hikes, causing losses. Shinfox Energy announced yesterday that its first-quarter loss per share was NT$6.73, with a negative net worth of NT$182.23 million. The stock exchange announced that Shinfox Energy will be delisted starting June 23.
With Shinfox Energy in financial trouble, there are external doubts that the development progress of its Youtian wind farm could be affected, and some in the industry have called for state-owned enterprises like Taipower and Chunghwa Telecom to form a national team to take it over.
Gong Ming-xin chaired the Ministry of Economic Affairs' business meeting today and was asked by the media about his views on the Youtian wind farm before the meeting. He said he still needs to understand the operator's thoughts, adding, 'The Youtian wind farm is a very good wind farm, the site is excellent.' He assured that the wind farm project will continue, whether the original operator continues the work or another party takes over, and that people can be at ease.
When asked by the media if the Ministry of Economic Affairs would lead a national team to take over, Gong Ming-xin emphasized that the first priority is to understand Shinfox Energy's willingness. If the operator believes it can handle the situation itself, its wishes will be respected according to the contract.
Regarding whether Shinfox Energy's delisting crisis will affect market confidence in the block development 3-3 phase, Gong said, 'This is an individual company's financial problem,' and it should not affect market confidence. Furthermore, based on the implementation experience of phases 3-1 and 3-2, the government has increased the weight of financial indicators in the selection stage of phase 3-3 to ensure the financial health and soundness of developers.
A fire broke out in an old warehouse at the entrance of the Kuosheng Nuclear Power Plant in Wanli District, New Taipei City, early this morning. The burning materials were mainly miscellaneous items such as paper documents. Some media asked if he was worried that the accident would affect public confidence in nuclear safety.
Gong responded that the location of the fire was far from the plant's units, and the fire protection mechanism inside the plant was quickly activated when the fire broke out, extinguishing the fire in a short time. A comprehensive inventory and investigation into the cause of the fire will follow. The current possible cause is related to the miscellaneous items stored in the old warehouse. (Editor: Pan Yi-ching) 1150514
Stand with the facts. Your every sponsorship is a force for protecting press freedom.
Download the Central News Agency's 'First-Hand News' APP to get the latest news in real-time.
The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or used without authorization.
Shinfox Energy's subsidiary, Fuwei Energy, undertook Taipower's 'Offshore Wind Power Phase 2 Project - Wind Farm Asset Procurement with Installation Case.' During the procurement and bidding period, factors such as the Russia-Ukraine war led to inflation and interest rate hikes, causing losses. Shinfox Energy announced yesterday that its first-quarter loss per share was NT$6.73, with a negative net worth of NT$182.23 million. The stock exchange announced that Shinfox Energy will be delisted starting June 23.
With Shinfox Energy in financial trouble, there are external doubts that the development progress of its Youtian wind farm could be affected, and some in the industry have called for state-owned enterprises like Taipower and Chunghwa Telecom to form a national team to take it over.
Gong Ming-xin chaired the Ministry of Economic Affairs' business meeting today and was asked by the media about his views on the Youtian wind farm before the meeting. He said he still needs to understand the operator's thoughts, adding, 'The Youtian wind farm is a very good wind farm, the site is excellent.' He assured that the wind farm project will continue, whether the original operator continues the work or another party takes over, and that people can be at ease.
When asked by the media if the Ministry of Economic Affairs would lead a national team to take over, Gong Ming-xin emphasized that the first priority is to understand Shinfox Energy's willingness. If the operator believes it can handle the situation itself, its wishes will be respected according to the contract.
Regarding whether Shinfox Energy's delisting crisis will affect market confidence in the block development 3-3 phase, Gong said, 'This is an individual company's financial problem,' and it should not affect market confidence. Furthermore, based on the implementation experience of phases 3-1 and 3-2, the government has increased the weight of financial indicators in the selection stage of phase 3-3 to ensure the financial health and soundness of developers.
A fire broke out in an old warehouse at the entrance of the Kuosheng Nuclear Power Plant in Wanli District, New Taipei City, early this morning. The burning materials were mainly miscellaneous items such as paper documents. Some media asked if he was worried that the accident would affect public confidence in nuclear safety.
Gong responded that the location of the fire was far from the plant's units, and the fire protection mechanism inside the plant was quickly activated when the fire broke out, extinguishing the fire in a short time. A comprehensive inventory and investigation into the cause of the fire will follow. The current possible cause is related to the miscellaneous items stored in the old warehouse. (Editor: Pan Yi-ching) 1150514
Stand with the facts. Your every sponsorship is a force for protecting press freedom.
Download the Central News Agency's 'First-Hand News' APP to get the latest news in real-time.
The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or used without authorization.