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| Title: | 離岸風電開發商在臺發展之策略分析 - 以沃旭能源為例
Strategic Analysis of Offshore Wind Developer in Taiwan: Orsted |
| Authors: | 謝佳華
Hsieh, Chia-Hua |
| Contributors: | 謝凱宇
Hsieh, Kai-Yu
謝佳華
Hsieh, Chia-Hua |
| Keywords: | 離岸風電
離岸風電開發商
沃旭能源
市場進入策略
商業模式分析
Offshore Wind Energy
Offshore Wind Farm Developer
Orsted
Market Entry Strategy
Business Model Analysis |
| Date: | 2025 |
| Issue Date: | 2025-08-04 13:41:57 (UTC+8) |
| Abstract: | 面對全球氣候變遷與能源轉型趨勢，再生能源已成為各國政府的重要發展目標。離岸風電因具有大規模、低碳與具發展潛力等優勢，近年成為再生能源政策核心一。臺灣自 2016 年起推動離岸風電產業，歷經示範風場、潛力場址與區塊開發三階段，逐步建立制度架構與市場規模。在此脈絡下，全球最大離岸風電開發商沃旭能源 (Ørsted）自 2016 年進入臺灣市場，參與示範風場開發，並持續投入大彰化風場系列建設，成為推動臺灣能源轉型的關鍵外資業者之一。
本研究以沃旭能源為個案，探討其在臺灣市場的策略發展、商業模式與所面臨之關鍵挑戰。透過文件資料分析與專家訪談，本文重構沃旭能源於各開發階段（示範、潛力場址、區塊開發）之策略佈局與關鍵決策。研究發現，沃旭初期採取合資模式參與 Formosa I 示範風場，成功建立在地經驗與政府溝通基礎；潛力場址階段則透過財務實力與技術能力取得大規模併網容量，建立市場領導地位；惟於區塊開發 3-2 階段，競標之大彰化東北風場排名第三，與風睿能源海廣風場區位高度重疊，最終未獲選。推論原因為在國產化項目評分上未能展現相對優勢，顯示在國產化政策導向強化下，國際開發商策略調整與在地合作關係重組成為新課題。
研究亦分析沃旭商業模式以政府購電合約（PPA）與企業購電合約（CPPA）為核心，藉由長期合約確保穩定現金流與融資能力，並透過與大型企業如臺積電簽訂
CPPA 進一步強化收入來源的多元化與企業永續價值鏈的連結。此外，沃旭善用其全球資源，展現出技術移轉能力與知識協作模式，推動本地供應鏈升級，實現國際標準在地化。
本研究最後提出兩項策略建議：其一為強化與政府在產業關聯性評分機制的對話，適時彰顯企業在技術可行性與風場交付能力上的比較優勢；其二則為考量與本地開發商策略聯盟，透過結合資本與地方經營優勢，重建競標競爭力，藉此回應當前制度環境的變化，並延續其作為臺灣能源轉型長期夥伴的角色。
In response to global climate change and the pressing need for energy transition, offshore wind power has emerged as a key component of renewable energy strategies worldwide. Taiwan, aiming to reduce its dependence on imported fossil fuels, has actively promoted offshore wind development through a three-stage policy framework: demonstration
projects, potential site development, and zonal development. Within this context, Ørsted—currently the world’s largest offshore wind developer—entered the Taiwan market in 2016
and has since played a pioneering role in shaping the local offshore wind industry.
This research adopts a case study approach to analyze Ørsted’s strategic development, business model, and key challenges in Taiwan. Drawing from secondary data and expert
interviews, the study reconstructs Ørsted’s market entry strategy, partnership decisions, and project development trajectories across different regulatory phases. The findings reveal that Ørsted initially adopted a joint venture model to enter Taiwan via the Formosa I
demonstration project, successfully establishing local operational experience and stakeholder trust. In the potential site phase, Ørsted leveraged its financial strength and technological expertise to secure significant grid capacity. However, in the 3-2 phase of zonal development, its bid for the Changhua Northeast wind farm ranked third and ultimately failed to secure allocation due to substantial geographic overlap with the second-ranked Sea Wind Energy (SRE) project. It is inferred that Ørsted’s relatively moderate score in the localization evaluation may have hindered its competitiveness, highlighting the growing importance of industrial relevance under Taiwan’s evolving localization-oriented policies.
The study further explores Ørsted’s business model, which is centered on long-term Power Purchase Agreements (PPA) with the government and Corporate Power Purchase Agreements (CPPA) with private companies. These contracts ensure stable cash flow, reduce project financing risk, and align with the sustainability goals of corporate clients. The company’s collaboration with TSMC on the world’s largest CPPA exemplifies its strategic alignment with market demands. Additionally, Ørsted’s commitment to knowledge transfer
and localization—through training programs, EPC partnerships, and quality management— has played a significant role in upgrading Taiwan’s offshore wind supply chain.
Based on the analysis, this paper proposes two strategic directions for Ørsted: (1) actively engage with policymakers to emphasize the importance of technical feasibility and execution capability in project evaluations; and (2) consider forming strategic alliances with local
developers to combine global expertise with local insight, thereby enhancing competitiveness under the current policy framework. These strategies aim to support Ørsted’s long-term positioning in Taiwan and reinforce its contribution to the country’s energy transition. |
| Reference: | 中文文獻
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中文新聞資訊
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umaylikenews_money_index
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https://tw.stock.yahoo.com/news/%E9%A2%A8%E9%9B%BB%E5%9C%8B%E7%94%A2%E5%8C%96%E4%BB%A5%E5%A4%B1%E6%95%97%E5%91%8A%E7%B5%82-%E7%B6%93%E6%BF%9F%E9%83%A8%E5%8F%8D%E6%93%8A-%E9%A2%A8%E9%9B%BB%E8%BA%89%E8%B3%BC%E5%88%B6%E5%BA%A6%
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網站資訊
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其他
1.東尼能源小教室（2024 年5 月1 日）。【離岸風電衝刺班_308】第三章「台灣離岸風電史」總整理（第 4 季第8 集）[Podcast 節目]。Apple Podcasts。
https://podcasts.apple.com/tw/podcast/%E6%9D%B1%E5%B0%BC%E8%83%BD%E6%B
A%90%E5%B0%8F%E6%95%99%E5%AE%A4/id1674826081?i=1000654173565
企業年報
Ørsted Annual Report 2019-2024 |
| Description: | 碩士
國立政治大學
企業管理研究所(MBA學位學程)
112363001 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0112363001 |
| Data Type: | thesis |
| Appears in Collections: | [企業管理研究所（MBA學位學程）] 學位論文
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| 300101.pdf | | 1929Kb | Adobe PDF | 0 | View/Open |
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