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Taiwan to invest $1.4 bln in renewable energy

Taiwan to invest $1.4 bln in renewable energy(By Kelvin Soh, via Reuters)TAIPEI, Taiwan's government will invest T$45 billion ($1.4 billion) in the

island's domestic renewable energy sector, it said on Tuesday, in a move it

says will help the sector grow nearly eight-fold by 2015.The island's government said it now aims to increase industry production

value to T$1.158 trillion in 2015 compared to T$160.3 billion right now."The green energy sector can turn Taiwan into a major power in energy

technology and production, as well as provide the creation of green jobs,"

Taiwan's Premier Liu Chao-shiuan said in a statement.The statement did not say over what period the investment would be made.The move is likely to further propel shares of companies specialising in

alternative energy and energy efficiency, with firms such as LED

manufacturer Lite-On Corp (2301.TW) and Epistar Corp (2448.TW) expected to

benefit from the investment.Other companies such as top contract chipmaker TSMC (2330.TW) and

electronics giant Hon Hai (2317.TW) have also announced plans to enter the

sector, as they diversify away from the increasingly competitive

manufacturing stronghold.For the very latest green jobs from across Asia and globally please click