(Jan 6): GE Vernova Inc, one of the world’s biggest gas turbine makers, says Taiwan is its fastest-growing Asian market, as the island’s plan to phase out nuclear energy forces it to rely more on the fossil fuel to power its world-leading chip-making industry.

Turning off nuclear on the island “is leading to a steeper curve of replacement demand,” and “gas is the most applicable replacement to nuclear,” said Scott Strazik, GE Vernova’s chief executive. “We have a lot of opportunity in places like Taiwan that see a lot of electricity growth with chip demands in front of it,” he said in an interview in Singapore.

Taiwan — home to major chip-makers, including the world’s biggest, Taiwan Semiconductor Manufacturing Co — plans to phase out its last nuclear reactor by May this year even as power demand is expected to rise in the coming decades. Efforts to develop offshore wind in Taiwan have also faced challenges as rising costs and worsening delays plague the industry, leaving the island with fewer low-carbon energy options. 

In Southeast Asia, GE Vernova, which was spun off from General Electric Co last year, sees opportunities in countries like Malaysia and Indonesia, where more data centres are sprouting and demand for electricity is rising.

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