Taiwan Cement Corp plans to spend TWD980m (US$32.45) on a green energy project at the Changhua Coastal Industrial Park. The project involves the development of photovoltaic systems and onshore wind farms, according to the Taipei Times.

The project intends to regenerate the company’s unused facilities at the industrial park. Due to begin operations in 2Q18, it is expected that 20MW of electricity will be produced when fully operational.

Alongside these plans, Taiwan Cement released its financial results for both 3Q17 and 9M17. The net income of the company decreased 15.27 per cent YoY to TWD1.97bn for the third quarter. However consolidated revenue for the firm increased to TWD23.06bn, an increase of 3.17 per cent YoY.

The cement producer saw a net income of TWD4.95bn for the 9M17 period ended 30 September, an increase of 8.86 per cent when compared to the year-ago period. The total revenue over the nine months rose by 9.42 per cent YoY to TWD68.95bn.