LS ELECTRIC Co. has formed a strategic partnership with Taiwan’s Nan Ya Plastics Corp. to develop eco-friendly energy efficiency solutions, targeting Taiwan’s growing market for green power infrastructure.
The South Korean electrical equipment maker signed a memorandum of understanding with Nan Ya Plastics at the latter’s headquarters in Taipei on March 26. The agreement was formalized in the presence of LS ELECTRIC Chairman Koo Ja-kyun and Nan Ya Plastics Chairman Wu Chia-chao.
Under the partnership, Nan Ya Plastics will leverage its local business network to supply LS ELECTRIC’s digital power equipment to major industrial complexes across Taiwan. The collaboration is expected to extend into renewable energy sectors, including energy storage systems and smart factory solutions.
The alliance aligns with Taiwan’s energy transition goals, which include increasing renewable energy to 70% of total power sources by 2050 as part of the island’s carbon neutrality strategy.
Taiwan represents a strategic market for LS ELECTRIC as the company looks to capitalize on the country’s robust manufacturing sector, particularly its electronics and semiconductor industries. The South Korean firm hopes to accelerate its market penetration by combining its overseas renewable energy expertise with Nan Ya’s established presence.
Nan Ya Plastics, a member of Formosa Plastics Group founded in 1958, is Taiwan’s largest petrochemical company.
