Taiwan plans to invest 45 billion Taiwan dollars (1.33 billion) over five years as part of its move to develop clean energy, officials said Thursday.
Taipei would budget 20 billion dollars for various clean energy-related research and development projects, according to a proposal approved during a cabinet meeting, the government said in a statement.
A further 25 billion dollars would be allocated in subsidies for solar power, light-emitting diodes, wind power, biofuels, hydrogen energy and fuel cells, and electric cars, it said.
The government also hopes to attract investment worth 200 billion Taiwan dollars from the private sector.
Last week, Taiwan's National Energy Conference, bringing together 205 representatives from government, academia and business, reached a consensus on cutting the island's carbon dioxide emissions to 2008 levels at some point between 2016-2020.
— Dow Jones Newswires contributed to this story —
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