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Senao Networks Subsidiary Fuwei Faces NT$9.5 Billion Claim from Taipower
Utilities · Alternative Power Generation · economic_daily · 2026-09-24
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Senao Networks' subsidiary, Fuwei Energy, is facing a NT$9.54 billion claim from Taipower for alleged delays in an offshore wind project.
What Happened
Massive Claim Filed: Senao Networks announced that its subsidiary, Fuwei Energy, received a notice from Taipower claiming NT$9.54 billion in penalties and related costs. The claim pertains to alleged contract breaches regarding the offshore wind power phase two project.
Financial Impact: The company stated that it will assess and recognize potential losses in accordance with conservative accounting principles. Management is committed to providing timely updates as the situation evolves to ensure transparency for shareholders.
Dispute Resolution: Fuwei Energy has already filed for an extension citing severe weather conditions that hindered construction progress. The company intends to engage in active negotiations with Taipower and utilize formal dispute resolution mechanisms to protect its interests.
Strategic Outlook: While the claim poses a significant financial challenge, the company is focused on resolving the contractual impasse through legal and regulatory channels. Investors are closely monitoring the impact of this dispute on the company's long-term project pipeline.