Taiwan’s biggest electricity producer, Taiwan Power Co. has sold NT$6.99 billion (US$203 million) of bonds to facilitate fund purchases of new generators as well as to build transmissions lines. Taipei-based Taiwan Power informed in an e-mailed statement Friday (13 March) that the state-run utility sold NT$3.89 billion of five years notes and NT$3.1 billion of seven years bonds. The utility has an Aaa.tw rating from Moody’s Investors Service. The rating is the highest for any Taiwanese company. More to the point, Moody’s has a separate rating system for Taiwan. Taiwan Power Co is also known as Taipower.

Earlier Chief Engineer Tu Yueh-yuan said Taiwan Power needs to borrow NT$200 billion in 2009 to fund spending, including NT$158 billion of investments in power plants and transmission lines.  He said it on January 14. The authority said the five-year securities priced will pay an annual interest of 1.61% and the seven-year debt 1.87%. The state owns 97% of Taipower and it generates around 75% of the electricity the island uses and monopolizes transmission.

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