According to the World Bank Group, global economy contract by 4.3%in 2020 due to COVID -19 pandemic. In the long term, negative impact on investment and employment remains, global economy is still expected to recover in 2021, however at weaker rate. The severe climate catastrophes caused by global warming persists, governments around world is using aggressive policies to reach carbon neutral, this lead to continue growth in development of renewable energy sector. The consolidated revenue of URE reached NT$12.5 billion. With hard work and dedication from all our employees, the sales volume of solar cell and module increased significantly and URE maintain leadership position in Taiwan market.
At the moment URE mass produce p-Perc monocrystalline solar cell “Black 22” and “BiFi”, with conversion efficiency reach 22.9%, the LID and PID outperformed traditional solar cell. URE continued to develop high conversion and efficiency products such as “Peach” M6 450W and M10 530W module products for international market. URE double glass half cut module “Glory Peach” can reach 420W in front which has same efficiency as 470W , 1500VDC design, lowLID, PID resistant and passed 10x IEC test. At same time its weight is 20% lighter, thus bought new era to the bifacial modules. URE continued to patent numerous licenses, and produce products that are resistant to salt erosion and environmental friendly.The products also complied with ITRI standard as no water pollution as per water quality standard by EPA. The products are especially suited to Taiwan environment.
URE solar cell and module was awarded Taiwan Excellent PV award by Bureau of Energy, Ministry of Economic Affairs in 2020, and its eight consecutive years that URE has the honor of receiving this award. URE module passes the newest and most strict testing by organizations such as TUV Rheinland and IEC, and was certified by the organizations, at same time URE product also certified as clean energy product by organizations from numerous countries. URE was also on the list of Bloomberg New Energy Finance Tier 1 Module Manufacturer List in 2020, further recognized URE’s excellence in the PV field.
URE expands downstream solar system project business actively. URE has built up its core competences in development, construction, sales, and financing for global solar system projects. As well as providing O&M service for solar system. URE is largest developer of PV systems in Taiwan, with accumulated installed capacity and project under development/construction over 1.5GW.In overseas market, URE forms strategic alliances with internationally renowned renewable energy management companies. URE focus on the development of the projects and sold it to asset management companies. In USA, URE is expected to sell 50MW of solar station to Empower, at same time URE continue to work with local EPC to complete utility scale project of 60MW in State of Maine. In UK, URE is expected to complete development and sale of 100MW of solar station to Aviva. In Taiwan, URE group win about 50MW of government projects in Yilan, Tainan, Yunlin and various school roofs projects in 4thquarter of 2020. Recently we also win project from Taiwan Railway and Taiwan Water Corporation. URE is able to provide one stop services from professional consultation to module supply to customers, which increase URE’s competitiveness. URE also have large utility scale projects in Yunlin, Changhua, Pingtung in development, those will be largest projects in next 5years. According to Bloomberg New Energy Finance forecast, as much as 209 GW of solar PV could be installed globally in 2021. Due to the future potential and stable income from solar system, URE will aggressively develop global solar system business which can also create demand for solar cell and module products and driving future growth.
In order to provide total solutions for the renewable energy, URE invested in design and development of Energy Storage System (ESS) products in ZEUS series, URE’s industrial ESS is the first in Taiwan to achieve UL9540 certification by UL laboratory and can stabilize theintermittent renewable power. URE collaborated with UL to develop product, and also passed the UL9540 test in heated environment. URE’s BMS was certified with IEC 60730, and reliability is foremost in the market. According to U.S. Department of Energy, annual global deployments of stationary storage (excluding PSH) are projected to exceed 300 GWh in 2030, representing a 27% compound annual growth rate.
URE successfully developed the first hydrogen fuel cell vehicle, but it’s still unable to compete in terms of cost with traditional scooters and lack of hydrogen fuel stations, URE decide to stop the plan to develop hydrogen fuel scooters. But with zero emission, the hydrogen fuel cell electric scooter is the first choice to reduce air pollution. Hydrogen fuel cells technology provided people an alternative for clean energy. The hydrogen fuel cell can still be use in all kinds of transportation vehicle such as drone, truck, bus etc.
As leader in the Solar industry and outstanding Corporate Citizen, URE feels oblige to promote clean energy, energy conservation to our customers, user, partner and general public around the world, URE feels it’s our duty to care for the environment and make contribution to society. URE will continue to focus on module brand and solar system business, improve competitiveness of Taiwan solar industry. With the support from government fund and policy, URE will strive to assist Taiwan energy supply sector complete transformation, and reached government target of cumulated installed solar PV capacity of 20GW by 2025. The future plan, operation strategies and competitiveness from short to long term are listed as follows:
Total production capacity of solar cell is about 2.7GW, the module production capacity will reach 1.5GW in 2-3 years with vertical integration, and downstream system business will reach 1.5GW within next 5 years.
Research and Development
URE maintain leadership position with investment in technology. In N-type solar cell conversion efficiency could reach 23.5% in second half of 2021. Bifacial HJT products “Glory HELLO), the highest conversion efficiency could reach 24.5, power output 340W equivalent to module conversion efficiency of 20.8%, and right now it’s in mass production.
In order to keep up with growing global demand for renewable energy, URE will continue to expand in existing market and improve penetration to the newly developed market for customers. At same time, utilized growth potential in Taiwan domestic market, expand module production capacity and develop high end module brand. URE will build a strong system sales team in order to develop global system business and sales channel.
In domestic market, with URE premium quality solar cell and module products, and Taiwan Government’s short term goal of 8.75GW accumulated PV capacity by 2021, and long term goal of 20GW accumulated PV capacity by 2025, URE will continue to expand domestic system business. And use experience accumulated in domestic market to aggressively develop international system business. The overseas pipeline projects are expected to be above 100MW, URE will continue to develop US solar projects. In the future, with vertical integration of solar industry, URE will be able to provide total solution to our customers.
New Business Development
2021 is the beginning of new era for Energy Storage Systems, the important policy such as Articles for “major user of electricity” and “trial platform for trading of energy” will be implemented this year.URE’s industrial energy storage system is just right for customers who are major user of electricity and complied with Taiwan Power’s platform.
Looking forward, the development of Photovoltaic technologies would be an important key for the continuation of life on earth. United Renewable Energy will allow Taiwan’s solar cell industry to get rid of its role as foundries and further urge the green energy industry to root and grow strongly in Taiwan. While keeping its leading role in the industry, we are making incessant efforts in elevating the conversion efficiency and quality of our solar cells and modules, while actively developing the business of downstream solar power system projects. The Company will also incorporate its environmental passion into its core competencies, and align its business strategies with the concept of sustainability development. It is hoped that these initiatives will create a positive influence to the society. We are committed to bringing light and warm to the world, making itself a benchmark company in the global PV industry. United Renewable Energy, a name for sustainable development – “We Make the World Greener”!
Stakeholders communication and material issues’ identification
The identification and communication of stakeholders not only are the core foundation of corporate social responsibility, but also are an important reference for enterprises to implement sustainable operation. Holding an open attitude and adopting multiple views, URE refers to The GRI Standards, identifies 18 sustainable issues on the economic, environmental and social dimensions, and learns about various stakeholders’ attention and expectation to URE continuous issues through many channels like issuing questionnaires and interviews, so as to explore the treatment blind spots and risks that URE may face, and take them as references for social responsibility management. URE strives to faithfully and completely display the development of URE and makes all efforts to take corporate social responsibilities.
Following the GRI Standards, URE conducted the stakeholders and material issues analysis based on the following steps to confirm the disclosure of performance parameters in the 2017 CSR report: the identification of material issues and stakeholders, the investigation and analysis of material issues, the confirmation of the boundaries and scope of material issues.
Establish process of Corporate Social Responsibility Report
Review latest ESG Report
Step. 1 Identification
Five major stakeholders groups
18 sustainability topics
Step. 2 Investigation and Analysis
Step. 3 Confirm
Stakeholders influence URE or affected individuals or groups. We identify the stakeholders according to the operational and business nature, and the economic, environmental and social working groups under the CSR Office, although the solar industry has experienced dramatic price fluctuations in recent years. However, since the stakeholders have not changed much, URE uses the identification method of previous years: through the AA1000 SES: 2015 Stakeholder Engagement Standard (SES) guidelines, according to the responsibility and influence of the stakeholders. The five principles of strength, dependence, tension and multiple perspectives identified five major groups of government stakeholders, customers, suppliers/contractors/contractors, employees and shareholders/investors.
Stakeholders communication channel and respond
It is the basic requirement of the enterprise that the government supervises and checks the compliance of the company's laws and regulations and meets and responds to the government's laws and regulations.
・ Anti-corruption and grievance system
・ Economic performance
・ Customer privacy
・ Sewage and waste discharge
・ Energy discharge
・ Occupational Safety and Health and eco-friendliness issue
Shareholders and investors
Shareholders and investors are the main sources of the company's funding. They are committed to improving the transparency of information disclosure to reduce information asymmetry.
・ Economic performance
・ Corporate Governance/Corporate strategy/Future growing and potential
・ Industry prospection
・ Risk Management and reactive
The customer is the main source of revenue for the company. We understand that the quality of service will affect the customer's trust in company and the opportunities for continued cooperation in the future; therefore, we adhere to quality service and pay attention to our customer needs.
・ Marketing and beacons
・ Brand Image
・ Customer service/Customer relation maintain
・ Product liability
・ Customer privacy
Employees are important and the greatest company’s assets. And also the driver of the company's continued growth, giving employees a good and safe working environment, and establishing a mutual trust in labor relations can maintain the company's technological leadership and competitiveness.
・ Occupational Safety and Health
・ Labor relationship
・ Training and Education
・ Diversified and equal opportunities for employees
・ No discrimination
・ Labor relationship
Suppliers, contractors and outsourcers are the main sources of raw materials and production equipment of company. Maintaining a long-term and close partnerships with suppliers can also reduce uncertainty in supply and delivery and increase customer satisfaction.
・Supplier management and audit
Major issue analysis and respond
The ESG Office takes stakeholder's concern for the sustainability theme. The combined regenerative energy operational impact score plus of more than 15 points is a major sustainability theme, with seven items. At the same time, the ESG office considers the balance of the theme and adds two major sustainability themes. In 2017, major sustainability themes include: ethical integrity, economic performance, compliance, energy conservation, carbon reduction, sewage and waste, labor-management communication, compensation and benefits, occupational safety and health, total of nine major sustainability themes.
Stakeholder attention at sustainability types
Analysis and influences in type of material issues
Major sustainability topics and performance indicators
・ Ethics and Integrity
Based on a clean and responsible business philosophy, we develop a policy based on integrity and establish a good corporate governance and risk management mechanism to create a sustainable business environment. Establish a corporate culture of integrity management and establish a reference structure for business operations.
Expose chapter: Ethics and Integrity and Regulator compliance
・ Economic performance
Continued growth in operational performance creates a positive cycle that provides the driving force behind URE's development.
Expose chapter: Operating performance
・ Regulator compliance
From the aspects of corporate governance, anti-corruption, pollution prevention, labor human rights, occupational safety, etc., URE conform to the legal norms, and it is also the basic spirit of moving towards sustainable management. From the perspective of social welfare, it is to enable URE to strengthen its corporate responsibility and discipline.
Expose chapter: Regulator compliance
URE as a member of the green energy industry, we keep contributed our efforts to slow down global warming and to reduce the impact of production activities and services on the environment.
With a certain economic scale of solar cells and module production lines, and also the ability to build ground and rooftop power systems. In addition to the continuous deployment of high-quality and efficient solar power systems around the world, and active carbon footprint verification of solar cells and module products, URE is expected to provide customers with efficient, low-carbon solar products to help customers seized the opportunity with low-carbon energy products.
・ Sewage and waste
URE is committed to mitigating the impact of global warming and manufacturing on the environment, and continuously reducing the power consumption, chemical usage and waste generation per unit of production, while also reducing water consumption and waste water treatment needs to reduce. Meanwhile, the classification of office waste continues to be promoted to increase the resource recovery rate of general activities.
Expose chapter: Water Pollution Control/Waste Management
Compared with other tangible resources, human resources have more meaning and characteristics of sustainable development. Good labor relations can effectively understand the needs and expectations of employees, to strengthen employee focus and retain outstanding talents. URE pays attention to the development of every employee. We expect everyone are happy at work. The overall salary planning and well welfare can meet the basic physiological needs of employees.
Pursuing the development of a good workplace environment, improving employee identification and allowing individual work values to grow in line with the company's corporate culture, can enable employees to meet higher levels of psychological needs. Through the construction of a well-recognized labor-management relationship, each of URE members will be able to grow up and contribute at here. The continuous stream of high-quality human resources is the secret weapon for the continuous development of URE.
Expose chapter: 'I have something to say' and improve the labor-management communication channel / overall compensation planning and well welfare / establish a friendly workplace to encourage employees to find a balance between work and life / human resources
URE invested a large amount of resources in the safety inspection of the machine for the expansion of the new machine or the transfer/machine conversion plan, including the necessary cover and interlocking devices to reduce the chance of damage to the production equipment.
URE committed to providing a safe and healthy working environment, in addition to continuing to provide health screening programs for colleagues which is superior to the law, and to carry out health promotion activities such as maternal protection, operator hazards, pressure and weight loss. The Tainan Fab was awarded on the Health Management Award by the National Health Department of the Ministry of Health and Welfare.
In conjunction with the development of Taiwan's green energy, URE participate in Taiwan Photovoltaic Industry Association (TPVIA) Environmental Safety Committee platform, draft the safety management and personnel operation protection of the solar system construction, promote and establishment of safety regulations and guidelines with the Solar Energy System Association. The period can reduce the occupational accident rate of building workers and improve the safety performance of solar power plant construction.
Expose chapter: Safe workplace/Healthy workplace