【New News】Temple Funds and 'No Rice, No Life' Draw Attention: Hon Hai and KGI Joint Venture Green Energy Company Aggressively Acquires Solar Project Equity

The green energy company 'Kaihong Energy,' jointly established by KGI Financial Holding and Hon Hai, is aggressively acquiring equity in solar power projects across central and southern Taiwan. Beyond its initial focus on the Yunlin Kouhu land subsidence area, Kaihong acquired stakes in several solar companies at the end of last year, including 'Hsi Yang Capital,' closely associated with the family of former Hsinchu County Magistrate Cheng Yung-chin, and 'Jin Nong Electric Power,' a subsidiary of Tainan-based aqua-photovoltaic developer 'Jin Hua Energy.' These acquisitions are strategic moves to prepare for the upcoming 60MW aqua-photovoltaic project in Kaohsiung's Luzhu District, indicating Kaihong Energy's strong ambitions in the green power market.

In October 2024, the Ministry of Justice launched 'Operation Jingping' to crack down on 'solar cockroaches'—unscrupulous actors in the solar energy sector. The operation targeted green energy lease bidding cases on public land in Changhua's Zhutang and Yunlin's Erlun. Investigations revealed that during the tenure of Erlun Township Mayor Chung Tung-jung, two public land lease projects—the Ziqiang Farmers' Market and landfill restoration site—were allegedly facilitated through a middleman, Tsai Yueh-yang. Tsai approached Taiwan's largest solar operator, 'CTBC Power,' to bid on the projects, after which the engineering contracts were subcontracted to 'Kai-Chih Green Technology,' a firm controlled by Tsai, raising serious concerns about corruption and backdoor dealings in public renewable energy development.