歐系風機製造商經營策略分析

Abstract

本論文旨在探討台灣離岸風電參與廠商的商業模式與政策的關係。離岸風電為台灣政府十分重視的再生能源之一，然而近年資金成本上升，台灣離岸風電政策又有國產化要求高等問題，造成開發商與風機製造商獲利風險上升，因此使廠商的投資決策與經營策略不一。台灣目前的相關研究仍缺乏以廠商視角進行分析，但若未能理解廠商邏輯，便難以理解政策與廠商佈局決策間的關係。因此，本文欲以廠商商業模式分析作為研究主軸，比較廠商間的決策及受政策影響程度的差異，進而提供產業政策建議。 本論文使用個案分析與質性訪談法，選定兩大風機製造巨頭西門子歌美颯與維特斯進行個案研究。本研究將採用產業價值鏈分析釐清產業總體環境，透過國家競爭力分析理解各市場產業競爭力，並使用商業模式九宮格討論個案廠商成本面與獲利面的資源能力，分析個案公司在不同市場經營策略的差異及政策對其決策的影響，並以市場參與者角度給予政府政策建議。 研究結果顯示，個案公司西門子與維特斯之商業模式主要差異在於企業規模、產品線及開發商關係，而企業規模更影響到兩間公司台灣市場進入模式，西門子採用高風險的綠地投資、維特斯使用合資，而兩公司的台灣市場投資方式也影響其於 亞太市場的佈局。 本論文預期能以全新的研究視角進入離岸風電產業，以提供讀者廠商商業邏輯分析，以更理解市場現況與廠商佈局決策，並使政府能在未來政策調整中，除了培植國家產業的思維外，也能從市場參與者的角度進行政策檢視。

This thesis aims to explore the relationship between the business models of offshore wind power companies in Taiwan and government policies. Offshore wind power is a renewable energy source highly valued by the Taiwanese government. However, in recent years, rising capital costs and high localization requirements in Taiwan have increased the financial risks for developers and turbine manufacturers. Consequently, these challenges have led to variations in investment decisions and business strategies among companies. Currently, relevant research in Taiwan lacks analysis from the perspective of companies. Without understanding the business logic of companies, it is difficult to comprehend the relationship between policies and companies' strategic decisions. Therefore, this study intends to use the analysis of business models as the main research focus, comparing the differences in decision-making and the extent of policy impact among companies, thereby providing policy recommendations for the industry.

Specifically, this research employs case studies and qualitative interviews, selecting two major turbine manufacturing giants, Siemens Gamesa and Vestas, for case studies. The study will use industry value chain analysis to clarify the overall industry environment, national competitiveness analysis to understand the competitiveness of various markets, and the Business Model Canvas to discuss the cost and profit resources and capabilities of the case companies. It will analyze the differences in business strategies of the case companies in different markets and the impact of policies on their decisions, providing policy recommendations from the perspective of market participants.

The research results indicate that the primary differences in the business models of Siemens and Vestas lie in company size, product lines, and the relationships with developers. Company size further influences their modes of market entry in Taiwan, with Siemens adopting high-risk greenfield investments, while Vestas employs joint ventures. The investment approaches in the Taiwanese market also impact their positioning in the Asia-Pacific market.

This thesis is expected to offer a new research perspective on the offshore wind power industry, providing readers with an analysis of companies' business logic to better understand the current market situation and companies' strategic decisions. Furthermore, it aims to enable the government to consider market participants' perspectives when adjusting future policies, in addition to fostering the national industry.