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Updated Tuesday, August 28, 2007 0:00 am TWN, TAIPEI, Bloomberg

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Teco Electric shares climb on wind farm report

Teco Electric & Machinery Co. shares had their best streak in more than five years, after a newspaper said the Taiwan maker of air conditioners and televisions may jointly build wind farms off the island’s coast.

Teco, Taiwan’s second-largest home appliance maker by market value after Tatung Co., rose 3.6 percent to close at NT$18.65 in Taipei yesterday, bringing the increase in the past six sessions to 24 percent, the biggest such gain since February 2002. The benchmark Taiex added 0.3 percent.

The Taipei-based company will likely apply for government approval to tap the island’s offshore wind energy, said Kevin Chen, a spokesman for Teco, confirming a report in yesterday’s Chinese-language Economic Daily News.

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