USAID Clean Power Asia
Harnessing the power of renewable energy for a sustainable ASEAN
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The rapid evolution in renewable energy has been prompted by legislators and the dawning realisation that we can and must do less damage to our precious planet. There is still a very long way to go and we are still at the beginning, so for investors there are plenty of opportunities to participate in and support this emerging, but enduring, transformation. The early entrant renewable energy companies are already very substantial. They have relatively simple business models and throughout this troubled year they have remained largely unaffected by the market turmoil brought on by the ravages of Covid-19.
Should eco-conscious investors support a company that’s developing innovative solutions to climate change—even if that company is also a major polluter? The market’s answer to this question has been a resounding “no,” as evidenced by the investment policies that exclude traditional oil producers from most so-called sustainable funds. But this stance eliminates some of the most prolific and influential producers of green innovation, including Exxon Mobil, BP, and Chevron, according to recent research by Harvard Business School Professor Lauren Cohen.
Demand for offshore wind staff will triple by the end of the decade, surging to 868,000 full-time jobs from an estimated 297,000 in 2020, according to analysis by Rystad Energy. The researchers said the hiring spree will already be visible in the middle of the decade, as job demand could reach about 589,000 in 2025...It said the prolific growth will require a lot of skilled employees. Rystad calculated the staffing needs in the number of full-time equivalent workers – one year of full-time employment for one person regardless of actual hours – and included only direct and indirect jobs driven by offshore wind capacity deployment globally.
The Asian Development Bank (ADB) has issued funding to be used to increase renewable energy and EV charging infrastructure in Thailand. A $47.62 million green loan issued to the largest renewable energy company on the Stock Exchange of Thailand, Energy Absolute Public Company Limited, will be used to finance ongoing renewable energy projects and a countrywide EV (electric vehicle) charging network. Energy Absolute Public Company Limited will use the loan to finance the Nakornsawan Solar and Hanuman Wind power plants and deploy fast and standard chargers at charging stations.