USAID Clean Power Asia
Harnessing the power of renewable energy for a sustainable ASEAN
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A renewable-energy fund will invest more than $2.5 billion in Southeast Asian renewable energy projects to support the region’s recovery from the pandemic, with a focus on the Philippines, Vietnam and Indonesia. In a statement issued Monday, the South East Asia Clean Energy Facility (SEACEF) said it will offer high-risk venture capital-type funding initiative to “fill the gap” in financing early-stage clean energy projects in the region. “Many potentially viable projects in Vietnam, Indonesia, the Philippines and other parts of Southeast Asia would not happen without such early-stage funding, as most private sector investors are unwilling to get involved until early-stage development risks are successfully mitigated,” SEACEF said.
Offshore wind is a rapidly maturing renewable energy technology that is playing an increasingly important role in energy systems. Two years ago, offshore wind provided just a fraction of the global electricity supply, but it is now looking to expand in the coming decades into a one trillion dollar business. Countries worldwide are looking to increase their use of renewable energy and weather will play a major role in every phase of the project lifecycle — from turbine installation, routine maintenance and decommissioning sites. On top of that, changes in weather patterns bring new challenges to offshore wind farms.
Vietnam has given the green light to almost a hundred new wind power plants, indicating the nation keeps powering ahead with renewables amid fears of looming power shortages as its industry and population boom. The Vietnamese government on Thursday (25 June) formally approved 7 gigawatts (GW) worth of new wind projects to be built in the country, putting it on track for a total wind power generation capacity of nearly 12 GW by 2025, according to a source close to the government. The go-ahead was given in a letter addressed to the nation’s Ministry Industry and Trade (MOIT) and encompasses a total of 91 onshore and offshore wind projects, with most installations to be sited in the central and southern regions of the country, said the source.
For the past two decades, hydrogen has rarely been mentioned by proponents of renewable energy although it is frequently used in the ammonia production, petrochemical and oil refining industries. However, recently the adoption of hydrogen usage has been accelerating in all sectors as it is versatile and can be produced from many energy sources. Hydrogen fuels thus present an untapped potential as a clean form of energy if the world embraces its adoption and usage. Currently, the annual production of hydrogen is about 120 million tonnes globally, of which two-thirds is pure hydrogen and one-third is mixed with other gases. Hydrogen is a clean energy source which can be produced from either fossil fuels or renewables.