Southeast Asia is well on the way to achieving universal access to electricity by 2030. Millions of new consumers have gained access to electricity since 2000, yet some 45 million people in the region are still without it today and many more continue to rely on solid biomass as a cooking fuel. Demand for electricity in ASEAN has an average growth rate of six percent annually. It is among the fastest in the world, while renewable energy only meets 15 percent of its demand. The energy market in Southeast Asia is growing rapidly. Overall demand has increased by 80 percent since 2000 according to the International Energy Association (IEA).
As many as 24,300 rooftop solar power projects with a total capacity of 465.8 MWp have been installed and put into operation by early March, according to the Electricity of Vietnam (EVN). The group said its National Load Dispatch Centre (NLDC) mobilized 1.8 kWh of electricity from renewable energy projects in the first two months of 2020, accounting for nearly 5 percent of the total power production. Experts said with Vietnam’s big potential to develop rooftop solar systems, the number of rooftop solar projects in Vietnam is likely to be 5 times higher than the current figure.
Despite lower returns than offshore oil and gas, offshore wind will become an increasingly attractive investment destination in the energy transition. Global investments in offshore wind are expected to total US$211 billion between 2020 and 2025, and the offshore wind market will become more attractive to oil and gas companies, Wood Mackenzie said in a new report this month. Over the next five years, growing investments in offshore wind are set to narrow the gap with offshore oil and gas investments as capital expenditure in offshore upstream is set to stabilize until 2022 and then drop through 2025.
Abu Dhabi-headquartered International Renewable Energy Agency (IRENA) – an intergovenment effort launched during the UN Climate Action Summit in September 2019 – has entered its operational phase calling for renewable energy project developers to register suitable projects via a purpose-built portal organised around 14 regional clusters. The initiative was developed in response to the need to mobilise low-carbon, climate-resilient investments.
Indonesia should enact clean energy auctions, not feed-in tariffs (FiTs), to meet its renewable energy goals, according to the Institute for Energy Economics and Financial Analysis (IEEFA). In a new report out last Friday, the think tank hailed the country's recent announcement that it will replace 13GW+ of aging fossil fuel plants with clean energy as a matter of “national priority”, to drive progress towards a 23%-by-2025 renewables target.
The Lao Ministry of Energy and Mines is implementing new measures and standards for dam safety in a bid to boost electricity sales to Laos’ foreign trading partners. The energy market is key for Laos as the country exports power to neighbouring nations and ASEAN (The Association of Southeast Asian Nations) countries such as Thailand, Vietnam, Cambodia, Malaysia, Myanmar and Singapore. National consumption for the country in 2019 was 1222MW, but this demand is expected to increase by a further 1,800MW by 2025.
A white paper from the International Energy Agency details how hydropower can help ease the global addition of wind and solar to the resource mix on power grids. Argonne's Audun Botterud offered his expertise as a co-author. As the world adds fields of wind turbines and solar panels to generate more clean energy, electric grid operators are looking for ways to smooth out the variability that comes with renewables. Amid this quest for increased flexibility, the International Energy Agency (IEA) has issued a reminder, of sorts: Don't forget hydropower.
Total investment in offshore wind power projects in Asia Pacific (APAC) came in at almost double that in Europe in 2019, as the fast-moving emerging market eclipsed the sector’s historic heartland for the first time, according to new research from the Renewables Consulting Group (RCG). Led by Taiwan, Japan, and Vietnam, the capital spend in APAC surpassed $10bn, while in Europe just over $5.5bn was invested – a differential largely explained by the “maturity of the [latter] market and intense competition” which have driven down the levellised cost of energy per megawatt by over 50% in recent years, said the UK analysts.