The UN has published the 2020 edition of the World Economic Situation and Prospects (WESP) report. It draws attention to economic risks in 2020 posed by trade disputes, policy uncertainties, and political polarization. This political and economic climate, combined with rising global temperatures and more weather-related shocks, points to a clear need for “a dramatic shift in the global energy mix.”
Corporate renewable energy power purchase agreements (PPAs) increased 40% last year, compared with 2018, according to research by BloombergNEF (BNEF). BNEF said in its '1H 2020 Corporate Energy Market Outlook' that clean power PPAs totalling 19.5GW were signed by over 100 corporations in 23 different countries in 2019. This was up from 13.6GW in 2018, and more than triple the activity seen in 2017, it added.
Vietnam’s state-owned utility EVN has confirmed that it will maintain the 20-year feed-in tariff for rooftop PV installations not exceeding 100 kW in size at the rate of $0.0935/kWh until 2021. The decision to leave the current tariff unchanged was suggested by the country’s Ministry of Industry and Trade (MOIT), which said it is crucial to maintain high levels of solar energy deployment in the residential and commercial segments.
Almost 627 GW of new wind power capacity is expected to be installed by 2028, according to analysis by Navigant Research. The ‘Global Wind Energy Overview’ report said the new capacity represents a market worth of more than $92bn in 2019 and over $1 trillion during the period. Navigant said wind turbines installations were flat from 2017 to 2018, but “behind the flat figures are profound shifts throughout global wind power markets”.
Laos’ electricity exports to neighboring countries and ASEAN states are expected to increase to about 20,000 megawatt (MW) between 2020 and 2030. Electricity is considered a huge revenue earner for Laos, especially through exports to neighboring countries and ASEAN states such as Thailand, Vietnam, Cambodia, Malaysia, Myanmar and Singapore, local daily Vientiane Times reported on Wednesday, reports Xinhua. Electricity is exported from Laos to ASEAN countries through Thailand by a transmission line.
The Asian Development Bank (ADB) has inked a USD-37.8-million (EUR 34.1m) deal to support the development and construction of a 50-MW solar photovoltaic (PV) park in Vietnam. The financing package for the so-called Guld Solar Power Project includes a USD-11.3-million A loan and an up to USD-18.9-million B loan funded by Bangkok Bank PCL, Siam Commercial Bank PCL and Standard Chartered Bank (Thai) PCL. In addition, it includes a USD-7.6-million loan by the Leading Asia’s Private Infrastructure Fund that is backed by the Japan International Cooperation Agency.
The Philippines' Department of Energy (DOE) has called for comments on a draft programme that brings in new rules for renewable energy auctions and a green energy tariff. The main aims are to enable compliance with the Renewable Portfolio Standard (RPS) that will be enforced this year. The RPS mandates power firms to have a minimum percentage of their power generation coming from renewables, with penalties for non-compliance. President Duterte has been pushing to reduce the country's reliance on coal while simultaneously aiming to double its power supply by 2030 to support its growing economy.
The state-run Electricity Generating Authority of Thailand (Egat) has signed a contract with B.Grimm Power-Energy China Consortium a contract to develop the world’s largest hydro floating solar hybrid power project in Sinrindhorn dam in Ubon Ratchathani, local media reported. The project, which will be developed by the consortium under an engineering, procurement and construction contract, has a power capacity of 45MW for the floating solar farm worth 842 million baht (about 27.74 USD)