In the midst of a pandemic that’s shaken energy markets to the core and threatens to send the global economy into a depression, renewable energy is holding steady. In the apt words of the world’s premiere advisory body and data source for energy, renewables remain ‘resilient.’ The International Energy Agency (IEA), in its Global Energy Review 2020, provides a snapshot of energy demand for all major fuels this year, as well as CO2 emissions. The flagship report, released late last month, follows the ‘Global Energy and CO2 Status Reports’ of 2017 and 2018...The IEA asserts that renewable energy projects will be more solid financially than others post-crisis.
The Asian Development Bank (ADB) has signed a loan deal for its first wind energy-plus-battery storage project in Thailand, which is also the country’s first private sector initiative to combine the two technologies at scale. The ADB told Energy-Storage.news this morning that it will lend THB235.55 million (US$7.2 million) for the construction of the Southern Thailand Wind Power and Battery Energy Storage Project, has added an “integrated” 1.88MWh battery energy storage system (BESS) to an existing 10MW wind turbine power plant. The addition of the BESS is being considered a pilot scheme that could go on to be replicated and scaled-up elsewhere in Southeast Asia.
The Ministry of Industry and Trade (MoIT) has said that transferring all or part of a solar power project was normal according to market rules and the Investment Law. The MoIT was responding after concerns were raised that many solar power projects initially assigned to Vietnamese investors were being transferred to foreign investors. Hoàng Tiến Dũng, director of the MoIT’s Electricity and Renewable Energy Authority, said: “The existing regulations allow the transfer of projects to eligible foreign investors. Transferring projects and changing shareholders need the approval of the Ministry of Planning and Investment or the Department of Planning and Investment depending on project scale."
As the coronavirus COVID-19 gains ground in the world’s poorest regions, it will hit the most vulnerable the hardest by adding an unprecedented health and economic crisis to existing poverty and climate crises. This multifaceted crisis will keep adding pressure to fragile communities. It calls for a comprehensive and collaborative response. And at the root of it is clean energy; essential to help countries prepare, respond, and recover from COVID-19 crisis. Clean energy can provide affordable solutions that are in line with climate targets and can help mitigate the effects of the COVID-19 crisis on people’s livelihoods and local economies.
The COVID-19 pandemic has changed the world. It is a truly global threat, ignoring national borders and domestic politics…Despite the current global economic shutdown, the global energy transition is well underway. This transition is being driven by renewable energy technology that disrupts incumbent industry business models, much like the rise of the mobile phone and the internet. The technology disruption is fundamentally reshaping the global energy landscape. A key impetus is the dramatic, ongoing deflation in the cost of solar energy and battery storage.
The ongoing Covid-19 crisis is disrupting everyday life and causing major economic uncertainty. Globally, countries are implementing measures to restrict the transmission of Covid-19. The effect of such measures is having significant implications on various sectors, including renewables… Although there is strong government support for deploying renewables, the private sector plays a crucial role in financing technology development across the value chain.
Researchers at the University of Southampton have mapped the global locations of major renewable energy sites, which they say will provide a valuable resource to help assess their potential environmental impact. Their study, published in the Nature journal Scientific Data, shows where solar and wind farms are based around the world – and reveals both their infrastructure density in different regions and approximate power output. It is the first-ever global, open-access dataset of wind and solar power generating sites.
With offshore wind farms making inroads in Japan and attracting huge investments from overseas sponsors, promoters and lenders in Taiwan, another asset class – floating solar energy – is gaining ground as a number of Asian countries add renewables to their energy mix…Floating solar project is an emerging asset class in the region, and there will be more similar projects going forward as it offers advantages over ground-mounted solar farm power plants.