Vietnam is preparing to launch a pilot programme that will facilitate the signing of synthetic power purchase agreements (PPAs) between private power buyers and renewable energy producers, targeting contracts for up to 1 GW in 2020-2022. The size of the direct PPA programme, to be available nationwide, is envisaged in the range of 400 MW to 1,000 MW, under a proposal submitted by the Ministry of Industry and Trade of Vietnam (MOIT). The plan is subject to public comments and approval by the Prime Minister.
United Overseas Bank Thai (UOB) today launched U-Solar, Asia’s first solar industry ecosystem, in Thailand to lead the take-up of renewable energy nationwide. Through the U-Solar programme, the bank connects businesses and consumers across the solar industry value chain and helps their transition to a low-carbon economy. The programme is also available in Indonesia, Malaysia and Singapore.
The green debt markets in ASEAN countries including the Philippines are poised to grow, according to the Securities and Exchange Commission (SEC). In a keynote speech at the ASEAN+3 Bond Market Forum Meeting held recently at the Asian Development Bank (ADB) Headquarters in Manila, SEC commissioner Ephyro Luis Amatong said bond issuances under the ASEAN Green and Sustainability Bond Standards have reached more than $3.8 billion last year.
The Energy Policy and Planning Office (EPPO) is continuing with the phased smart-grid plan from 2017-21, aiming to make Thailand the electricity hub of ASEAN and creating new business for energy producers. EPPO spokesman Anirut Thanakornmontri said that the Office is working with three electrical authorities: Electricity Generating Authority of Thailand [EGAT], Provincial Electricity Authority [PEA] and Metropolitan Electricity Authority [MEA] in pioneering the Energy Ministry’s smart-grid project.
Renewable energy is poised for a decade of epic growth. Utility-scale solar and onshore wind continue to smash through most forecasts from previous years. If favorable economics continue to drive investment in the renewable duo, then utility-scale solar and onshore wind could generate 30% of America's total electricity in 2030, with all zero-carbon energy sources providing as much as 60%. While many projections expect solar power to eventually become the nation's and the world's top source of electricity, that milestone is still decades away.
The Asia Wind Energy Association and De Oude Bibliotheek Academy (DOB-Academy) have joined forces to initiate the establishment of a regional Academy for the fast-growing offshore wind industry in Asia-Pacific. The Asia-Pacific Offshore Wind Academy will be established in Singapore and will provide educational services for the regional offshore wind industry. The Asia-Pacific regional Academy will be the first dedicated academy for the offshore wind industry in Asia-Pacific focused on higher level education.
By the end of last year Vietnam had surpassed Malaysia and Thailand to reach the largest installed capacity of solar power in Southeast Asia, with 44% of the total capacity, according to figures from Wood Mackenzie, a firm that sells consulting services in the energy industry. The figures show that Vietnam is serious about solar power, an issue that had been up for debate for years. Solar supporters were encouraged to see the government offer a high feed in tariff (FIT), a fee pioneered in Germany to let solar panel owners sell power to the grid. This helped push Vietnam to reach 5.5 gigawatts of solar capacity last year.
As renewables take over the world’s energy mix, the region will continue to grow its global PV capacity at full speed. Large-scale solar farms have become a more common sight in Asia over the last few years. Technology costs have been decreasing significantly to the point that analysts forecast that by 2050, photovoltaic (PV) systems will cost a measly $0.42 per watt or as much as 43-54% less than today’s price tag. This has sent Asian countries on a construction spree as they aim to hit ambitious renewables targets and meet the growing energy demand in the region.