The Vietnamese government has set new feed-in tariff (FIT) rates for utility-scale, rooftop and floating solar installations. The new purchase price for electricity generated by ground-mounted PV plants is $0.0709/kWh over a period of 20 years, and $0.0838/kWh for rooftop PV arrays. The government will also offer a FIT rate of $0.0769/kWh for floating solar projects, according to Decision 13/2020/QD-TTg, which was issued by Vietnamese Prime Minister Nguyen Xuan Phuc on Monday. PV developers will only qualify for the new rates if they put their projects into commercial operation by Dec. 31, 2020.
MIGA, a member of the World Bank Group, has issued guarantees that will support the refinancing of existing power transmission infrastructure in Cambodia’s capital, Phnom Penh, and its surroundings. The move paves the way for commercial funding to replace financing previously offered by the Export-Import Bank of Malaysia Berhad (Malaysia EXIM). The project, implemented and operated by Cambodian Transmission Limited (CTL), consists of a 230kV transmission network that connects the Phnom Penh region with power generators in the east and northeast of the country.
Regional aspirations for a swift transition from fossil fuel to renewable energy are likely to be dashed by the economic and market crises triggered by the global COVID-19 outbreak, experts say. Southeast Asian nations already struggling to meet climate change targets will find those goals further from reach, with the unprecedented health emergency becoming the principal priority and a major economic burden. Nuclear energy exploration - being considered by several nations in recent times, including Indonesia and the Philippines - is now also expected to be shelved indefinitely.
The renewable energy sector added 176 gigawatts (GW) of generating capacity globally in 2019, marginally lower than the (revised) 179 GW added in 2018. However, new renewable power accounted for 72 per cent of all power expansion last year, according to new data released by the International Renewable Energy Agency (IRENA). IRENA’s annual Renewable Capacity Statistics 2020 shows that renewables expanded by 7.6 per cent last year with Asia dominating growth and accounting for 54 per cent of total additions.
The Philippines has taken first steps into the offshore wind power sector with plans to develop 1.2 GW, according to an international consortium that said it’s been given the go-ahead to advance wind farm projects there. Triconti ECC, an alliance between Swiss, German and local players, claimed the Philippines department of energy gave it “exclusive rights to studying and developing” two wind turbines projects, Aparri Bay in the north of the country and Guimaras Strait in central Philippines...The joint venture is already advancing 500 MW of onshore wind power projects and plans to bring the first wind farm online by 2022.
While solar development has boomed under Feed-in Tariff (FiT) support in Vietnam, there now needs to be equal investment into mature asset management processes and technologies in order to retain investor confidence in the emerging markets. This is according to Alectris, the global operations and maintenance (O&M) provider for the solar industry and developer of industry-leading renewable energy ERP software, ACTIS. Vietnam has recently become a hotspot for solar projects in Asia, with 2019 seeing an unprecedented boom of 4.5GW added to the grid, driven by favorable FiT rates.
The Indonesian government has announced plans to install rooftop solar panels on at least 800 public buildings across the country this year, according to news sources. This is a positive step in its efforts to reduce Indonesia’s reliance on fossil fuels. Sources suggest that in order to achieve this target, the Ministry of Energy and Mineral Resources (MEMR) has allocated just under USD 13 million to install panels on boarding schools, clinics, orphanages, government offices and police stations in some 17 provinces. More could be done with the support of private investment and there are (or should be) more opportunities to innovate and integrate renewables into smarter infrastructure assets
Wind power capacity is expected to grow on average by 77GW a year from 2020 to 2029, representing a growth of 112%, according to new data from Wood Mackenzie, The ‘Global Wind Power Market Outlook Update: Q1 2020’, found 62GW of wind capacity was added globally in 2019, a 23% increase from 2018 and the second-highest annual total after 2015, when the figure was 63GW. Wood Mackenzie research director Luke Lewandowski said: “A policy-induced build frenzy in China and the US largely drove an 11.5GW uptick in 2019 global net capacity additions when compared with 2018.