GWEC signs three MOUs with Sustainable Energy Association of Singapore (SEAS), Binh Thuan Wind Energy Association (BWEA) and Thai Wind Energy Association (ThaiWEA) to accelerate the growth of wind energy in South East Asia, with a focus on Vietnam and Thailand Partnerships to strengthen the deployment of wind energy by engaging all relevant stakeholders in a key region for economic growth.
The Global Wind Energy Council (GWEC) has launched a Policy Pulse report on Vietnam, which provides qualitative analysis of the political and macroeconomic headwinds steering the wind power sector and the measures needed to unlock greater wind power potential. Vietnam has one of the fastest-growing energy consumption rates in South East Asia, with a growing population of 96.7 million people and steady economic growth.
Energy demand in ASEAN member states (AMS) has increased twice as fast as in other countries since the 2000s. AMS together are currently the sixth-largest energy consumer and will be the fourth-largest by 2030, with more than 54 percent of the energy need expected to be covered by oil imports by 2035. The current growth rate of conventional energy supply would not only lead to energy security issues but also exacerbate climate change – if renewable sources are not taken into account.
The US Agency for International Development (USAID) on Friday announced a new project promoting urban energy security in Việt Nam at an event held in Ho Chi Minh City. The event was attended by USAID Deputy Administrator Bonnie Glick, USAID/Vietnam Mission Director Michael Greene, leaders of the Ministry of Industry and Trade (MOIT)’s Electricity and Renewable Energy Authority, and HCM City’s Department of Industry and Trade.
There’s just no stopping coal in Southeast Asia. Surging investments in wind and solar energy won’t be enough to shake the fuel’s dominance in the region for decades to come, according to the International Energy Agency. Coal demand is expected to double to almost 400 million tons a year by 2040, the agency said in its Southeast Asia Energy Outlook published Wednesday. That’s 2.5% higher than its forecast from two years ago, even as renewable power capacity is seen more than tripling through 2040.
Energy blockchain applications are expected to generate $19 billion in revenue over the next decade, a 66.9% annual growth from 2018 level. The market is expected to generate $7.7 billion in revenue in 2028 alone. The increase in spending on energy blockchain applications is owing to an increase in the use of the technology in asset financing, proof of origin for power generation, electric vehicle charging and grid integration and transactive energy.
Southeast Asia is accelerating plans to harness energy from the sun in coming years as the cost of generating electricity from some solar power projects has become more affordable than gas-fired plants, officials and analysts said. The region, where power demand is expected to double by 2040, is striving to expand the share of renewable sources as developing nations seek affordable electricity while battling climate change.
A global trade hub and a strong example of the benefits of regional cooperation, Southeast Asia promises to emerge as one the most successful economic development stories of the 21st century. To fulfill its full potential however, the region should turn decisively to renewables to meet rising energy demand. IRENA Director-General Francesco La Camera will reinforce the importance of a low-carbon energy path in Southeast Asia at the Singapore International Energy Week 2019 (SIEW) this week.