The Asia and the Pacific region’s economic transformation and energy transition is fundamental to the success of global decarbonisation goals. That’s according to a new REN21 report, which suggests the deployment of renewables in the area continues to lag behind that of traditional energy sources – this is significant, as the region contributes 52% of the world population and accounts for most of the world’s population growth.
Even in Southeast Asia, coal is losing its lustre—only Indonesia has been building new plants in 2019
Southeast Asia is the only region in the world where coal has a growing share in the energy mix. But according to new data from San Francisco-based non-governmental organisation Global Energy Monitor (GEM) the signs are that the coal industry is on the wane, even here. In the first six months of this year, only Indonesia, the world’s fifth biggest producer of the fossil fuel, started to build new coal-fired power plants.
Global renewable energy capacity is set to rise by 50 per cent in five years' time, driven by solar photovoltaic (PV) installations on homes, buildings and industry, according to the International Energy Agency (IEA). Total renewable-based power capacity will rise by 1.2 terawatts (TW) by 2024 from 2.5 TW last year, equivalent to the total installed current power capacity of the United States.
Asia could grow its share of installed capacity for onshore wind from 230 Gigawatt (GW) in 2018 to over 2600 GW by 2050, a new report by the International Renewable Energy Agency (IRENA) finds. By that time, the region would become a global leader in wind, accounting for more than 50 per cent of all onshore and over 60 per cent of all offshore wind capacity installed globally. According to the “Future of Wind” published at China Wind Power in Beijing today, global wind power could rise ten-fold reaching over 6000 GW by 2050.
The tenth International Forum on Energy for Sustainable Development discussed opportunities to support progress on SDG 7 (affordable and clean energy) and SDG 13 (climate action) across the Asia-Pacific region. Participants shared their experiences with SDG 7 implementation, and considered opportunities and barriers to achieving an energy transition in the region...The Forum took place as part of Asia-Pacific Energy Week, a series of high-level events on sustainable energy, including the Second Session of the ESCAP Committee on Energy.
Thailand is moving to establish itself as a regional energy trading centre through the creation of a South-east Asian super grid. In early September Thailand, Laos and Malaysia agreed to extend the Laos-Thailand-Malaysia Power Integration Project (LTM-PIP), pushing Thailand closer to its goal of becoming a regional power hub...This trilateral pact will see the project enter its second phase early next year. Under the revised deal, Laos will increase the amount of energy sold to Malaysia via Thailand from 100MW to 300MW.
B.Grimm Power Plc (BGRIM)'s Phu Yen TTP Joint Stock Company was awarded the 2019 best solar power plant project developer from the International Finance magazine. The award by the leading international business journal recognises the company's initiation of operation with expertise and advancement which plays an important role in economic and social development. BGRIM is the only private company from Thailand that has been awarded for its solar photovoltaic power facility that is located in Vietnam this year.
The Asian Development Bank (ADB) has announced that it will invest $98.7m (THB 3bn) in the first-ever green bond issuance for Thai company Energy Absolute. In total the bond will have an issuance value of almost $330m (THB10bn). Energy Absolute states that the money will be used to finance the 260MW Hanuman windfarm in the Chaiyaphum province of Thailand, which will offset the country’s annual carbon emissions by 200,000t per year.