Uncertainty of investments caused by a financial downturn and renewable energy are the two biggest concerns of Asia’s electric industry today, according to Black & Veatch’s first-ever Strategic Directions: Electric Industry Asia 2021. The report highlights the five key threats to grid reliability in Asia and these include: Network capacity investment not keeping pace with demand; Underinvestment in more reliable transmission networks; Introduction of too much intermittent renewable energy; insufficient energy storage capacity; Natural disasters. The report is based on data provided by senior energy industry leaders and points to the need to balance affordability and pressure to decarbonize power generation while integrating reliable and resilient systems to cope with natural disasters, extreme weather events and the intermittency of renewable energy.
ASEAN Centre for Energy and World Coal Association strengthen joint commitments to clean coal in signing of memorandum of understanding
The ASEAN Centre for Energy (ACE) and the World Coal Association (WCA) have today signed a 3 year MOU under the new leadership of both organisations, in recognition of the strategic importance of the ASEAN region. The signing builds on previous collaboration between the ACE and the WCA, demonstrating both parties’ ongoing commitment to advocating for economic growth and the enabling role of clean coal technologies in providing access to clean, reliable, and affordable energy for developing countries across the ASEAN region. ACE is an intergovernmental organisation which represents the 10 ASEAN member states’ interests in the sustainable energy sector; the WCA represents responsible global industry players who are committed to shaping a sustainable future for coal.
The decision of Thailand’s Board of Investment (BOI) to approve additional incentives to attract automakers for electric vehicle (EV) production will continue to cement the country’s position as EV production hub, according to an outlook by Fitch Solutions. The new package of incentives includes a full range of vehicle types and incentives for battery module and battery cell production, as well as the extension of critical EV automotive parts as part of the package. With Thailand as the largest and most developed EV market in the South East Asia region, incentives will drive renewed interest from automakers and component manufacturers alike as a large domestic electric vehicle market remains a crucial element in attracting investments in EV production. Fitch Solutions has also highlighted the lack of consumer-focused incentives for the purchase of EVs and an inadequate public charging infrastructure as missing links in further driving the adoption of EVs in the country.
The United States Agency for International Development (USAID) announced an investment of more than $28 million to advance regional energy markets in South Asia. The announcement was made at the third Indo-Pacific Business Forum hosted virtually on Wednesday from Hanoi, Vietnam. USAID acting assistant administrator for Asia Javier Piedra made the announcement of new activities with an investment of $28 million to strengthen energy security and expand access to energy across the Indo-Pacific region. The new investments by USAID and other parts of the US government will help the people of South Asia grapple with the new opportunities and challenges brought on by advanced energy technologies, said a statement of IPBF organizer. The private sector is central to these challenges, which include limited access to private capital, minimal private-sector engagement across the energy supply-chain, and few transparent and open energy markets, it said.
Energy demand is exploding in Southeast Asia. The region’s electricity demand is the fastest growing in the world, and the Association of Southeast Asian Nations (ASEAN) is struggling to keep up. Total demand in these rapidly developing countries has skyrocketed by a whopping 80 percent since 2000, with millions of consumers increasingly securing access to electricity. Energy demand has also been pushed higher by rising temperatures in the region, meaning that the demand is only going to keep growing as the world grows warmer. Growing energy demand has put a lot of stress on the ASEAN countries’ ability to make good on their own climate change promises, as the region is largely powered by emissions-heavy fossil fuels…Natural gas, which is considered to be greener than coal and oil, could figure into Southeast Asia’s plans to curb its carbon emissions.
Renewable energy solutions can be the backbone of urban decarbonization efforts, a new report by the International Renewable Energy Agency (IRENA) and the International Climate Initiative (IKI) on the Rise of renewables in cities: Energy solutions for the urban future finds. Responsible for over 70% of total energy-related CO2 emissions, cities are increasingly relevant in addressing climate change, building a climate-resilient urban infrastructure on renewable energy. Home to 55% of the global population today, cities are also the planet’s economic engines, representing 80% of the global GDP. According to the UN estimates, cities will have to accommodate two-thirds of global population in a livable, low-carbon environment by 2050. Integrating renewables into local energy systems has become part of the transformative action in many cities around the world. Still, their full potential remains untapped.
Singapore is set to ink an agreement with Laos, Thailand and Malaysia at an Asean meeting next month to advance cooperation on cross-border power trading, Second Minister for Trade and Industry Tan See Leng said on Monday. The memorandum of understanding for the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) is expected to be signed at the 38th Asean Ministers on Energy Meeting, which will be hosted by Vietnam mid-November. “Tapping on regional power grids and electricity imports for cleaner energy is another key switch of our low carbon energy future,” Dr Tan said in a speech at the Singapore Energy Summit, which is part of the Singapore International Energy Week (SIEW) 2020. The LTMS-PIP currently involves the sale of electricity from Laos to Malaysia, with Thailand acting as a transit country, according to a September 2019 report by the International Energy Agency (IEA).
South Asia renewable energy market growth analysis 2020, promising opportunities and forecasts report till 2025
The Market Insights Reports has added a new statistical data to its repository titled as, South Asia Renewable Energy Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. South Asia renewable energy market is expected to grow at a CAGR of more than 12.5% in the forecast period of 2020-2025. Geographically, South Asian countries are located in a region of tropical and humid climatic conditions, which provides the region with an opportunity to avail of huge potential for renewable energy resources.