Tag: asia

Renewables growth to bolster need for pumped hydropower storage, developments mainly in Asia

Pumped hydropower storage utilises pumps to drive water to a reservoir at a higher altitude for large-scale long-duration energy storage, and turbines to generate electricity when the stored water is released. Typically, when on-grid electricity demand and prices are low, operators draw electricity from the grid to power pumping systems. Conversely, when demand is high, operators release water to generate electricity either to sell back to the grid or to power their own needs.

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The Rise of Climate Fintech

The climate crisis is a defining challenge for Asia and the Pacific, which as a region is the most vulnerable to global warming, and a significant contributor to its cause. Yet, it is not all doom and gloom. Driven by a combination of climate change, finance, and digital technology —collectively known as ‘climate fintech’ — the financial services industry is preparing to address these challenges and capture opportunities for transitioning to a more sustainable economy. 

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TotalEnergies and Eneos to build 2 GW of solar capacity in Asia

TotalEnergies and Eneos, two French energy companies, have gained approval to form a joint venture (JV) to develop 2 GW of business-to-business (B2B) solar projects in Asia over the next five years. The  TotalEnergies ENEOS Renewables Distributed Generation Asia Joint Venture was first launched in April 2022. 

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More is More: Potential boost to Asian renewable energy from the Indo-Pacific Economic Framework

If the Indo-Pacific Economic Framework (IPEF) becomes a binding agreement that delivers on its ambitions, many Asia Pacific economies could receive a boost to their clean energy needs. The US-led IPEF can complement the China-led Regional Comprehensive Economic Partnership (RCEP). Together, they would cover countries which need a combined annual spend of about USD1.27T to hit the 1.5°C climate goal.

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Lighting up South Asian economies and building an integrated regional power market

The South Asian countries have been engaged in cross-border electricity trade (CBET) for over a decade now through bilateral transactions. The South Asian region presents a great opportun­ity to link economies through an integrated regional power market, which re­quires strengthening transmission co­n­nectivity and access, thereby facilitating energy security and helping achieving greater economic prosperity.

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Afghanistan’s Power Sector Update: Outlook remains uncertain

The total power generation capacity in Afghanistan stood at 641 MW in 2020 as per the latest available statistics from the International Renewable Energy Agency (IRENA). About 52 per cent of the capacity (333 MW) was accounted for by hydro, 43 per cent (277 MW) by thermal and the remaining 5 per cent (31 MW) by solar. Generation capacity addition has been paltry over the years with the installed capacity recording a compound annual growth rate (CAGR) of 2.8 per cent between 2006 and 2020.

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Renewable energy as a catalyst for investment and growth in Vietnam

Several high-profile investors have entered Vietnam’s C&I market. The French utility group EDF and its local partner, investment fund VinaCapital, have committed USD100 million over the next three years for a pipeline of 200 MWp of C&I rooftop solar power systems. South Korean conglomerate SK Group has pledged USD200 million and a 250 MWp installation target in the next few years, with local partner Nami Energy.

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Carbon Capture in the Southeast Asian Market

In recent years, Carbon Capture Utilization and Storage (CCUS) discussions have gained traction in Southeast Asia (SEA). With the technology-intensive nature of CCUS, several countries could provide reference points for the CCUS potential in Asia: China, Japan, and South Korea. All three countries have a long history of technology leadership and energy investments in the region. Their experiences with CCUS can provide a glimpse into the future path of CCUS in SEA.

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ACEN and ib vogt partner to develop solar power projects across Asia 

ACEN, a power company based in the Philippines, and ib vogt, a German engineering firm, have agreed to enter into a joint venture (JV) to fund the construction and operation of nearly 1 GW of solar power facilities across the Asia-Pacific region. The proposed JV will operate in Bangladesh, Malaysia, Indonesia, Vietnam, Malaysia, and other countries in the region to develop shovel-ready and late-stage projects.

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Asia’s Hydropower Sector Faces Headwinds To Growth

Hydropower projects in Asia face significant headwinds arising from environmental and social opposition, alongside financing hurdles. Hydropower projects have consistently been facing opposition stemming from environmentalists and local communities, as damming of rivers has implications for the ecology and livelihood of people around the rivers. In addition to environmental and social opposition, financing of hydropower projects remains limited, given the high capital required and long construction times before electricity is generated and sold.

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Global Renewables Report: Key Takeaways

We expect to see over 1,800 GW of new non-hydropower renewable capacity come online over the coming decade, a significant increase against our previous 10 year forecast of 1,400 GW. Growth is supported by global decarbonisation efforts and declining costs with Asia the leading region accounting for 57% of additions. Solar capacity growth will eclipse all other renewables combined with over 1000GW of additions expected with rooftop solar making a global resurgence.  

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As the AIIB reviews its energy strategy, will it finally go fossil free?

At the Asian Infrastructure Investment Bank’s (AIIB’s) annual meeting last October, President Jin Liqun made a bold statement: the AIIB would align its operations with the goals of the Paris Agreement by 1 July 2023. This commitment followed one the bank made earlier in the year for 50% of its yearly approved financing to be for climate finance by 2025. The AIIB also launched itself as a “green” multilateral development bank (MDB) in early 2016, though has not defined what this means.

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Turkey should cover its large hydro reservoirs with floating solar: Ember

Renewable power production in 2021 was twice as much as it was ten years ago; however, the 57 TWh increase in renewables between 2011-2021 met barely half of the surge in power demand (+95 TWh). Turkey needs to at least double its renewable deployment rate and curb its thirst for power consumption in order to decarbonize its electricity sector and lower its import bills. Otherwise, an upward trend in demand together with hydropower volatility may even pose an energy security risk.

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2022 Asia Electric Report

Backed by surveys of the electric industry and large electric users in Asia, the Black & Veatch 2022 Asia Electric Report reveals the single biggest challenge the industry is facing: integrating renewable energy to maintain a resilient and reliable grid. The report also highlights the growing role of new stakeholder influences on the industry, what technologies will receive more investment, and, for the first time, brings in the perspective of large intensive energy customers in Asia.

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Race to Green in East Asian Companies

This report tracks renewable energy commitments and follow-through by 30 of East Asia’s leading technology companies. Companies were selected from the 2019 Forbes Top 100 Digital Companies list, with consideration to domestic market value and social impact. Ranking criteria and evaluation methodology were developed by Greenpeace East Asia.

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How Can Asia Achieve a Clean Energy Transition? Examples from 5 Countries

Nowhere in the world is as critical for the clean energy transition as Asia, which accounts for almost half of global energy demand and is today the world’s highest emitting region, overtaking historical heavy emitters in North America and Europe. Now it’s important that mammoth economies and smaller countries alike continue to ramp up renewable energy to meet targets, cut emissions and keep communities healthy. So how can Asian countries achieve a successful clean energy transition?

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Energy Policy 2021: Supporting low-carbon transition in Asia and the Pacific

To align its energy operations with Strategy 2030, ADB reviewed its 2009 policy, recognising the changing contexts and increasing needs of ADB’s developing members while mindful of the impacts of increasing energy use on the climate and environment. Recently, in October 2021, ADB approved a new Energy Policy that aims to support universal access to reliable and affordable energy services while promoting the low-carbon transition in Asia and the Pacific.

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Increase Of Renewable Energy Certificates Supports Asia’s Strong Renewables Pipeline

Asian markets have been turning to RECs to verify decarbonisation efforts and attract investor interest for renewable projects. With RECs only being available when renewable electricity is generated, the increasing demand for it in Asia is indicative of the region’s strong appetite for hydropower and non-hydropower renewables. The RECs process is an effective instrument that companies will adopt to prove decarbonisation of their electricity sources and support capacity growth.

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Reforming Korea’s Electricity Market for Net Zero

This report was commissioned by Korea’s Ministry of Trade, Industry and Energy and carried out jointly by the International Energy Agency (IEA) and the Korea Energy Economics Institute. The objective of the study was to analyse market design improvements to enable achieving net zero in Korea’s power sector, in accordance with the country’s long-term decarbonisation objectives.

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Ascertaining the effect of COP26 on Asian equities

Despite being responsible for over half of all global emissions, Asia has the chance to lead the global energy transition thanks to the position it occupies at the heart of global supply chains. As both domestic and global demand for new clean technology grows – everything from EVs to renewables and green hydrogen – so too can the region’s corporates by positioning themselves now to meet that demand in the future.

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