AsiaElec - Asia Power

Hyundai E&C announces coal exit

South Korea’s Hyundai Engineering and Construction will not take on any new coal power construction projects, although it will finish current projects in Vietnam and elsewhere across Asia.

Fossil fuels continue to dominate Indonesia’s new NDC

Indonesia has submitted revised 2030 climate change targets to the UN, although fossil fuels are still set to dominate, providing 69% of the country’s primary energy supply by 2050.

AsiaElec: Singapore’s Sunseap to invest $2bn in 2,200-MW floating solar and storage project in Indonesia

Singapore’s Sunseap Group is to invest $2bn in developing a 2,200-MW floating solar plus storage project, the largest such solar project to date world-wide, on the Indonesian island of Batam.

EU takes carbon pricing initiative with CBAM

Chevron misses CCS target at Gorgon LNG

Super-major Chevron confirmed this week that it would not meet its carbon dioxide (CO2) injection target at its Gorgon LNG facility, which has a carbon capture and storage (CCS) component.

Net-Zero by 2050 could cost $173 trillion: BNEF

Achieving net-zero carbon emissions by 2050 will require as much as $173 trillion in investments in the energy transition, according to BloombergNEF’s (BNEF) New Energy Outlook 2021 (NEO).

IEA warns that only 2% of post-pandemic spending is green

The International Energy Agency (IEA) has warned that only 2% of post-pandemic spending commitments by governments, totalling $16 trillion, will fund green energy projects.

IOC looks to build India’s first green hydrogen project

State-run Indian Oil Corp. (IOC) intends to build the country’s first green hydrogen plant at its 8mn tonne per year (160,000 barrel per day) Mathura refinery in Uttar Pradesh, chairman Shrikant Madhav Vaidya said this week.