AsiaElec - Asia Power

AsiaElec: Copenhagen Infrastructure Partners to invest $100mn in Indian renewables

Danish fund managers Copenhagen Infrastructure Partners (CIP) is to invest $100mn in 1.7 GW of green energy projects in India together with its partner Amp Energy India.

Strong public financing pushes renewable investment to new high

New investment in renewable energy reached $174bn in the first half of 2021, 1.8% lower than in the first half of 2020, BloombergNEF (BNEF) said, as investment in renewables withstood the effects of the global pandemic.

ADB to lead efforts from Prudential, Citi, HSBC and BlackRock to speed up coal closures in Asia

The Asian Development Bank has persuaded Prudential, Citi, HSBC and BlackRock to accelerate the closure of coal-fired power plants across Asia in order to rein the generating sector’s emissions.

ADNOC and Fertiglobe sell blue ammonia to Itochu

IRENA points to resilient and sustainable potential of offshore wind

Offshore wind has the potential to accelerate the energy transition and allow G20 countries to build a resilient and sustainable energy system.

Philippines’ San Miguel abandons long list of coal projects

The Philippines’ San Miguel Corporation is to stop building new coal-fired power plants and will instead concentrate on renewables, the country’s Department of Energy said in a statement.

India urged to improve power distribution and speed up coal decommissioning

India’s state-owned distribution companies (discoms) could save up to $1.23bn per year if they focused on efficiency rather than trying to cover costs, a new study found.

Thailand’s EGAT approves 1,400-MW gas power plant, replacing coal TPPs

The Thai government is set to approve plans to build a 1,400-MW gas-fired thermal power plant in Surat Thani, replacing two highly contentious coal-fired power plant projects in the southern region.

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.

India’s Vikram Solar to build 1.3-GW PV module plant

India’s Vikram Solar to build a 1.3-GW per year solar PV module manufacturing plant at the Indospace Industrial Park in Chennai, Tamil Nadu State.

Global investors turn to green energy and away from fossil fuels

The world’s largest global debt and equity investors are continuing to invest in renewable energy despite the pandemic, driven by the wealth of investment opportunities, the Institute for Energy Economics and Financial Analysis (IEEFA) said.

Japan raises 2030 green power targets

Japan is to increase its 2030 target for renewables’ share of power generation to 36-38%, up from the current 22-24%, as it looks for ways to meet its 2030 Paris climate targets.

South Korea faces power cuts as demand rises

South Korea’s power networks are in danger of failing to meet demand during the present hot weather, with the difference between supply margin falling to a low of 10% this week.

Iberdrola moves into Vietnam with acquisition of Sowitec Vietnam

Iberdrola has acquired Asian green developer Sowitec Vietnam in a move that gives it access to a 550-MW renewables pipeline, including a floating solar project and five onshore wind farms.

Wind, solar to account for 7% of electricity in Pakistan

Renewables will soon account for 7% of Pakistan’s power output, with 2,000 MW of green capacity currently operating in the country.

ASIAELEC: Siemens Gamesa clinches 322-MW Indian turbine deal

Siemens Gamesa has won a 322-MW turbine supply deal from India’s ReNew Power for the Tondehal wind farm in the southern state of Karnataka.

REM: Wind CEOs warn G20 to “get serious” about renewable energy

Leading CEOs of the global wind industry are calling on G20 members to show leadership in the climate crisis by raising national ambitions and urgently laying out concrete plans for increased wind energy production to replace fossil fuels.

Early signs are ‘Turkey, Russia, China would dispute EU’s CBAM at WTO’