AsiaElec - Asia Power

Equinor seals 3-GW offshore deal with South Korea’s EWP

Norway's Equinor has signed an agreement with Korean East-West Power (EWP) to co-operate on offshore wind projects in South Korea.

IEA stresses efficiency improvement needed to reach net zero

Rapid improvements in energy efficiency technology are needed to keep global climate pledges within reach, the International Energy Agency said in a recent report.

KEPCO, six subsidiaries announce complete exit from coal by 2050

State-owned Korea Electric Power Corp. (KEPCO) and its six power generation subsidiaries said this week they would pursue a gradual but complete exit from coal by 2050.

Vietnam to give priority to renewables

Vietnam expects solar power to account for 5.9% of power output by 2030 and 8.4% by 2045.

India’s coal consumption set to endure

India’s dramatic intervention at COP26 to change “phase out” to “phase down” for coal cannot hide the country’ continued reliance on coal, with peak coal use in power generation not set to arrive until 2040.

Japan’s Mitsubishi interested in building gas-fuelled power plant at North Macedonia’s REK Bitola

AsiaElec: Southeast Asia & Pacific to benefit from COP26

AsianOil: Petronas signs raft of CCUS agreements

Malaysia’s state-owned Petronas has signed a number of agreements this month with international partners that focus on developing carbon capture, utilisation and storage (CCUS) technology.

Coal emerges down, but not out, from Glasgow

The COP26 conference finished 26 hours late on November 13, with a last-minute intervention by India watering down the final agreement’s commitment on coal.

IGU calls for more support for renewable gases

Chevron to use carbon credits to make up for Gorgon CCS shortfall

Chevron and its partners in the giant Gorgon LNG project in Australia will buy carbon credits likely worth more than $183mn to compensate for failing to meet carbon capture targets.

COP26 sectoral initiatives could close 2030 emissions gap by 9%

An initial assessment by Climate Action Tracker of the impact of the Glasgow sectoral announcements for methane, coal, forests and transport show they would reduce the 2030 emissions gap between current government action and a 1.5C pathway by 9%.

AFrElec: UK funding to support developing cities and regions transition to net zero by 2050

The UK government has announced GBP27.5mn ($37.1mn) of seed funding to support the UK Urban Climate Action Programme in a bid to tackle climate change and reduce emissions in cities in Africa, Asia and Latin America.

Guterres stresses emissions, finance gaps still major barriers to 1.5C

UN Secretary-General António Guterres told the COP26 summit that much work remains to be done to fill the emissions gap and the finance and adaptation gap, despite welcoming the agreements on forests, methane and coal made so far.

China’s coal pledge threatens 43 GW of planned capacity in Asia

Up to two-thirds of the world’s planned coal-fired power plants could be shelved if China follows through on its recent pledge not to build new coal projects abroad.

AsiaElec: Japan’s geothermal energy boost

23 countries make zero-emissions vehicle pledge

November 10 was Transport Day at COP26 in Scotland, and parts of the automotive industry had pledged to end the sale of petrol and diesel cars and vans by 2035 in leading markets and by 2040 across the globe.

First COP26 agreement lacks targets and detail

COP26 has come up with a first draft agreement that calls on governments to improve substantially by the end of 2022 their emissions reduction targets and long-term strategies for reaching net zero.

COP26 still far from comprehensive agreement

The first week of COP26 was dominated by grand statements by governments, and a number of sector-specific targets covering methane, coal and deforestation.

Development banks ADB, EBRD, EDB showcase climate-friendly capital at COP26

The UN’s COP26 climate conference in Glasgow has seen development banks from around the world come together to outline their contributions to a low-carbon future. Robust financial infrastructure is key to a just and efficient transition.

Offshore global wind spending to exceed oil and gas capex in key markets by 2030

Offshore wind is closing the gap on oil and gas investments and is forecast to surpass them in “several key markets” by 2030, according to a new Rystad Energy analysis.

ADB to support Indonesia and Philippines’ move away from coal

The Asian Development Bank (ADB) is to accelerate the clean energy transition away from coal in Indonesia and the Philippines by setting up the Energy Transition Mechanism (ETM).

South Africa, India, Indonesia and the Philippines to receive $2.5bn to phase out coal

South Africa, India, Indonesia and the Philippines are to receive up to $2.5bn of climate financing from the World Bank’s Climate Investment Funds (CIF) in a bid to advance a just transition from coal power to clean energy in emerging economies.

Coal dominates at COP26 as more countries join the clean transition

Poland, Ukraine, Vietnam and a host of other major coal-burning countries made clear commitments to phase out coal power in the coming years, as the UK presidency of COP26 claimed that “the end of coal is in sight”.

UK supports Pakistan with $75mn to combat climate change

The UK announced at COP26 more than GBP55mn ($75mn) of support to help Pakistan tackle climate change, as well as manage water more sustainably and unlock climate investment.