9 October 2017 2017 03:38 PM GMT

ASEAN Eyes Clean Energy To Fuel Economic Growth And Build Climate Resilience

Governments of the Association of Southeast Asian Nations (ASEAN) and the International Renewable Energy Agency (IRENA), have established a strategic partnership to accelerate the region’s transition to low-carbon, sustainable energy and build its climate resilience.

In a joint statement released from the ASEAN Ministers on Energy Meeting and IRENA Dialogue by IRENA and ASEAN Member States including, Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, the Energy Ministers of ASEAN and the Director-General of IRENA agreed to develop a Memorandum of Understanding on long-term co-operation between ASEAN and IRENA to harness the region’s vast renewable energy potential and support ASEAN scale up the energy transition process.

“Increasing investment in renewable energy across Southeast Asia’s growing populations will have significant social and economic benefits across the region, liberating them from expensive fossil fuel imports, while boosting economic growth, supporting energy security, job creation and national resilience,” said IRENA Director-General Adnan Z. Amin, who co-chaired the Dialogue.

“Southeast Asia is key for the global energy transition and we are fortunate to have an effective regional partner in ASEAN. We fully support its efforts to achieve its aspirational target of 23 percent of primary energy from renewable sources by 2025, and stand ready to co-develop longer-term plans in pursuit of a sustainable energy future,” Mr Amin added.

IRENA has worked closely with the ASEAN Centre for Energy (ACE) and ASEAN to find ways to accelerate renewable energy deployment across the region. An IRENA and ACE renewable energy roadmap report released late last year shows that ASEAN’s renewables target is attainable, and found that renewable energy in the region can bring lower overall costs, contribute to cleaner cities, support a more secure and robust energy supply.

The report also found that around half of the region’s renewable energy potential lies in power generation, especially in solar PV that could grow from two to almost 60 gigawatts. Furthermore, the region’s vast biomass endowment can progress end-use sectors, such as transport, buildings and industry and bring savings of up to USD 40 billion by 2025 from reduced fossil fuels expenditure, and up to USD 10 billion per year from reduced externalities caused by climate change and air pollution.

As part of the joint statement, Ministers recognised IRENA as the global intergovernmental organisation mandated to promote the widespread and increased adoption of renewable energy, and thanked the Agency for its strong collaboration in the past in promoting and disseminating policies and measures on renewable energy in ASEAN. On the sidelines of the meeting, the Secretary of Energy of the Philippines and the Director-General of IRENA launched Accelerating renewable mini-grid deployment: A study on the Philippines, which makes a number of key recommendations to accelerate the development of renewable mini-grids in the Philippines.

IRENA is mandated to be the global hub for renewable energy cooperation and information exchange by 152 Members (151 States and the European Union). 28 additional countries are in the accession process and actively engaged. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.

January 28th 2018
European Parliament Gives A Resounding Vote In Favour Of Clean Energy In Europe

European lawmakers have called for a renewable energy target of 35% for 2030 – rather than the 27% which the European Commission proposed in 2016. The MEPs have now backed measures substantially raising the European Union’s clean-energy ambitions. By 2030, more than one-third of energy consumed in the EU should be from renewable sources such as wind and solar power. The measures are intended to help cut carbon dioxide emissions. The EU is the world’s third-largest emitter of greenhouse gases after China and the United States, releasing about 10% of global emissions. 

January 28th 2018
EV, Renewables See CO2 Emissions Plateau By 2030, But Far From 2 Degree Pathway

Major shifts in the global energy landscape, particularly related to electric vehicles (EVs) and renewable energy sources, mean that MEI expects global CO₂emissions to plateau by 2030. However, increased global energy demand means emissions will remain at more than double the level required for a 2 degrees Celsius warming pathway. Ole Rolser, Associate Partner and Solution Leader at MEI, comments: “Despite the significant momentum around EVs and renewable energy sources taking an increasing share of the power market, to realise the 2 degrees pathway scenario, we’d have to see much broader, much more disruptive change than what we’re seeing now.”

January 28th 2018
Chinese Solar Surge Fuels Overall Global Growth In Clean Energy Investment

World clean energy investment totalled $333.5 billion last year, up 3% from 2016 and the second highest annual figure ever, taking cumulative investment since 2010 to $2.5 trillion. An extraordinary boom in photovoltaic installations made 2017 a record year for China’s investment in clean energy. This outpaced changes elsewhere, including jumps in investment in Australia and Mexico, and declines in Japan, the U.K. and Germany. The figures up 3% from a revised $324.6 billion in 2016, and only 7% short of the record figure of $360.3 billion, in 2015.

January 8th 2018
Vestas Sets 10.6 GW Record In 2017 After Year-End Surge; Ups Cashflow Guidance

Vestas has received a firm and unconditional order for 190 MW of 4 MW platform turbines in the U.S. taking the global order intake for the company in 2017 to 10.6 GW, surpassing 2016’s record order intake of 10.5 GW. The surge of orders at the end of the year has resulted in the company revising its guidance for free cashflow upwards. It now expects the free cashflow for 2017 to be €1.15bn-€1.25bn, as compared with the previous guidance of €450m-€900m. Markets have reacted favourably with the company share price experiencing an increase of 5%. 


 

   

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