Private power producers in Bangladesh have sought $1 billion of foreign currency from the country’s central bank to import heavy fuel oil to avert a looming energy crisis this summer.
The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. However, China was insulated from the trend.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea.
The Philippines has approved a plan to build a small-scale liquefied natural gas (LNG) terminal, adding to six ongoing projects that are expected to boost domestic supply from imports as the Southeast Asian nation’s sole gas field dries up in three years.
Thailand’s state-backed energy company PTT Exploration & Production (PTTEP) has decided to delay the development of its integrated gas-to-power project, that would use resources from the M3 Block, to generate electricity in Myanmar, according to a report in the Bangkok Post.
An ambitious plan to power Singapore using Australian solar won another lifeline on Wednesday after a court in Sydney agreed to a sales process put forward by the project’s administrators.
Bangladesh is set to increase its coal-based power generation capacity to ensure supply security at a time when many other countries are focussing on cutting dependency on thermal coal power to achieve climate goals.
South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets.
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
One of Australia’s most ambitious renewable energy projects has entered into voluntary administration after shareholders couldn’t come to a consensus on the future direction and funding of the plan to power Singapore using a 4,200-kilometer (2,600-mile) submarine cable.
Japan's first large offshore wind project started commercial operations on Thursday as part of the country's efforts to boost wind power generation at sea.
The Bank of Japan’s latest policy shock will provide some relief to the nation’s energy crisis, helping to cut the cost to procure fuel from overseas.
Multi-billion-dollar oil and gas projects remain delayed in Vietnam and undermine the Southeast Asian nation’s ambitions to expand its gas production capabilities as it seeks to move away from coal-fired power.
Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal.
BP ventures has made a A$20 million (US$13.6 million) investment in 5B Holdings, an Australia-based renewable energy company, which BP said has technology to enable the rapid deployment of solar power at scale.
Australia’s Labor government is planning to seize control of domestic gas prices when it introduces extraordinary new legislation to parliament on Thursday in what has been likened to a near nationalisation of gas markets.
A nuclear power plant on the Philippines’ western coast has sat idle for nearly four decades, costing billions of dollars and never producing a watt of electricity. Now, it’s at the center of a debate over whether the nation should finally adopt atomic energy.
Australia will impose a cap on domestic energy prices and provide as much as A$1.5 billion ($1 billion) in energy bill relief to ease cost of living pressures caused by soaring global commodity prices.
Indonesia, home to the world’s largest geothermal energy potential, is opening tenders seeking investors to develop this giant resource, as it aims to expand the use of renewable energy to meet its net zero goals.
China and Saudi Arabia signed a number of agreements, including on energy and investments, after their leaders met in Riyadh on Thursday at a summit that showcased deep and growing ties beyond oil.
Natural gas is seen as an essential component of Indonesia’s energy transition with the government targeting to significantly boost upstream investment. Officials estimate $179 billion is needed to meet 2030 oil and gas production targets in Southeast Asia’s largest economy.
Shell (LON:SHEL) is partnering with local renewable energy company Alternergy Holdings to jointly explore the frontier offshore wind market potential in the Philippines.
Inpex has taken a final investment decision for Japan’s first demonstration project that will produce clean hydrogen and ammonia in association with carbon capture utilisation and storage (CCUS).
The government of India has kicked off plans for offshore wind by releasing a consultation paper to call for bids to lease 870 square kilometres of seabed area in the power hungry South Asian nation.