It’s a couple of months since I suggested the energy crisis would be as big as Covid and thereby demand the same scale of response. It wasn’t a very fashionable thought but perceptions have moved rapidly – everywhere, except where it matters most, in government.
Philippine billionaire Enrique Razon made his fortune operating ports and running casinos. His next target is the country’s nascent renewables industry.
To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.
Solar Energy Future Japan 2022 Japan's Flagship RE Conference Shaping the Future Path of Solar Energy
Japan's biggest power generator JERA said on Tuesday it will spend about 15 billion yen ($112 million) to buy a 35.1% share in Vietnamese renewable energy company Gia Lai Electricity JSC (GEC) to expand its overseas business.
Lightsource bp, a 50:50 joint venture between Lightsource and oil and gas major bp (LON:BP), is set to become the largest solar developer and owner in Australia, as it aims to reach financial close on its Wellington North and Wunghnu Solar Farms later this year.
Shell (LON:SHEL) has signed a collaboration agreement with Nickel Asia's renewable energy subsidiary, Emerging Power (EPI), to jointly develop, own, operate, and maintain renewable energy assets in the power hungry Philippines.
JSW Group, one of India’s largest conglomerates, has announced plans to acquire Indian renewables company Mytrah Energy for $1.32 billion. This is hot on the heels of Shell completing its $1.55 billion acquisition of Indian renewable energy developer Sprng Energy from Actis Solenergi earlier this week.
Shell (LON:SHEL) has finalised its $1.55 billion acquisition of Indian renewable energy developer and operator Sprng Energy from Actis Solenergi. Significantly, the solar and wind power assets that Shell acquires through the deal will triple the oil and gas company’s renewable energy capacity in operation, it said on Tuesday.
France’s TotalEnergies and Japanese energy group ENEOS have received final merger clearance and have completed a joint venture agreement to develop 2 GW of onsite business-to-business (B2B) solar projects across Asia over the next five years.
Newly elected President Ferdinand Marcos Jr reiterated his support for more renewable energy, as well as nuclear power, and natural gas, in the Philippines, one of Southeast Asia’s fastest growing economies. The news comes as plans to import maiden liquefied natural gas (LNG) cargoes into the country have stuttered due to surging global prices.
India’s state-backed Oil & Natural Gas Corporation (ONGC) and joint venture partner Greenko could invest up to $6.2 billion on Indian renewable energy and green hydrogen projects under the terms of an agreement signed this week, Press Trust of India (PTI) reported.
A potential resurgence in nuclear power combined with increasing renewable energy capacity could see less liquefied natural gas (LNG) fueled power projects built in South Korea than previously anticipated.
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
India announced new renewable energy goals last year to increase non-fossil power capacity to 500 GW and meet 50% of the country’s electricity needs through renewables by 2030. However, after including large hydro under the definition of renewables, the country is likely to achieve its 2022 target but may miss out on the solar specific target, and subsequently fall short of the 2030 target, says GlobalData, a data and analytics company.
Solar Philippines has taken a further step toward massively expanding the nation’s renewables capacity, including with one of the world’s top projects, as it aims to help meet rising energy demand and aid a shift away from coal.
Indonesia’s Medco Energi (IDX:MEDC) is on the lookout for more merger and acquisition (M&A) opportunities in Southeast Asia after successfully buying ConocoPhillips Indonesian assets in a $1.355 billion deal struck last year.
French energy major TotalEnergies and Indian billionaire Gautam Adani’s conglomerate are partnering to fund billions of dollars worth of green hydrogen development in India as the world’s third-largest polluter seeks to decarbonise.
Australia's new Labor government has secured a majority in parliament. This is expected to provide a tailwind for renewable energy investment in Australia as the Labor party campaigned on a strong environmental agenda, under its Powering Australia plan.
Power-hungry, fossil-fuel dependent Japan has successfully tested a system that could provide a constant, steady form of renewable energy, regardless of the wind or the sun.
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) is facing significant gas supply challenges that pose further downside risks to the Southeast Asian nation’s gas power sector, warned Fitch Solutions.
France’s TotalEnergies (LSE:TTE) and Japan’s ENEOS are set to develop $2 billion worth of distributed generation assets across Asia following a recent deal to establish a joint venture that will sell power from solar.
Last month the UK Government published its British Energy Security Strategy.
French oil major TotalEnergies plans to use part of its cash bonanza generated from surging hydrocarbon prices to speed up investment in liquefied natural gas (LNG) projects and renewables.