Asia Pacific Energy Review : April 15-21
This weekly column focuses on energy events in Asia and the Pacific
Australia / BESS
Quinbrook Infrastructure Partners began building stage 1 of a 250 MW / two-hour battery energy storage system (BESS) in Queensland; it invested about A$325 mln in the project that’s part of a A$2.5 billion battery and data center facility at South Pine.
China / Clean energy goods
U.S. Treasury Secretary Yellen said China's investments in production of clean energy goods creates an unfair playing field that puts U.S. businesses at risk. From a supply chain standpoint, she “thinks it creates risks that we're clearly seeking to mitigate”.
Data centers
By 2030, the world’s data centers are expected to use more electricity than India. AI’s voracious need for computing power is threatening to overwhelm energy sources, said Arm Holdings CEO Rene Haas, adding that a solution must be found.
Energy Transition
High interest rates will “disproportionately affect” renewables, nuclear power and new technologies, and could slow the energy transition, reports Wood Mackenzie. In contrast, companies in the metals, oil and gas sectors will be less impacted due to their low gearing.
Indonesia / Oil
Shares of Indonesia Energy Corp surged more than 100% last week, but then dropped, though still trading above the April 11 mark of $2.74. On April 15, shares surged to $6.08, settling at $5.26 on April 20. These movements reflect growing concern that the price of oil might skyrocket if there’s a major war in the Middle East.
Malaysia / Electricity markets
The govt will set up the Energy Exchange Malaysia (Enegem) to facilitate the sale of renewable electricity to neighboring countries. An auction will begin with a pilot run of 100 MW, utilizing the existing interconnection between Singapore and Malaysia.
SE Asia / Energy transition
Southeast Asia is "woefully off track" on green investments to reduce emissions, and needs new policies and financial mechanisms to bridge the gap, said consultancy Bain. While green investment grew 20% last year, it falls short of the $1.5 trillion required this decade.
Thailand / EV batteries
Two major EV battery producers in China are showing interest in producing power cells in Thailand, with a possible combined first phase investment at over 30 billion baht, said the Board of Investment. Thailand has attracted significant foreign investment in EV production.
Vietnam / Energy transition
Vietnam and Australia agreed to collaborate on climate and energy development to boost sustainability. Australia also committed A$105 mln to support development in sustainable infrastructure in Vietnam, with a focus on clean energy.