Asia Pacific Energy Review: July 23-29
This column focuses on the previous week's main energy events in Asia and the Pacific.
Australia / Electricity market
The West Australian govt seeks bids for dispatchable capacity projects in its wholesale electricity market. The tender aims to deliver 500 MW of 4-hour equivalent, or 2 GWh of clean dispatchable capacity. This will help support the state’s energy system to reach 82% renewables by 2030.
Australia / Natural gas
The govt is set to issue new offshore gas exploration permits to ensure a stable energy supply and move away from coal-fired power facilities.Â
China / Solar power
Leading solar panel makers are setting up in the U.S. to take advantage of the Inflation Reduction Act. These include Illuminate, a JV between Longi (China) and U.S. energy developer Invenergy. Trina (China) is investing $200 million in a 5 GW solar module plant in Texas. Jinko (China) opened a 400 MW panel factory in Florida in 2018.
India / Biomass
The Ministry of New and Renewable Energy announced new financial incentives for biomass pellet manufacturing in order to promote cleaner air quality and green energy sources
India / Energy transition
The country aims to achieve 50% non-fossil fuel-based energy by 2030. India’s renewable energy capacity has reached 190 GW as of April, according to the Economic Survey. This accounts for 43% of the nation’s total installed generation capacity.
India / Rooftop solar
The Asian Development Bank approved a $240 million loan to boost rooftop solar systems, helping India expand energy access and achieve its target of about 50% of cumulative electric power installed capacity from non-fossil fuel energy sources by 2030.Â
Malaysia / CRESS
In September, the govt will launch the Corporate Renewable Energy Supply Scheme (CRESS) in order to facilitate open grid access, allowing third parties to supply or purchase electricity through the grid system under agreed terms.
Philippines / Oil spill
A marine tanker carrying industrial fuel sank in rough seas, causing an oil spill that could spread to waters off the capital Manila.
South Korea / EV batteries
LG Energy Solution is in talks with about three Chinese suppliers to produce low-cost EV batteries for Europe, as competition is expected to intensify after the EU hit Chinese-built EVs with extra tariffs.
Thailand / Hydrogen power
Saudi Arabia is considering investing in Thailand, particularly hydrogen energy. Thailand’s Energy Minister was in Riyadh last week. Also, there is a proposal to extend cooperation to the transfer of Saudi know-how and energy technology, and assistance in establishing Thailand's strategic oil reserve infrastructure.