Asia Pacific Energy Review, Oct 15-21

This column focuses on the previous week's main energy events in Asia and the Pacific.

Australia / Wind power and BESS

Sweden’s OX2 acquired a proposed 1 GW onshore wind farm in West Australia that includes a 100 MW co-located BESS. Planned to be built near Perth, the project is in the early stages and its size is not finalized. This is OX2’s first onshore wind project in Australia.

China / LNG trucks

Analysts said the swift rise of natural gas-powered trucks, particularly heavy-duty vehicles of 14 tons and more, is thrusting China past peak diesel demand. China Securities estimated the country’s LNG truck fleet would displace about 9.2 million tons of diesel consumption in 2024, equivalent to 4% of last year’s demand.

Data centers

Delta Electronics plans to build its own energy plants in India and Thailand, as the world's leading provider of power management technologies aims to decarbonize its global supply chain. The company said that Thailand and India are the two most challenging countries to access enough green power.

India / Energy plan

India seeks to be a global energy leader, aiming to reach 2,100 GW of capacity by 2047. Towards that goal, the Central Electricity Authority launched a National Electricity Plan that calls for 500 GW of renewable energy capacity by 2030, reaching 600 GW by 2032.

India / Renewable energy

As of October, India’s energy sector recorded 201 GW of renewable generation capacity, accounting for 46% of the nation’s total installed capacity of 453 GW. Solar accounted for 91 GW of new installed capacity, wind for 47 GW, large hydro 47 GW, small hydro power 5 GW, and biopower added 11 GW.

South Korea / LNG

To strengthen its LNG supply chain, South Korea inked a MoU with Singapore for an LNG swap agreement to leverage their complementary seasonal demand patterns and enhance pricing power through joint purchases. 

Taiwan / Clean energy

The Minister of Economic Affairs proposed to invest in renewables in the Philippines and transport the electricity back to Taiwan via submarine cables in order to address domestic energy supply constraints and meet growing demand for green energy from international technology manufacturers.

Vietnam / Data centers 

South Korea's Hyosung plans to double its investment in Vietnam, with an additional $4 billion slated for data center expansion. Hyosung also has stakes in Vietnam’s renewable energy, power grids and power equipment sectors. South Korea is the country’s leading foreign investor.

Vietnam / Electricity

Thailand's Central Group is adding solar panels, electric forklifts and EV charging to supermarkets in Vietnam. The retailer inked a deal with Tona Syntegra Solar, which also will procure electric trucks and energy storage. Central Group is one of the biggest mall and market operators in Vietnam.

Vietnam / Grid

The development of Vietnam’s direct energy purchase policy amid the push for renewable energy is hampered by grid connectivity’s inability to accommodate a surge in capacity, said the ASEAN Centre for Energy. By 2030, wind, solar, hydropower and biomass will have provided 48% of the nation’s installed capacity.