ASEAN Looks to Boost Renewable Energy Capabilities
- October 27, 2021
- Posted by: Quatro Strategies
- Category: Energy
Both governments and companies from Southeast Asia and Australia are looking to develop renewable energy sources and a green power grid in the region.
Association of Southeast Asian Nations (ASEAN) works on a regional power grid project that will cover Laos, Thailand , Malaysia and Singapore. The members aim to flow the first 100 MWs of electricity in 2022.
Exxon is also active in the region, as the fossil fuel giant began talks with potential countries that it could use for carbon capture storage (CCS) bases.
There are also important developments in Australia-Asia PowerLink project, one of the largest renewable energy projects in the world. The $22 billion project targets 2027 to begin exporting from the world’s largest solar farm in Australia to Singapore. Construction of the project is expected to begin in 2023.
Singapore’s other renewable energy supplier could be Indonesia, as Gallant Venture and Pacificlight Power will jointly develop a solar photovoltaics plant in the country. The project was granted a conditional import license by Singapore.
Singapore aims to import up to 4 GWs of low-carbon electricity by 2035, or about 30% of its total supply. The country targets a supply diversification and wants to secure future energy supply.
Get your daily Business Brief
Business Brief delivers the latest insights straight to your inbox
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business