July 2014

Funding Energy Futures

We like to get more people thinking and acting for a low carbon, clean energy future, so we don't hesitate to bring to readers' attention plans by the rich and famous (Warren Buffett, for example) or the views of energy experts like Nick Butler, as to where the world is heading and the need for a multinational approach to energy investment.  For our part, we continue in a determined fashion to invest in viable renewable energy projects in the region - Indonesia this time - and recognize the plans of others to collaborate, like The Blue Circle and Annex working together to leverage each other's experience and network. We also want to show that things are happening elsewhere in the world that should give us heart: more money going into wave energy in Australia, for example, and Singapore's Atlantis Resources moving ahead with tidal energy projects in Europe. It is fair to say too that Singapore is starting to get recognition, not only for its excellent research work in clean energy, but also as "the place most likely to succeed" as a centre for funding a clean energy future for Asia and further afield.

Andrew Affleck

South East Asia Renewable News 

Indonesia Mini-Hydro Investment Plans Proceed

Armstrong Asset Management has agreed to commit up to US$22.5 million to develop and operate a portfolio of 50MW mini-hydro plants in Indonesia being developed by PT Inti Duta Energi (IDE), mini-hydro development subsidiary of Jakarta-listed construction company PT Nusa Konstruksi Enjiniring Tbk (NKE). Read More 

Annex & The Blue Circle Partner for Wind Projects

The Blue Circle, the Singapore-based renewable energy developer operating in the Mekong region (Vietnam, Thailand and Cambodia), is entering into a partnership with Annex Power, a leading renewable energy group in South East Asia, which is expected to lead to approximately US$200 million worth of wind project investments in Thailand. Previously Armstrong has announced a partnership with The Blue Circle and has committed to invest in Annex Power solar projects in Thailand. Read More

Review Could Impact on Solar Roof-top Plans?
Thailand's new Energy Conservation Fund Board, chaired by Gen Udomdej Seetabutr, secretary-general of the National Council for Peace and Order (NCPO), ordered a review of 23 energy-saving and energy-efficiency projects worth nearly 10 billion baht.  Among the projects are 1.84 billion baht for solar rooftops on state-owned buildings, 400 million for LED lamp replacement for the Defence Ministry and 524 million for energy-saving electrical equipment for small and medium-sized enterprises. Read More

Grid Parity Boost for Solar Leasing in Singapore

Dr Thomas Reindl, of the Solar Energy Research Institute of Singapore, said as Singapore achieved grid parity in 2012 - where the cost of installing and maintaining solar PV panels is on a par with using conventional electricity - solar leasing has established itself as a viable business model in the country.The Housing and Development Board (HDB) last month called for the largest solar-leasing tender to date, under which solar photovoltaic (PV) panels will be installed on the rooftops of about 500 HDB blocks. Read More

Global Renewable Energy News 
US$80 Billion Energy Waste from Inefficient Electronic Devices 

Today, the world's 14 billion online electronic devices - such as set-top boxes, modems, printers and game consoles - waste around US$80 billion each year because of inefficient technology. By 2020, the problem will considerably worsen, with an estimated US$120 billion wasted. But a report by the International Energy Agency points to a different path, identifying simple measures that can be implemented now to improve energy efficiency in networked devices, resulting in massive savings of energy and money. Read More  

Pacific Islands Clean Energy Funding from ADB

The Asian Development Bank (ADB) will invest US$228 million in energy projects in the Pacific in the next 3 years to help the region reduce its heavy reliance on fossil fuels and support more sustainable and environmentally friendly growth, according to its new Pacific Energy Update 2014. The report provides a summary of existing operations in Cook Islands, Fiji, Federated States of Micronesia, Marshall Islands, Nauru, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu, as well as regional initiatives. Read More   

$15 Billion More for Renewables: Warren Buffett

Bloomberg reports that Warren Buffett briefly lost track of how many billions of dollars his company is spending to build wind and solar power in the US when describing the investment in renewable energy at the Edison Electric Institute's annual convention. That didn't stop him from vowing to double the outlay. "There's another $15 billion ready to go, as far as I'm concerned." Read More

 

Singapore's Atlantis Tackles Britain's Tidal Resources

Britain's coasts have become a playground for engineers and entrepreneurs intent on producing electricity from the tides. Their efforts are beginning to generate a buzz.Tides, of course, are utterly predictable. Singapore-based Tim Cornelius of Atlantis Resources says that Britain's long, jagged coastline gives it unrivalled tidal resources. This report appeared in the Economist. Read More

 

Australian Wave Energy Project Gets Government Boost

In spite of back-tracking on its renewable energy commitments, the Australian Government has granted  A$11 million to Carnegie Wave Energy's first CETO 6 Project to be located at Garden Island, Western Australia, in addition to the Clean Energy Finance Corporation A$20m loan facility. Read More

100% Renewables for all Apple Installations 

Apple company's goal is to power all its corporate offices, retail stores and data centers entirely with energy from renewable sources - solar, wind, micro-hydro, and geothermal. It has just received permission from the City Council of Claremont, North Carolina to build a third solar array near its Maiden data center. Apple's initial investment in the 100-acre, 17.5 MW solar farm is US$55 million. Read More

Events of Note  

Renewable Energy Focus for ASEAN Power Week

More than 120 international experts will be present in Kuala Lumpur for the ASEAN Power Week 10-12 September to present and discuss various issues in the power generation industry, focusing on strategic and technical power issues and challenges, the continued growth of the renewable and alternative energy sectors and the financial marketplace within power generation. Coming to Kuala Lumpur are POWER-GEN Asia, Renewable Energy World Asia and the newly created POWER-GEN Asia Financial Forum. Read More  

Commentary

Time For Multinationals to Invest in Renewables  

Renewables will never break through economically and will remain perpetually dependent on subsidies. There are technologies which could have serious long term potential such as geothermal and tidal power but major investment is needed to bring costs down. Somewhere in this mix is the transformative step which will lift the cost barrier and reshape the market. It is time for multinationals to step in, says Nick Butler in the Financial Times. Read More

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