Agus Sari, CEO of Landscape Indonesia, emphasizes the need for repayment-free funding, such as grants and carbon credits, to support Asia’s coal phaseout. Sari argues that retiring coal power plants is costly and financing them with loans and equity creates repayment challenges. He suggests that carbon credits offer a straightforward funding model and can mobilize private finance more effectively than grants, which are predominantly sourced from public funding or philanthropy. Indonesia, a country heavily reliant on coal for power generation, has struggled to secure grant money even in significant partnerships like the JET-P deal, prompting the exploration of alternative financing options like refinancing deals.
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Criterium Energy, led by former Talisman Energy executives, aims to capitalize on Indonesia’s plans to increase oil and gas production by 2030. The Calgary-based company sees opportunities in the region, which is currently underserved by independents, and believes there is ample room for growth. After facing initial setbacks due to the pandemic, Criterium successfully revamped a listed company, Softrock Minerals, in September 2022, providing a fresh direction and securing capital for its endeavors.
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Indonesia is seeking RM7 billion to facilitate its exit from coal production. This financial allocation aims to support the country’s transition towards cleaner energy sources and reduce carbon emissions. The funds will be utilized for initiatives such as assisting affected coal workers and promoting the development of renewable energy infrastructure.
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President Jokowi Widodo’s visit to Australia not only strengthens bilateral relations but also paves the way for increased investments in various sectors in Indonesia. This significant development underscores Indonesia’s potential for exponential growth, particularly in the production of electric vehicle (EV) batteries. President Widodo has effectively highlighted the country’s thriving green energy sector, encouraging potential investors to explore the vast opportunities it presents. As a result, this visit acts as a catalyst for further advancements in Indonesia’s economy, driving innovation, sustainability, and attracting global investments in key industries.
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Western Australia’s Premier, Roger Cook, solidified the region’s commitment to the global transition towards net-zero emissions by signing a groundbreaking Memorandum of Understanding with the Indonesian Chamber of Commerce and Industry (KADIN). This strategic partnership aims to unlock the full potential of the nickel and copper industries in battery production, thereby accelerating the development of sustainable energy solutions and cementing Western Australia’s pivotal role in driving a greener future.
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Indonesia has witnessed a sharp increase in coal burning, driven primarily by the demand for green nickel. The surge is attributed to the growing need for green nickel in electric vehicle battery production. This poses a challenge in balancing environmental concerns with the demand for critical minerals in the renewable energy transition.
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The second round of green energy auction administered by the Department of Energy (DOE) turned out lower than expected with bidders subscribing to only 30% of the total capacity offered. The Luzon grid received the highest uptake with 36.5% of the renewable energy (RE) capacity being taken up, while the Visayas grid had a 25.1% uptake and the Mindanao grid had an extremely low uptake of 5.7% of the available capacity.
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The National Grid Corporation of the Philippines (NGCP) is steadfast in its commitment to promoting the green transition of energy, prioritizing the integration of alternative energy sources into their energy plan’s transmission grids. The collaboration between NGCP and the State Grid Corporation of China (SGCC) holds the promise of resolving grid issues in the country, ushering the improved reliability and efficiency. However, the realization of this transformative plan hinges upon the crucial approval from the Energy Regulations Center (ERC) to reinforce infrastructure and allocate capital expenditures, enabling the establishment of robust and advanced grids.
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The United States Agency for International Development (USAID) has allocated an impressive amount of P65 Million to spearhead vital projects aimed at fostering energy security and conservation in the provinces of Isabela and Cagayan. With implementing partners, Tri-Sky Inc. and the Philippine Disaster Resilience Foundation, this budget will be meticulously utilized to bolster local energy planning efforts and facilitate the installation of renewable energy technologies. These technologies include the widespread implementation of solar panels on household roofs, as well as the deployment of innovative nanogenerators. The ultimate goal is to promote sustainable energy practices and empower the local communities to thrive in an environmentally conscious and self-sufficient manner.
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In response to the Supreme Court ruling on the 48-hour suspension of electric consumption, the Energy Regulations Commission (ERC) is conducting a review of the Magna Carta for Residential Electricity Consumers. The purpose of this review is to reinforce consumer rights and safeguard them against any unjustified disruption of service connections.
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The Energy secretary, Raphael Lotilla, firmly believes that incorporating ammonia and green hydrogen into the policy framework is essential for diversifying the energy mix and advancing sustainable alternatives. Given the rapid advancements in ammonia technologies and extensive research conducted on its derivatives, it is imperative for the country to actively explore and embrace these clean energy solutions to foster a greener future.
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According to data from the Department of Energy (DOE), the country’s on-grid power capacity experienced a five percent growth by the end of 2022, with coal maintaining its dominant position in the energy mix. However, Energy Secretary Raphael Lotilla expressed confidence that the Philippines is on track to achieve its renewable energy (RE) targets of 35% and 50% share by 2030 and 2040, respectively. The continuous growth in on-grid capacity and the government’s commitment to expanding the RE sector demonstrate a promising trajectory towards a more sustainable and diversified energy landscape in the country.
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The Energy Institute addressed the Ministry of Industry and Trade (MOIT) with Official Letter No. 0975/VNL-P8, providing an update on the progress of the Power Development Plan 8 (PDP8) implementation. They expressed the inability to meet the June 2023 deadline for planning tasks and recommended a realistic timeframe. The Energy Institute also requested financial support from the MOIT to ensure the successful execution of the plan.
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The Electricity and Regulatory Authority of Vietnam (ERAV) has submitted a report to the Ministry of Industry and Trade (MoIT) regarding the Direct Power Purchase Mechanism (DPP). The report evaluates international experiences and explores cases of direct electricity sale and purchase, emphasizing the use of renewable energy sources for green energy provision. The DPP pilot program is planned for a three-year duration.
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ACEN Corp., an Ayala-led renewable energy company, has acquired the shares of Super Energy Corp. Plc, expanding its presence in Southeast Asia. The acquisition includes Super Energy’s 837 MW solar projects in Vietnam.
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Sungrow and Super Energy have commissioned Southeast Asia’s largest solar-plus-storage project. The project includes a 49.01 MW photovoltaic inverter solution and a 45 MW/136.24 MWh battery energy storage system, increasing Super Energy’s power generation capacity to 359 MW. This project aligns with Thailand’s goal of achieving carbon neutrality and supports its Power Development Plan 2018-2037 and Thailand 4.0 national strategy.
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Norway’s government said it has given approval for oil companies to develop 19 oil and gas fields with investments exceeding 200 billion Norwegian crowns ($18.51 billion), part of the country’s strategy to extend production for decades to come. Norway’s parliament in 2020 introduced temporary tax incentives to encourage petroleum investment at a time of low activity, triggering a rush of applications from energy companies.
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The Natural Gas World article explores the ongoing global gas crisis and its implications for the net zero transition. With soaring gas prices and supply disruptions, the article highlights the challenges faced by gas-dependent countries. It emphasizes the importance of diversifying energy sources, investing in renewables, and accelerating the shift away from fossil fuels to achieve net zero goals.
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Japan has exempted three Russian energy projects from sanctions, signaling a focus on bolstering energy cooperation and economic ties. The projects, including a natural gas field and two LNG plants, aim to enhance energy security and diversify Japan’s energy sources. This decision highlights Japan’s commitment to fostering energy partnerships beyond geopolitical constraints.
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Germany Economic Institute economist, Christian Ruche, underscored that the country experienced an alarming decline in its ability to attract business investment in 2022, with over €135bn of foreign direct investment leaving the country while only €10.5bn came in. The decline was attributed to factors such as high energy prices, a shortage of skilled workers, high corporate taxes, excessive bureaucracy, and an ailing infrastructure, prompting calls for the German government to take action to improve the country’s business attractiveness.
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