Philippines Power Capacity Expected To Grow More Than Twofold By 2030, says GlobalData
The annual power consumption in the Philippines is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 82.5TWh in 2020 to 145.1TWh by 2030. To fulfill its growing power demand, the Philippines government plans to increase its total installed power capacity from 27.6GW in 2020 to 58.4GW in 2030. With no plans for nuclear power development and limited potential of hydropower development, most of the installed capacity is expected to be sourced from thermal power and renewable (excluding hydro) power, says GlobalData, a leading data and analytics company. The GlobalData’s report ‘Philippines Power Market Outlook to 2030, Update 2021 – Market Trends, Regulations, and Competitive Landscape’ reveals that the Philippines plans to increase its renewable power capacity from 5.3GW in 2020 to 22.2GW by 2030. Similarly, it also plans to increase thermal power capacity from 18.4GW in 2020 to 30.7GW by 2030 driven by coal fired thermal power plants.
Trungnam Group Sells 49% Stake In Vietnam Solar Plant
The Trungnam Group, a HCMC, Vietnam based group with interests in real estate, infrastructure and energy has sold a 49 percent stake in a central Vietnam solar power plant to an electricity equipment manufacturer. The sale value has not been disclosed. The stake has been bought by A Chau Industrial Technology, a manufacturer of electrical equipment that has been showing increasing interest in solar power development in recent years. It now operates five solar power plants nationwide. Almost 3 years ago, the TrungNam group had started operating its VND5 trillion ($217.63 million) 204-megawatt Trung Nam Thuan Bac Solar Power Plant in Ninh Thuan Province. The plant could produce 450 million kilowatt-hours of electricity a year with its 700,000 solar panels.
Philippines Increases Carbon Emission Reduction Target To 75%
The Philippines said that under its commitment to the Paris Agreement on Climate Change, it was revising its target to cut greenhouse gas emissions to a 75% reduction by 2030. This is up from a target of 70% set four years ago. As prescribed by the Paris Agreement, 72.29% is conditional on the support of climate finance, technologies and capacity development provided by developed countries. The remaining 2.71 per cent of the target has to be implemented mainly through domestic resources. In 2017, the Philippines had ratified the agreement allowing Manila access to the Green Climate Fund, which aims to channel billions of dollars to help poor nations tackle global warming.
Namiki Precision (Thailand) Co., Ltd. And Constant Energy / Shizen Energy Execute A Corporate PPA For A Corporate Solar PV Rooftop In Thailand
Constant Energy and its Japanese partner, Shizen Energy, are pleased to announce they have executed a long-term Power Purchase Agreement on a corporate solar PV rooftop of total installation capacity of 1.3 MW with Namiki Precision (Thailand) Co., Ltd. a leading company on producing and providing Medical Devices, Fiber Optic Components, DC Micro Motor located in Northern Region Industrial Estate, Lamphun province. The project is expected to start operation in the third quarter of this year.
Franck Constant, Founder, and CEO of Constant Energy stated “We are very pleased and honoured to establish a long-term partnership and work with Namiki Precision (Thailand) Co., Ltd., a leading company for manufacturing high-quality medical devices, fiber optic components, and DC micro motor. We are especially appreciative of the vision of Namiki on environment conservation. We appreciate that Namiki found that Constant Energy has been rapid to implement Namiki’s site as a priority. The project is expected to COD in the third quarter of this year. We look forward to supporting Namiki on a combined reduction of electricity cost and GHG emissions.”
Thailand’s Floating Hydro-solar Hybrid Project Close To Completion
Thailand is building one the world’s biggest floating hydro-solar hybrid projects on the surface of a dam and has almost completed it. This is a step towards boosting renewable energy production. The solar farm is located on a reservoir in the northeast province of Ubon Ratchathani. Itcovers 300 acres (121 hectares) of water where about 144,417 solar panels are being installed. The workers are completing the last of seven solar farms. The state-run Electricity Generation Authority of Thailand (EGAT) says that this pilot project is one of the world’s largest hybrid hydro-solar power ventures and aims to replicate it at eight more dams over the next 16 years.
Intel Malaysia Uses Solar Energy To Power Six Buildings In Kulim And Penang Campus
Intel Malaysia announced that it is using solar energy to power six buildings across the company’s Kulim and Penang campus. This is from a new 3.2 megawatt (MW) solar installation. The solar installation is set up by NEFIN, a renewable energy developer and is achieving 4.1 MW in total installed capacity. This project is Intel’s largest solar farm outside the U.S. Since its start in 2020, the solar farm contributes about 15 percent of Intel’s global, on-site solar photovoltaic electric power capacity. It will also reduce carbon dioxide emissions by about 3,800 tons.