Green Power Conferences
August 28, 2012
Compared to other parts of Asia, the Southeast has so far been relatively slow to see the potential of solar. However, in recent months, there have been several significant signs of changes.
We envisage Southeast Asia to become a highly attractive market for small-scale renewable energy projects.
Responding to ever increasing energy demands and electricity prices, Thailand has launched a 10 year renewable energy programme which aims to achieve 25% of its total energy needs from renewables by 2021. As part of this target, solar is hoped to provide 12% of the country’s energy by 2030.
This ambitious goal is just one of many examples of changing attitudes to renewable energy across Southeast Asia.
The recent introduction of generous government subsidies and incentives, coupled with the on-going decrease in PV prices, has hugely improved conditions for investment in solar technologies across the region.
Speaking about the launch of Armstrong Asset Management’s South East Asia Clean Energy Fund - which aims to provide early-stage capital to small-scale renewable energy (solar and hydro) projects in Thailand, Indonesia, Malaysia and other emerging markets - the company’s Managing Partner Andrew Affleck commented:
“The Armstrong strategy intentionally capitalizes on Southeast Asia’s regional diversity, in contrast to other investors who tend to shy away from smaller deal sizes. We envisage Southeast Asia to become a highly attractive market for small-scale renewable energy projects.”
On the subject of projects in the pipeline, he went on:
“In Malaysia, we are working on a portfolio where over the next 18 months we would develop around 20MW In Thailand, we’re looking at multiple projects that over the next 24 months would generate in aggregate 100MW of solar power.”
Another example of promising growth in the region’s solar sector comes from the Asian Development Bank’s Asia Solar Energy Initiative, which aims to develop and generate 3,000MW of solar power in Asia and the Pacific region by 2013. Under this scheme, large-scale solar energy grid applications as well as decentralized systems for remote and rural communities will be developed, providing cheap, reliable energy to a region undergoing rapid industrial and economic growth.
With further changes taking place in Malaysia, Indonesia, and the Philippines, opportunities for solar are emerging throughout the region and it’s only a matter of time before this exciting market makes the most of its extensive potential.
The Solar Southeast Asia conference and exhibition is the first event of its type to focus exclusively on the extensive opportunities this new solar market has to offer. A new addition to Green Power Conferences Global Solar Series, join them in Bangkok to get up-to-date with the latest policies and FiTs, making key government and industry contacts and discover where the market is heading.
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