Kumar Saurabh

This summarized the recent global energy transformation trends. It analyzes the prospects for China's energy production and consumption transformation and explores pathways and technological solutions for achieving net-zero carbon emissions in China's energy system under different international cooperation scenarios. China is key and important to continue to lead the global energy transition and CLP will continue to play a vital role in Mainland China, Hong Kong and in the wider Asia Pacific region!

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IEA world energy outlook 2024 underscores the complex interplay of market forces, policy decisions, and technological advances shaping the energy future, highlighting the need for resilience, grid modernization, and equitable access to energy. Highlighted some of the key Global and India excerpts of this report. Global: >> Investment in clean energy is robust, with over half a trillion dollars directed annually, which is double the investment in fossil fuels. >> Renewable energy, particularly solar PV, is expected to meet the majority of the surging global electricity demand >> China's solar PV generation is on track to surpass the current electricity demand of the United States. >> Energy security is at risk due to geopolitical tensions, particularly in the Middle East and Ukraine, affecting both traditional and clean energy supply chains. >> The energy landscape is undergoing transformation due to government initiatives and market competition, with a focus on energy security and climate action. >> The integration of electric mobility, data centers, and artificial intelligence is driving electricity demand. >> New LNG projects indicate potential for abundant supply, but costs may disadvantage emerging economies. >> The report emphasizes the importance of 'people-centered' energy policies that address both local and global energy security concerns, especially in Asia. India >> India is experiencing rapid economic growth and is projected to become the third-largest economy by 2028. The country's energy demand is expected to grow by nearly 35% by 2035, with a significant increase in electricity generation capacity. >> Coal continues to dominate India's energy mix, but there is a substantial increase in renewable energy capacity, particularly solar PV. >> The Indian government is aiming for net-zero emissions by 2070 has spurred investments in low-carbon technologies and electric mobility. >> The electric vehicle (EV) revolution in India is focused on two/three-wheelers and buses, with over 2.8 million electric two/three-wheelers and over 14,000 electric buses expected to be integrated into the transport system by the mid-2030s. >> National and state policies are promoting the shift to electric vehicles through incentives and infrastructure development, such as the Intra-State Green Energy Corridor. >> Advanced energy scenarios suggest a decline in oil demand and emissions from road passenger vehicles, in line with India's NZE. #https://lnkd.in/gJQuQp55 #Worldenergyoutlook2024

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Thailand’s revised Power Development Plan (PDP) for 2024-2037 still places a significant reliance on gas and coal, which could impede Thailand's goal of achieving carbon neutrality by 2050. While the government plans to reduce gas usage from 57% to 41% and coal from 20% to 7%, and to increase renewable energy to 51%, more needs to be done. Coral Life advocates for not only boosting renewable energy but also significantly improving energy efficiency. By increasing the efficiency of our energy demands, we can make strides toward a more sustainable future. #EnergyEfficiency #SustainableLiving #RenewableEnergy #CarbonNeutrality #GreenBuilding #CoralLife #ThailandSustainability #ClimateAction #EnergyInnovation #EcoFriendlySolutions

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VCMI's Director of Policy & Partnerships, Lydia Sheldrake, was delighted to speak on the role of high-integrity carbon markets to achieve Net Zero by 2050 at the Japan Alliance for High Quality Carbon Credit (JAHQCC) reception in Tokyo: "As we strive towards achieving net-zero emissions by 2050, the role of voluntary carbon markets has never been more crucial. However, the effectiveness of these markets hinges on one critical element: integrity." This comes off the back of our recently signed partnership with JAHQCC to enhance the standing of Japanese corporates by providing technical support and engagement opportunities for public and private sector organizations to engage in high integrity voluntary carbon markets. "We are here today because we recognize the role that Japanese companies and government officials play in the global climate action landscape. Many of your companies have already set ambitious science-based targets, demonstrating leadership and commitment to a sustainable future. But we challenge you to go the extra mile, and to engage with our Claims Code of Practice and Carbon Integrity Claims, to show true climate leadership. " For more on how #VCMI is fostering high-integrity carbon markets and enabling climate leadership, check out our Claims Code of Practice and learn how your company can make a #CarbonIntegrity Claim on https://lnkd.in/duZvnN8t

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Building integrity within Japan's VCM has been a key factor from the outset. Adopting the principles of VCMI's Claims Code of Practice (CCP) will help deliver projects of high integrity that clearly demonstrate additionality, transparency and verifiability.    Japan has adopted an innovative and unique approach to scale its #VCM via its #ETS. The market is currently entirely voluntary but will transition to become a mandatory cap-and-trade system in March 2026.   In our next newsletter, later this week, we’ll be diving into the specifics of Japan's voluntary ETS, looking at how the country is blending its compliance and voluntary carbon markets. Subscribe to our monthly newsletter: https://lnkd.in/dyWhhziH. #VCMI #CCPs #ClimateAction

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At the Future Energy Asia Strategic Summit, Pavich Kesavawong, Deputy Director General at the Department of Climate Change, Energy, the Environment and Water (DCCE), spoke about Thailand’s adaptive approach to green business - by learning from international examples and adjusting strategies, Thailand is positioning itself as a leader in the green economy, driving progress toward a sustainable future. "Thailand learns from the EU or any other country who has the trade barriers, thinking of the economic aspect. From Thailand, we have to adapt ourselves to change and to go into green business.” There's still time to register as a visitor to attend the exhibition for free; head to Halls 1-3 at the QSNCC, today: https://bit.ly/48auzdf Brought to you by dmg events: Energy Portfolio - organisers of ADIPEC Exhibition and Conference, Gastech 2024 and Future Mobility Asia Exhibition & Summit #FutureEnergyAsia #CarbonNeutrality #NetZero #EnergyTransition

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Vietnam just took a bold step by introducing Direct PPA, allowing independent power producers to sell electricity directly to consumers. 💡⚡ This game-changing move could spark a renewable energy surge and is part of a growing trend across ASEAN. Is this the future of power markets in the region? Find my analsys on the recent trend of power wheeling scheme in this article: https://lnkd.in/ghgMjTw5 Do you think Indonesia will introduce power wheeling in its Draft New and Renewable Energy Law? How will PT PLN (Persero) response? #EnergyTransition #RenewableEnergy #PowerWheeling #ASEAN #Vietnam #ElectricityMarket

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As renewable energy expands across ASEAN, meeting carbon emission reduction targets sustainably will require careful consideration of how to reduce environmental impacts. A new report from IUCN and The Stimson Center explores opportunities to ensure that the region’s energy transition is not only net-zero, but also minimizes impacts on biodiversity and ecosystem services. IUCN Water and Land Management Programme

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⭕ Exclusive Corporate Sourcing half-day event and B2B Matchmaking Session, co-hosted by the Global Renewables Alliance (GRA) and the Global Wind Energy Council (GWEC), in partnership with RE100/The Climate Group, CREF, Sustainable Energy for All (SEforALL), Asia Clean Energy Coalition (ACEC), World Resources Institute, and supported by EnergyTag. This forum will take place on 26 November 2024, from 2:00 PM - 6:00 PM KST at Songdo Convensia, Incheon, South Korea. 📅 26th of November 2024 📍 Songdo ConvensiA, Incheon, South Korea ▶️ Register here: https://lnkd.in/gM5KgjTk ⭕ Connect with key clean energy buyers, suppliers, and investors from across the Asia Pacific region! This forum will provide a unique opportunity to foster collaboration, identify new business opportunities, and share insights into renewable energy procurement strategies, particularly within South Korea and beyond. We would be delighted to welcome you and your colleagues to this session. Key event highlights: 🔴 Meet 100+ senior political and industry leaders, developers on corporate sourcing in APAC. 🔴 Explore how corporate PPAs help achieve clean energy goals and navigate the legal, regulatory, and technical challenges in APAC. 🔴 Join efforts to promote renewable energy uptake through project matching, information exchange, and networking. 🔴 Collaborate to signal markets and policymakers towards tripling of renewables to triple global renewable energy capacity by 2030. 🔴 Discuss the key risks and challenges while negotiating corporate PPAs from a developer and offtaker perspective. 🔴 Expert suggestions to diversify renewable energy procurement options and align renewable energy certification systems with international GHG accounting standard.

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ASIA PACIFIC GREEN HYDROGEN 2024 (10 - 12 June 2024) SARAWAK, MALAYSIA Asia Pacific is home to some of the world’s largest and fastest-growing economies seeking to reduce their carbon footprints and transition to a low-carbon future. Several countries in the region have set ambitious targets for deploying green hydrogen and are implementing supportive policies and incentives to drive investment in the industry. The region’s large and growing demands for clean energy present significant market opportunities for developing a green hydrogen industry with supportive government policies and abundant of renewable energy resources. The Asia Pacific Green Hydrogen Conference & Exhibition (APGH) 2024 is the platform for government, policymakers, industry players, investors, businesses, manufacturers, researchers, academia, and other stakeholders to convene and set the correct growth agenda for mutual benefits. Sarawak is the ideal host for APGH2024 as the state embarks on its journey towards a green economy by 2030 with a specific focus on green hydrogen, which is a crucial component of a sustainable energy system. This also allows Sarawak the opportunity to accelerate its learning curve to expedite its growth and better understand the latest trends and emerging technologies. Kindly visit the following link for more information: https://hydrogenapac.com/

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The Asia Zero Emission Community (AZEC), led by Japan, promises to guide Asia toward carbon neutrality. Yet, its reliance on fossil fuel-based technologies like LNG, ammonia co-firing, and carbon capture undermines its goals. These “false solutions” perpetuate fossil fuel dependency and fail to deliver meaningful decarbonisation. #NetZero #FalseSolutions #EnergyTransition https://bit.ly/41drwjL

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Rapid Power Demand Growth In The Singapore Energy Market At the end of the 2010s, the prevailing narrative was that the power sector was over-supplied, with a huge reserve margin and hence very low wholesale electricity prices. How things have changed. With sharply rising electricity demand and decommissioning of old generation units, the need now is to add generation capacity rapidly this decade. How fast is electricity demand growing? This is what EMA said on 29 Jan 2024: "Over the next five years, the system peak demand is projected to grow faster with an annual growth of at least 3.4%, compared to the previous decade’s 1.5% growth. This acceleration is driven by industries such as advanced manufacturing, digital economy, food, and transport." https://lnkd.in/gpTRPw2K Note that the Business Times article below reports that the latest projection is for peak demand to grow at least 3.7% over the next six years. So that's an increase from 3.4% to 3.7% in just 4 months. The power sector will be having the following new units in the next few years: ● Keppel's 600 MW CCGT (COD 2026) ● Sembcorp's 600 MW CCGT (COD 2026) ● YTL PowerSeraya's 600 MW CCGT (awarded just 4 months ago (on 29 Jan 2024) under EMA's first RFP - COD 2028) And now this 2nd RFP by EMA will be for another 2x600 MW CCGTs, to COD in 2029 and 2030 respectively. That's 3 GW of new generation capacity that will come onstream in a space of just 4 years. That's a LOT of growth. "On Tuesday (Jun 4), EMA said it invited the private sector to build, own and operate two new hydrogen-ready combined cycle gas turbine generating units. The two units are expected to be ready in 2029 and 2030, respectively, and each will have a generation capacity of at least 600 megawatts (MW). “As Singapore’s electricity demand continues to grow, it is crucial that we ensure we have sufficient generation capacity to power our homes, workplaces and communities,” said Ngiam Shih Chun, chief executive of EMA. The statutory board projects Singapore’s power system peak demand to grow at least 3.7 per cent over the next six years. By 2030, the country’s peak demand is anticipated to reach between 10.1 and 11.8 gigawatts." https://lnkd.in/gb9BcVV9

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⭕ Exclusive Corporate Sourcing half-day event and B2B Matchmaking Session, co-hosted by the Global Renewables Alliance (GRA) and the Global Wind Energy Council (GWEC), in partnership with RE100/Climate Group, CREF, Sustainable Energy for All (SEforALL), Asia Clean Energy Coalition (ACEC), World Resources Institute. This forum will take place on 26 November 2024, from 2:00 PM - 6:00 PM KST at Songdo Convensia, Incheon, South Korea. 📅 26th of November 2024 📍 Songdo ConvensiA, Incheon, South Korea ▶️ Register here: https://lnkd.in/gM5KgjTk ⭕ Connect with key clean energy buyers, suppliers, and investors from across the Asia Pacific region! This forum will provide a unique opportunity to foster collaboration, identify new business opportunities, and share insights into renewable energy procurement strategies, particularly within South Korea and beyond. We would be delighted to welcome you and your colleagues to this session. Key event highlights: 🔴 Meet 100+ senior political and industry leaders, developers on corporate sourcing in APAC. 🔴 Explore how corporate PPAs help achieve clean energy goals and navigate the legal, regulatory, and technical challenges in APAC. 🔴 Join efforts to promote renewable energy uptake through project matching, information exchange, and networking. 🔴 Collaborate to signal markets and policymakers towards tripling of renewables to triple global renewable energy capacity by 2030. 🔴 Discuss the key risks and challenges while negotiating corporate PPAs from a developer and offtaker perspective. 🔴  Expert suggestions to diversify renewable energy procurement options and align renewable energy certification systems with international GHG accounting standard

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Southeast Asia should tread carefully on their (imported) LNG-to-power rapid expansion plans if their renewables-grid investment is underexplored. On The Straits Times. Rising economies, declining domestic #gas and coal-to-gas switch stories have been sold too many times. But switching from domestic cheap gas to imported #LNG is a different ball game. *Also consider that some SEA countries put price caps on their domestic cheap gas already. Let's recap. US' #coal switch was fairly straightforward with cheap gas priced below $5/MMBTU. Europe temporarily scrambled for LNG after Russian gas shut out but are building up RE and can better afford LNGs. Japan and South Korea have been buying LNG for decades. There will be some room for gas, but shoving too many LNG power into emerging markets warrant deep questions. Now, while RE can be more cost effective in the medium run, investing in renewables+grid is admittedly frontload-heavy in capital investment. Executives and authorities may not have incentive to look that far out, hence robust and transparent planning is needed. Perhaps quite a few of the announced project may never see the light of day. But nevertheless, tread with care as ultimately the hefty LNG cost will be borne by the consumers or government. Thoughts are much welcomed. *No single mention of lifecycle methane emissions there yet. ha. Thank you for the invite to comment Pak David Fogarty

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𝐄𝐧𝐚𝐛𝐥𝐞𝐫𝐬 𝐟𝐨𝐫 #𝟑𝐱𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞𝐬 A systemic #energytransition to triple global renewables capacity and double energy efficiency by 2030 requires countries to overcome structural barriers. Look forward to the 3rd article in the series, on the role of supply chains, skills and capacity as key enablers to overcome the barriers. Learn more: http://bit.ly/3YdM4XT

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Malaysia’s SMP — the price of the most expensive marginal generator or plant needed to supply power to balance the market — averaged at 20.46 sen/kWh (Jan 1 to April 8, 2024) while LSS4 projects, which came online last year, had tariffs between 17.68 sen to 24.81 sen/kWh. In Singapore, the regulated electricity tariff stands at 1.046/kWh for 1H2024.

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