Page 14 - AsiaElec Week 17 2021

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overseas coal projects Majority Lao state-owned power generation Policy Dialogue” mechanism established
Convened under the bilateral “Energy
firm, EDL-Generation Plc (EDL-Gen), is
South Korean President Moon Jae-in seeking strategic private partnerships in October 27 last year, the event brought
announced on Thursday his country would neighbouring countries to boost its total together leading U.S. and Thai companies, as
end all new financing for overseas coal capacity by 25% to fulfil growing regional well as a wide range of government agencies
projects and would soon set a more ambitious energy demand. from the two countries. By improving private
schedule for slashing carbon emissions. It plans to increase its capacity to 2,435 and public sector coordination, the initiative
Moon made the promises during a video megawatts by 2029 from 1,949MW currently. will help increase access for the Thai public to
address to a two-day virtual climate summit The additional capacity will come from sustainable, cost-effective sources of energy.
convened by U.S. President Joe Biden, Reuters hydroelectric power plants currently in the U.S. Chargé d’Affaires Michael Heath and
reported. pipeline, including seven wholly-owned Thai Ministry of Energy Permanent Secretary
The announcement makes official parts power plants and eight more under the Kulit Sombatsiri led the delegations.
of a “Green New Deal” proposed by Moon’s independent power producer (IPP) scheme. Chargé d’Affaires Heath said, “Driven by
ruling party last year, which set ambitious The projects will be either reservoir or run-off forward-leaning government policies and
goals of net-zero emissions by 2050, an river hydroelectric plants. private sector innovation, Thailand is leading
end to funding of overseas coal plants and IPPs that have joint ventures with EDL- the region and the world in charting a path to
introduction of a carbon tax. Gen include Nam Theun 1, Nam Dik 1, Nam energy security. We applaud the efforts of both
“To become carbon neutral, it is imperative Phoun, Nam Bi unit 1-3 and Pak Beng, which U.S. and Thai companies to diversify energy
for the world to scale down coal-fired are currently under construction. production, modernise infrastructure, and
power plants,” Moon said, while noting that EDL-Gen is one of the main power help build regional markets for exchange of
developing countries that would struggle generation firms in Laos with a market share energy commodities.”
due to their dependence on coal “should be of 17% in terms of generation capacity. Energy Permanent Secretary Kulit said,
given due consideration and access to proper Duangsy Pharanhok, managing director of “Thailand’s Ministry of Energy recognises the
support”. EDL-Gen, said on Tuesday that the company importance of U.S.-Thai bilateral cooperation
Under Moon, South Korea stopped is striving to achieve the Lao government’s on energy. The meeting today provides
issuing permits for new domestic coal-fired goal of being the “Battery of Asia” through its a major opportunity as a forum for both
power plants, but had faced criticism from hydroelectric power plants which can produce countries’ private sectors to exchange data
environmental activists over continued as much as 30,000MW nationwide based on and ideas to create a business environment in
financing of coal plants in places such as an estimate by the World Bank. the energy sector in the future. This comes at
Indonesia and Vietnam. the right time to springboard collaboration
South Korea has already set a target from all parties in the energy sector to enable
of reducing emissions by 24.4% from the economic recovery, including our efforts to
2017 level by 2030 as part of the country’s INVESTMENT prevent and solve climate change problems
commitment under the Paris Agreement, — which are important at the global level and
known as a nationally determined US, Thailand identify new will be discussed during this meeting.”
contribution (NDC). US EMBASSY, BANGKOK
The country plans to “additionally raise” areas for energy investment
the NDC and report it to the United Nations
later this year, Moon said, without specifying The United States and Thailand identified
the new number. new areas for bilateral collaboration in the
Moon has portrayed his Green New energy sector during a virtual “Private Sector
Deal, which includes billions of dollars in Engagement Event” held on April 27.
investment in things such as electric vehicles
and hydrogen cars, smart grids to manage
electricity use more efficiently and promoting
remote medical services, as a way to create
jobs and help the economy recover from the
coronavirus pandemic.
“With a view to promoting investment
in renewable energy facilities, both in and
outside Korea, we will actively seek to scale up
green finance,” he said.

INVESTMENT
Lao power generation firm

seeking partners to boost

capacity

P14 www. NEWSBASE .com Week 17 28•April•2021