Page 13 - AsiaElec Week 12 2021

AsiaElec NEWS IN BRIEF AsiaElec

WIND

Contact Energy plans

pipeline of large-scale wind
farms in New Zealand

New Zealand’s Contact Energy has contracted
Plimmerton-based consulting firm
Roaring40s to develop a pipeline of large-scale
wind farms in New Zealand.
Roaring40s will bring their wind expertise
and add it to Contact’s existing expertise in
geothermal and hydropower, to develop an
unspecified pipeline of large-scale wind farms
over the next six years. mechanisms supported by the ASEAN WIND
“If you are looking to identify and develop Catalytic Green Finance Facility (ACGF) can
wind projects then you want to involve the play a key role in catalyzing much-needed China plans ‘world first’
Roaring40s team, and it’s a real coup to have funds from private capital to boost a green,
them join the Contact extended whanau sustainable economic recovery in the region, floating fish and wind farm
[family],” said Mike Fuge, Contact Energy with infrastructure that is environmentally
CEO. “We’re very pleased to have their nous, sustainable, low-carbon, climate-resilient, and linkup
credibility and experience on board and we meets the needs of local communities.
are excited about working together.” The ACGF is an ASEAN Infrastructure China’s biggest wind developer will build what
“This sends a strong signal that Contact Fund initiative managed by ADB’s Southeast is claimed to be the world’s first aquaculture
is serious about exploring high quality Asia Department Innovation Hub. It helps farm to be integrated with a floating wind
wind generation options to meet higher Southeast Asian governments prepare and power project, in another sign of growing
market demand scenarios and accelerated finance infrastructure projects promoting Chinese momentum behind floating
decarbonisation. environmental sustainability and contributing platforms – now officially part of the nation’s
“A pipeline of flexible and low-cost wind to climate change goals. long-term energy plans.
projects will complement our high quality, The ACGF provides ASEAN countries with Longyuan Power and the Xiuyu District
low-cost, baseload geothermal development access to more than $1.4bn in loans, along government in Fujian province sealed a
pipeline. As the economics around wind with technical assistance that strengthens the framework agreement to cooperate on an
technology continue to improve, wind options regulatory environment and scales up green offshore wind demonstrator near Nanri island,
will provide effective competition for our infrastructure investments. which will co-deploy floating turbines and
geothermal developments.” The ACGF finances sovereign deep-sea fish farming equipment.
The terms of the deal between Roaring40s projects that meet its published green Longyuan is a subsidiary of China Energy
and Contact are confidential, but it is not investment principles, combining climate Investment Corp (CEIC), the world’s largest
material from Contact’s perspective. It and environmental indicators, financial power producer and the biggest wind power
comprises a small, fixed retention fee and bankability indicators, and a roadmap for developer in terms of installed capacity.
project-by-project success fees. attracting private capital investments. CEIC wants to develop a technology
Formed in 2018 to provide consultancy The Association of Southeast Asian solution capable of combining wind
services to companies and organisations Nations (ASEAN) Catalytic Green Finance generation and fish farming at scale in deep
wanting to develop wind power projects, Facility (ACGF) was launched in April 2019 waters in the coming five years, the group
Roaring40s Wind Power boasts significant to promote green infrastructure investments said. Longyuan has finished an initial design
expertise in the New Zealand wind generation in Southeast Asia. Currently in its three- of the project, and construction is scheduled
industry. year pilot phase, the ACGF is an initiative of to complete by the end of next year.
CONTACT ENERGY the ASEAN Infrastructure Fund, a regional The Nanri project was granted approval
financing vehicle created by ASEAN member as early as 2015. The high construction cost
states and the Asian Development Bank of installing rock-socketed piles due to the
INVESTMENT (ADB) to support infrastructure development challenging seabed conditions off Fujian’s
in Southeast Asia. shore has prompted the firm to look into
ASEAN Catalytic Green facility focused on developing and increasing floating solutions.
The ACGF is the only green finance
Longyuan’s Nanri demonstrator is China’s
Finance Facility to boost climate-positive projects that is owned by the latest bid to combine offshore wind and fish
governments of a regional bloc, in this case
farming, with co-deployments between fixed-
private investment in Asian the 10 ASEAN member countries (Brunei bottom turbines and aquaculture planned
elsewhere in the nation.
Darussalam, Cambodia, Indonesia, Lao
power People’s Democratic Republic, Malaysia, in 2019 plans for the country’s first offshore
Before Longyuan’s move, CTG announced
Myanmar, Philippines, Singapore, Thailand,
Southeast Asia faces an infrastructure Viet Nam) and ADB. ADB also manages the wind project integrated with fish farming
investment shortfall of more than $100bn facility. at Laizhou bay in seafood-centric province
a year, which may have worsened amid the ADB Shandong.
COVID-19 pandemic. Innovative finance Two other utilities, China General Nuclear

Week 12 •24 March•2021 www. NEWSBASE .com P13