Page 14 - AsiaElec Week 14 2022

AsiaElec RENEWABLES AsiaElec

PTTEP unveils net-zero goal

THAILAND THAILAND’S state-owned PTT Exploration emissions – respectively direct emissions from
and Production (PTTEP) has joined the ranks of its operations and indirect emissions from the
oil and gas companies that have adopted a long- power generated to run its operations. PTTEP
term goal of net-zero greenhouse gas (GHG) has also set itself interim targets of cutting emis-
emissions. The company unveiled the goal at its sions by 30% by 2030 and 50% by 2040 from a
annual general meeting (AGM) for sharehold- base year of 2020.
ers on March 28, setting a deadline of 2050 for The new targets represent a stepping up of
reaching net zero. the Thai company’s ongoing efforts to manage
PTTEP said that initially projects with an its GHG emissions and diversify its production
emphasis on natural gas and GHG intensity mix. PTTEP had previously been aiming to cut
would be factored into its decision-making its emissions by at least 25% from a base year of
process under its plan for achieving net zero. At 2012 by 2030 through several initiatives.
the same time, it will pursue the development of PTTEP’s CEO, Montri Rawanchaikul, who
new technologies to reduce emissions from its took over in October 2021, said at the time that
production. In particular, the company high- he intended to strengthen the company’s core
lighted carbon capture and storage (CCS), and upstream business in Southeast Asia while seek-
its Zero Routine Flare initiative for new projects. ing to diversify into new energy opportunities.
It also said it would pursue emissions offsetting Montri said exploration activities in Southeast
through the planting of trees in forests and man- Asia would be accelerated with a focus on natu-
groves to increase the natural carbon sink. ral gas fields, and the latest announcements are
The 2050 target involves Scope 1 and 2 in line with this.™
Mitsui to invest in ReNew project

INDNIA JAPAN’S Mitsui & Co. is to invest in ReNew provides the lowest cost and emission-free 24/7
Power round-the-clock (RTC) renewable and renewable electricity. We are proud to partner
energy storage project in India. with Mitsui, a leading global conglomerate, to
The RTC project consists of three newly built support India’s green energy transition and look
wind farms and one solar plus battery storage forward to strengthening this partnership in the
farm across the states of Rajasthan, Karnataka future,” said Sumant Sinha, chairman and CEO
and Maharashtra, and will provide 400 MW of ReNew Power.
electricity to state-owned Solar Energy Corpo- “Through this project, Mitsui will acceler-
ration of India (SECI), ReNew Power said in a ate India’s clean energy transition together with
statement. ReNew, and contribute to the project’s successful
The project’s commercial operations are development by leveraging our extensive global
expected to start in the third calendar quarter experience in power project development, as
of 2023. ReNew, through its affiliates, will also well as our wide-ranging business network
undertake EPC, O&M and project management across industries. We look forward to expand-
for the round-the-clock project. ing Mitsui’s further collaboration with ReNew
Neither Mitsui or ReNew said how big the beyond this RTC project in India,” said Ryoichiro
investment would be. Uno, general manager in charge of infrastruc-
In 2021, ReNew Power signed a 400-MW ture projects in India, Middle East, and Africa
round-the-clock (RTC) power purchase agree- of Mitsui.
ment (PPA) to supply electricity to SECI. For the India is the third-largest emitter of green-
400-MW PPA, the company will install 1,300 house gases (GHGs) globally, but made com-
MW of renewable energy capacity and up to 100 mitments at the Glasgow COP26 summit in
MWh of battery storage. 2021 to reach 500 GW of non-fossil fuel-based
The 25-year PPA for the pilot RTC project installed capacity by 2030, and to source 50% of
set a price of INR2.90 (USc3.8) per kWh, which all its energy from renewables by then.
will increase by 3% annually for 15 years, after The RTC project will feed into this target and
which it will stabilise for remaining period of the support the Government of India’s policy of scal-
project. ing up the renewable energy sector as part of the
“The RTC project, the first of its kind in India, country’s historic clean energy transition.™

P14 www. NEWSBASE .com Week 14 06•April•2022