Page 8 - AsiaElec Week 03 2023
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AsiaElec COMMENTARY AsiaElec
working to meet and even exceed the goals of its rest of these projects end up, stressed the report.
latest Five-Year Plan. International trade is a vital part of the energy
Meanwhile, clean energy project developers transition. Nearly 60% of solar PV modules pro-
and investors are watching closely for the policies duced worldwide are traded across borders.
that can give them a competitive edge. Relatively Trade is also important for EV batteries and
short lead times of around 1-3 years on average wind turbine components, despite their bulk-
to bring manufacturing facilities online mean iness, with China being the main net exporter.
that the project pipeline can expand rapidly in The report also highlights the specific chal-
an environment that is conducive to investment. lenges related to the critical minerals needed for
Only 25% of the announced manufacturing pro- many clean energy technologies, noting the long
jects globally for solar PV are under construction lead times for developing new mines and the
or beginning construction imminently, accord- need for strong environmental, social and gov-
ing to the report. The number is around 35% for ernance standards. Given the uneven geographic
EV batteries and less than 10% for electrolysers. distribution of critical mineral resources, inter-
Government policies and market develop- national collaboration and strategic partnerships
ments can have a significant effect on where the will be crucial for ensuring security of supply.
P8 www. NEWSBASE .com Week 03 17•January•2023
