Page 12 - AsiaElec Week 35

AsiaElec NEWS IN BRIEF AsiaElec

POLICY Yulin wind farm project, which is due to will witness strong growth in decentralisation
begin commercial operations in third-quarter during the decade, with annual global
Thailand’s EGCO Group next year. The project is currently just under investment increasing from $53.14bn in 2019
halfway complete, according to EGCO Group.
to $92.54bn in 2030. Pressure will continue
plans upstream, to build for further decarbonisation within
the power system as the rate of adoption
downstream expansions INVESTMENT of digital technologies increases in both
existing and future plants to boost operational
Taiwanese independent energy firm performance.”
Electricity Generating Public Company $3.40 trillion to be invested Krishnan added: “The surge in need
(EGCO Group) has announced it intends for flexibility is the most significant trend
to expand its upstream and downstream globally in renewable observed across developed markets. System
operations. operators are coming under increasing
EGCO’s strategy involves investments in energy by 2030 - Frost & pressure to manage the system with
related energy businesses, including fuels uncertain renewable output, declining coal
and infrastructure, and sustainable energy Sullivan output, and demand-side variability. As a
solutions. result, technologies and solutions such as
EGCO Group primarily operates as an Frost & Sullivan’s recent analysis, Growth battery energy storage systems (BESS), gas
electricity generator, with a portfolio of 28 Opportunities from Decarbonisation in engines, demand-side response (DSR), and
power plants with a combined capacity of the Global Power Market, 2019-2030, virtual power plants (VPP) are witnessing
approximately 5.5GW. These plants are fuelled reveals that the 2020s will be crucial for unprecedented adoption rates amongst
by natural gas, coals, biomass, hydro power, all the participants in the power industry utilities, solution providers, and end
solar power, wind power, geothermal power as the transition toward renewable energy consumers.”
and fuel cells. is expected to increase, while coal takes a FROST & SULLIVAN
While the company will keep electricity downturn in most developed markets.
generation at the core of its activities, EGCO Falling costs and renewable-friendly
Group president, Thepparat Theppitak, said energy policies adopted by several countries PERFORMANCE
that it is reviewing new investments that will in the six major geographies—North America,
support both its upstream and downstream Latin America, Europe, the Middle East, Indian electricity output
activities. China, and India—are prominent reasons why
“The focus area will be fuel infrastructure, solar photovoltaic (PV) and wind capacity falls for sixth straight
which is the upstream business that increase additions are expected to soar this decade.
value of our core business activity. Part of this An estimated $3.40 trillion will be invested month in August
fuel and other infrastructure is our petroleum in renewable energy during the next decade,
pipeline system extension in the northeast of including $2.72 trillion in wind and solar. India’s electricity generation fell for the
Thailand,” Theppitak said. By 2030, 54.1% of installed capacity will be sixth straight month in August, provisional
“Another area of interest is the Smart renewable (including hydropower), and 37.9% government data showed, driven by a slump
Energy Solution business as we aim to will be a combination of solar and wind. in power use in industrial western states such
become a provider of comprehensive energy “Decentralisation, decarbonisation, and as Maharashtra and Gujarat in the second half
innovation services.” digitalisation are the three key pillars of of the month, Reuter reported.
EGCO Group’s sustainable energy business the global energy transition,” said Vasanth August power generation fell 0.9%, a
was bolstered earlier this year after closing Krishnan, Senior Research Analyst, Industrial Reuters analysis of daily load despatch data
the acquisition of a 25% stake in the 640MW Practice, Frost & Sullivan. “The power sector from federal grid operator POSOCO showed,
slower than the 1.8% decline seen in July.
In the second half of August, electricity
generation declined 4.5%, compared with a
2.6% increase during the first fifteen days of
the month.
Power use during the second half of
August in states such as Maharashtra and
Gujarat, among the country’s largest electricity
consumers, declined by about 15% each,
compared to near parity compared to August
2019 during the first 15 days of the month.
Industries and offices account for half the
country’s annual electricity consumption.
Prime Minister Narendra Modi has been
citing electricity consumption data to suggest
emergence of “greenshoots” in the Indian
economy.
India’s factory activity grew in August for
the first time in five months as the easing of
lockdown restrictions spurred a rebound in
domestic demand. Still, economists expect
India to remain in a recessionary phase this

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