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Overview of Southeast Asian Photovoltaic Market Trends

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The Philippine government plans to double its power generation capacity by 2030 and increase its emission reduction target to 75%; Vietnam Zhongnan Group sells its 49% stake in a photovoltaic power station; Intel Malaysia factory uses solar energy to power six buildings.

Philippines

According to GlobalData, the power generation in the Philippines is expected to more than triple by 2030.

The annual electricity consumption in the Philippines is expected to grow at a compound annual growth rate of 5.8%, from 82.5 TWh in 2020 to 145.1 TWh in 2030. In order to meet the growing power demand, the Philippine government plans to increase its total installed capacity from 27.6GW in 2020 to 58.4GW in 2030. Analysis shows that because the Philippine government has no nuclear power development plan and the potential for hydropower development is limited, it is expected that most of the installed capacity will come from thermal power and renewable energy (excluding hydropower). Among them, the capacity of coal-fired power stations is planned to increase from 18.4GW in 2020 to 30.7GW in 2030, and the power generation from renewable energy sources will increase from 5.3GW in 2020 to 22.2GW in 2030.

In addition, the Philippines also raised its 2030 emission reduction target to 75%. According to its commitment to the Paris Agreement, this target is higher than the 70% target set four years ago. The "Paris Agreement" stipulates that 72.29% of the target is conditional on climate finance, technology and capacity development support provided by developed countries, and the remaining 2.71% of the target needs to be completed by relying on domestic resources in the Philippines.

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Vietnam

Trungnam Group has sold its 49% stake in a photovoltaic power station.

It is understood that the group is located in the capital of Ho Chi Minh City and has a wide range of real estate, infrastructure and energy fields. Three years ago, the group started operating a 204 MW photovoltaic power plant in Ninh Thuan Province, Vietnam, worth 5 trillion VND (217.6 million US dollars). This power station has 700,000 solar panels and produces 450 million KWh a year.

The group has sold a 49% stake in this solar power station to a power equipment manufacturer called A Chau Industrial Technology. But the group did not disclose the sales price. It is reported that A Chau Industrial Technology has shown a strong interest in photovoltaics in recent years and currently has five solar power stations in Vietnam.

Thailand

Namiki Precision (Thailand) signed a PPA for photovoltaic rooftops with Constant Energy and Natural Power Co., Ltd.

Constant Energy and its Japanese partner Shizen Energy announced that they have signed a power purchase agreement with Namiki Precision Thailand for an enterprise photovoltaic rooftop project with an installed capacity of 1.3 MW. The project is expected to start operations in the third quarter of this year.

Thailand's world's largest floating body hydro-light complementary power generation project is about to be completed

Thailand is building a floating body water and light complementary project to promote the development of sustainable energy power generation. The power station is located on a reservoir in Ubon Ratchathani Province in northeastern Thailand. It covers an area of 300 acres (121 hectares) and is equipped with approximately 144,417 solar panels. The National Power Authority of Thailand stated that this pilot project is one of the world's largest floating body hydro-light complementary power generation projects, and plans to build eight similar power stations in the next 16 years.

Malaysia

Intel Malaysia announced that it will use solar energy to power the company's six buildings in Kulim and Penang. The renewable energy developer NEFIN undertook the construction of the project, with a total installed capacity of 4.1 MW. This project is Intel's largest photovoltaic power plant outside the United States. Since the start of the project in 2020, the power station has contributed 15% of Intel’s global photovoltaic power generation and will reduce carbon emissions by approximately 3,800 tons.


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