SIEW Launch Live Blog
SIEW 2018 Global Launch LIVE
Seen at the SIEW 2018 Global Launch
Three things we learned about ASEAN's energy future
“Global GDP will be boosted by 0.8% in 2050 and jobs in renewables will reach 26 million from around 10 million today”: Mr Adnan Amin, IRENA
SIEW 2018: “Transforming Energy: Invest, Innovate, Integrate” – 29 Oct to 2 Nov
SIEW 2018 Global Launch LIVE
Welcome to the SIEW 2018 Global Launch!
Seen at the SIEW 2018 Global Launch
6.00 PM
Thank you for joining us at the Global Launch of SIEW 2018, where IRENA’s Mr Adnan Amin and ACE’s Dr Sanjayan Velautham started this year’s discussions on the latest transformations in the energy landscape.
On top of the stellar line-up of energy leaders and events, we look forward to hosting long-standing partner conferences – Asia Clean Energy Summit, Gas Asia Summit and the Asian Downstream Summit.
As we prepare for a very exciting SIEW 2018, stay on top of SIEW news and updates right here at SIEW.sg and follow us on Facebook, Twitter and LinkedIn.
SIEW 2018 will take place from 29 October to 2 November 2018 at Marina Bay Sands.
Three things we learned about ASEAN's energy future
05.00 PM
A lively exchange between Mr Adnan Amin, Director-General of the International Renewable Energy Agency (IRENA), and Dr Sanjayan Velautham, Executive Director of the ASEAN Centre for Energy (ACE), shed light on energy interconnectivity, renewables investment and the future of coal in the region.
Is there a future for coal in ASEAN?
ASEAN is committed to renewables, said Dr Velautham, but also needs to consider the security of energy supply, affordability and other economic factors.
Dr. Sanjayan Velautham, @ASEAN_Energy: in #ASEAN, we are transitioning off a carbon intensive production of #energy. This affects job markets, other industries, the established supply chains. We need to understand the risks, costs and benefits in their totality. #SIEW2018
— SingaporeEnergyWeek (@SIEW_sg) March 27, 2018
Mr Amin took a more emphatic stand, stating that stakeholders who keep up with energy developments would not invest in coal.
“Fundamentally, there is no future for coal,” he said.
Where will renewable energy investments in ASEAN come from?
Renewables have a strong business case, said Mr Amin.
He cited that China had installed 53GW of solar, more than the total installed solar capacity of the U.S., in one year. This was done at a levelised cost of electricity of just over 5 cents per kilowatt hour, which is “very close” to the cost of coal.
With renewable technologies increasingly mature and affordable, policy and regulatory frameworks are key to providing security to investors and unlocking the necessary financing.
“It's policy and regulation and providing security to investment that makes the biggest impact in terms of reducing cost”. Watch @CNBCi’s @cnbcSri with @IRENA’s Adnan Amin and @ASEAN_Energy’s Dr. Sanjayan Velautham at the #SIEW2018 panel discussion https://t.co/hXjuPabMgg pic.twitter.com/xzsCLoFqYD
— CNBC Int'l PR (@cnbcipr) March 27, 2018
“This is why it’s important that SIEW is in Singapore because Singapore is the innovative finance hub of ASEAN,” said Mr Amin. “This is where the knowledge and capacity exists to create investment mechanisms to lead us to a positive energy future.”
When can we expect a fully connected ASEAN energy grid?
ASEAN has been making “comfortable” progress on the ASEAN Power Grid (APG) since 1997, said Dr Velautham.
To date, eight of the 16 bilateral power interconnection projects for the APG have been completed, with a total of 5,200 MW in power exchange. More significantly, APG’s first multilateral project, between Thailand, Malaysia and Laos, has also been completed, commencing on 1 January this year.
This landmark will pave the way for better understanding on how to structure multilateral frameworks for more flexibility and integration. Studies on this are currently ongoing at ACE and will be presented at the next round of ministerial meetings in 2019, said Dr Velautham.
“Global GDP will be boosted by 0.8% in 2050 and jobs in renewables will reach 26 million from around 10 million today”: Mr Adnan Amin, IRENA
3.45 PM
In his keynote address, Mr Adnan Amin, Director-General of the International Renewable Energy Agency (IRENA), spoke of the growth of renewables in ASEAN, and how increasing deployment can play an important role in reconciling social, environmental and climate concerns with the economic growth and development of the region.
IRENA projects that already lowered costs of renewable energy will continue even further, and that “all currently commercially available renewable power generation technologies will be competitive with conventional fuels by 2020”.
This is further fuelled by technological advancement and innovation in digitalisation, big data and artificial intelligence (AI).
Mr Adnan Amin, Director-General, @IRENA: "All currently commercially available #renewable power generation technologies will be competitive with conventional #fuels by 2020". #SIEW2018
— SingaporeEnergyWeek (@SIEW_sg) March 27, 2018
While climate change remains an important driver to achieve sustainable development goals, the energy transition will also have a positive impact on GDP and employment. “We estimate that global GDP will be boosted by 0.8 percent in 2050 and jobs in renewables will reach 26 million from around 10 million today,” says Mr Amin.
Decision-makers across ASEAN have set a target of reaching 23 percent renewable energy in the region’s energy mix by 2025, and IRENA is ready to support these efforts across the region. A key development will be a Memorandum of Understanding in support of the ASEAN Plan of Action for Energy Cooperation 2016-2025, institutionalising regular high-level meetings between IRENA and ASEAN, and developing an Action Plan to accelerate renewables deployment in the region.
Collaboration is key, and so is investment. To accelerate deployment, Mr Amin says that the region will need to prioritise efforts to catalyse private investment, focus on project readiness and attractiveness, improve access to capital at the local level and mitigate investment risks.
This goes hand-in-hand with innovations in setting up enabling policies, new business models and market regulations. As well as ensuring energy resilience in the region through decentralised renewable energy systems.
For more updates on renewable energy, the fourth edition of the International Off-Grid Renewable Energy Conference (IOREC) by IRENA will be at the Asia Clean Energy Summit at SIEW this year.
SIEW 2018: “Transforming Energy: Invest, Innovate, Integrate” – 29 Oct to 2 Nov
3.15 PM
This year SIEW will focus on “Transforming Energy: Invest, Innovate, Integrate”.
The deployment and integration of new technologies, and the growth in energy demand are transforming the energy landscape.
To facilitate this transition, it is important to address capital market barriers and foster an enabling environment for infrastructure investment. Policymakers, investors and industry leaders must ride this wave of opportunity to invest, innovate and integrate energy systems for a more resilient energy future.
For the first time this year, SIEW will also be held together with the 36th ASEAN Ministers on Energy Meeting (AMEM). This will enable ASEAN to further engage with global energy players at all the events across SIEW week. Find out more here and take a sneak peek at our programme for 2018 here.SIEW 2018 Global Launch LIVE
Welcome to the SIEW 2018 Global Launch!
2.45 PM
We’re at Marina Bay Sands and ready for the Global Launch of Singapore International Energy Week (SIEW) 2018.
Drop by the SIEW Live studio to share your thoughts on SIEW 2018.
Today we’re excited to have Mr Adnan Amin, Director-General of the International Renewable Energy Agency (IRENA), delivering the keynote address. He will also be joined by Dr Sanjayan Velautham, Executive Director of the ASEAN Centre for Energy (ACE), for a panel discussion on new opportunities and challenges in the energy landscape.
If you can’t be with us today, catch us live on Facebook from 3.00pm as we reveal what’s in store for SIEW 2018.
Stay tuned for live updates from this afternoon’s event right here and on Twitter @SIEW_sg.
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