RENEWABLES

Narsingh Chaudhary Executive Vice President & Managing Director , Asia-Pacific , Black & Veatch

One study from Sumitomo Mitsui Banking Corporation ( SMBC ) and Economist Impact , suggests that countries in APAC need to address the funding gap for renewable energy projects , while a Black & Veatch report says more integration of generation , transmission and distribution technologies is required to balance electric grids , enhance energy security and reach decarbonisation goals .

The SMBC study of 450 executives across nine countries in Asia-Pacific examined how the public and private sectors are driving the transition to a net-zero future , as well as the significant challenges facing the energy transition . While the majority of countries in the Asia-Pacific region have some form of renewable energy national policy , most often for specific renewable energy sources , the study reveals that they largely lack a comprehensive and credible transition plan . “ ESG considerations have only grown more prominent in recent times , driven by the energy crisis , geopolitical tensions , and rapid climate change ,” says Rajeev Kannan , Co-Head of Asia Pacific Division , SMBC .

“ The findings shed light on how we may advance this transition by tailoring access to finance , technology innovation and ecosystem collaboration , to name a few solutions .”

Approximately half of survey respondents said they believed that over the next five years there would be “ more investment ” in gas or LNG-to-power facilities combined with carbon capture , while 46 % believed gas-fired generation would remain an important part of the energy mix beyond 2035 .

Narsingh Chaudhary , Executive Vice President & Managing Director , Asia-Pacific , Black & Veatch , shares his views on the report and the APAC renewables landscape with Energy Magazine . sustainabilitymag . com 53