RENEWABLES
“ ONE KEY CHALLENGE ASIA FACES IS BALANCING AFFORDABILITY AND ENERGY SECURITY WHILE ACCOMMODATING MORE VARIABLE RENEWABLE ENERGY GENERATION TO MEET ITS DECARBONISATION COMMITMENTS ”
NARSINGH CHAUDHARY EXECUTIVE VICE PRESIDENT & MANAGING DIRECTOR , ASIA-PACIFIC , BLACK & VEATCH
What are the key challenges the region faces when it comes to electricity ? One key challenge Asia faces is balancing affordability and energy security while accommodating more variable renewable energy generation to meet its decarbonisation commitments . Another key challenge is the unprecedented increase in prices of liquified natural gas ( LNG ) and natural gas , due to ongoing geopolitical issues , which have impacted several new project developments .
From utility to utility , geography or location is also a significant factor determining relative access to renewable or other fuel sources and ability to connect and provide stable and affordable electricity supply . Regardless , strategic planning and prioritization of investments are key in steering decision-making over five , ten and 20-plus year time horizons if they are to balance affordability , security and decarbonization goals .
In view of these factors , Asia will have to find smart ways to address such unprecedented challenges on fuel price , while coping with the rapid growth in electricity demand as well as increasing risks from climate change impacts .
Is there more detailed variation between different countries in Asia ? Which ones have the best infrastructure , etc ?
Developed and developing Asian economies have varied power infrastructure to support their diverse energy requirements . It is unfair to draw comparisons as the circumstances that have shaped their energy systems vary based on factors as broad as geography , access to energy resources and economic maturity .
Traditionally , countries with limited access to fossil fuels like Japan or Singapore have focused investments on securing energy supply while other countries have sought to maximise their in-country resources through coal power or hydropower development .
56 November 2022