Renewable Energy Accounts for Half of Power Projects in Southeast Asia

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Researched by Industrial Info Resources East Asia (Kofu-shi, Japan)--Though Southeast Asia still relies heavily on thermal power, renewable energy is leveling the playing field. Of the more than 570 power projects currently tracked by Industrial Info throughout the region, approximately half consist of renewable energy projects, representing about $59 billion in investments.

Less than 15% are currently under construction, with another 8% preparing for starts during the next quarter. The bulk of Southeast Asia's renewable energy projects appear to be starting next year, with approximately $14 billion worth of hydro, wind, solar and geothermal projects, among other types of renewables, on the books.

The Philippines is one of the most renewables-active Southeast Asian countries, and it is also one of the most diverse in terms of projects. Approximately $17 billion in projects are being tracked, though growth in this particular power sector does not seem to be letting up. Though hydropower projects account for the majority of renewables activity, wind, solar and geothermal power are on the rise. The Philippines renewable energy program's ultimate goal is a grid 100% supported by renewable energy. Plentiful sites and strong feed-in tariffs have made the Philippines a solid wind power investment, with wind projects accounting for approximately a quarter of the country's tracked power projects. Geothermal capacity also continues to rise, and the Philippines has the largest geothermal capacity behind the United States.

Indonesia, while less diverse, is also pushing renewable energy and power growth. Within 15 years, the country aims to have a geothermal capacity of approximately 10 gigawatts, with $6.6 billion worth in projects currently on the books, according to Industrial Info. Geothermal power and hydropower, which currently account for $3.9 billion of renewables investments, are both keys to expanding the country's grid. Indonesia hopes to provide at least 90% of its residents with electricity by 2020.

Vietnam is pushing renewables growth as well, though it appears to be one of the only mainland Southeast Asian countries to be investing in wind power. At least three are scheduled to begin next year, including a 200-megawatt (MW) project in the coastal area east of Ho Chi Minh. Other major projects starting soon include another windfarm in the same coastal area, as well as a 100-MW expansion for Song Bung II hydropower station in Quang Nam.

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