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Mounting Environmental Concerns and Rising Oil Prices Drive the Development of the Southeast Asian Renewable Energy Markets - Rising oil prices and the urgent need to reduce greenhouse gas (GHG) emissions are ensuring the development of the Southeast Asian renewable energy markets
Mounting Environmental Concerns and Rising Oil Prices Drive the Development of the Southeast Asian Renewable Energy Markets

 

NewswireToday - /newswire/ - Singapore, Singapore, 2008/03/27 - Rising oil prices and the urgent need to reduce greenhouse gas (GHG) emissions are ensuring the development of the Southeast Asian renewable energy markets.

   
 
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Continued exploration of potential sites and a growing number of project proposals underline the sustained interest of industry stakeholders in the region's renewable energy markets. Its positive impact on the environment, combined with substantial untapped potential, will provide lucrative opportunities for local and multinational companies across the value chain.

New analysis from Frost & Sullivan (energyandpower.frost.com), Southeast Asian Renewable Energy Markets, finds that the market earned revenues of $1.90 billion in 2007 and estimates this to reach $4.31 billion in 2014.

"Growing environmental awareness among the public, the need to increase rural electrification ratio, and preference for captive power generation are paving way for the rapid development of renewable energy in the Southeast Asian region," notes Frost & Sullivan Industry Analyst Suchitra Sriram. "This is further supported by the enormous availability of natural resources and favorable renewable energy policies being introduced by governments in the region."

Continuing with government policies, individual nations in the Southeast Asian region have fixed renewable energy targets that are to be achieved in a specified timeframe. For instance, in the 9th Malaysia Plan, the government has increased the target for renewable energy to 30.0 percent or 350 MW by 2010. In Thailand, the landmark Very Small Power Producer (VSPP) legislation was revised in 2006 to include additional privileges for small power producers. The VSPP regulation allows for net metering arrangements and established streamlined interconnection process to minimize VSPP connecting costs.

However, the lack of adequate financing options is thwarting the development of the Southeast Asian renewable energy markets. Banks and financial institutions in the region are usually reluctant to finance renewable energy projects, as their viability is yet to be proven. For instance, in Malaysia, there is very little commercial financing of projects from any nationalized or foreign banks.

"Another significant reason for the slow investments in renewable energy technologies is the very high up-front capital costs, with a minimum gestation period of 10 to 15 years," says Sriram. "As investment costs are very high, project development takes a backseat for a number of prospective clients, especially the small and medium enterprises."

Going forward, it is important to guide the stakeholders by informing them on new product development and availability of potential sites through periodical information dissemination, demonstration of projects, and organization of seminars. Liberal and transparent approval procedures and attractive feed-in-tariffs would encourage the entry of new industry participants across the value chain to propose and execute challenging renewable energy projects.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Southeast Asian renewable energy markets, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

Southeast Asian Renewable Energy Markets is part of the Energy & Power Growth Partnership Service program, which also includes research in the following markets: European Renewable Energy Markets, Latin American Renewable Energy Markets, ANZ Renewable Energy Markets, and Chinese Renewable Energy Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting, and Career Best Practices empower clients to create a growth focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 30 offices on six continents.

Southeast Asian Renewable Energy Markets P0C3

 
 
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Mounting Environmental Concerns and Rising Oil Prices Drive the Development of the Southeast Asian Renewable Energy Markets

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Frost & Sullivan |
Publisher Contact: Donna Jeremiah 
+603 6304 5832 djeremiah[.]frost.com
 
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