Southeast Asia offers opportunities to increase renewable energy, the CEO said

Singapore-Southeast Asia is undergoing a power transition, according to the Philippine-based power company, which has the potential to grow renewables in the region.

AC Energy John Eric Erik Francis says, “After focusing on renewable energy sources in 2016, it has seen significant growth.” We are clearly seeing renewable energy.

AC Energy has a renewable capacity of 2,100 megawatts and aims to increase that to 5,000 megawatts by 2025, he said. The company, which operates in the Philippines, Vietnam, Indonesia, India and Australia, says it accounts for about 80% of renewable energy sources.

Acknowledging that the transition will be gradual, he told CNBC’s “Road Signs Asia” that recent events have shown potential in renewable opportunities.

“Everything in the world, such as fossil fuels, and the resurgence of interest in different markets, I think we have a great opportunity to really grow renewables,” he said. Tuesday.

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Europe is in the grip of an energy crisis, with some countries finding it difficult to meet their energy needs.

Britain has burned down an old coal-fired power plant to generate more electricity, and experts say green EU demand could be hit by high gas prices.

But AC Energy France says renewable energy, combined with battery storage technology, could solve the problem in the coming years.

He said energy sources, such as wind or solar, are a vital component and stimulant battery storage because of their repetitive and renewable properties.

With the help of the electric vehicle sector, battery storage is improving and becoming more competitive. He predicts he will be ready in three to five years.

He said countries should now plan to transition to clean energy and use other fuels to meet renewable energy needs.

– CNBC’s Sam Meredith and Sylvia Amaro contributed to this report.

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