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Aurex Insights: APAC Renewables – Dec 2021

Welcome to Aurex Group's Asia monthly snapshot for the Renewable Energy industry where we highlight some of the factors and events influencing the industry for talent and businesses. In this issue, we discuss the 26th United Nations Climate Change conference and the Glasgow Climate Pact that resulted from this.

What people are talking about

EDPR becomes the majority shareholder in Sunseap; plans 2.2GW floating solar in Batam, Indonesia with interconnection to Singapore to power data centers.

Shell and CoensHexicon create JV called MunmuBaram for 1.4GW floating offshore wind in Korea.

Itochu, Kyuden Mirai Energy, and Tokyo Land launch JV for 50MW biomass power plant in Aichi prefecture, Japan, expected to be operational by 2025.

NSW approved an energy amendment bill that allows stand-alone power systems that are owned by energy distributors such as off-grid batteries to sell power.

Australia’s Star of the South, the country’s first offshore wind farm, received nearly 20M AUD from the government of Victoria to co-fund pre-construction activities for the 2.2GW power plant.

Enel plans to trip total renewable energy capacity to 154GW by 2030; go net-zero by 2040.

In Taiwan, CIP has raised USD 1.62B for the 298MW Zong Neng wind farm while Northland Power and Yushan Energy will likely start debt financing for the 300MW Hai Long 2a project in December.

Italian oil major Eni plans to IPO subsidiary Eni Plenitude, a recently merged business grouping all activities for renewables, retail sales, EV charging networks, and e-mobility.

What we are currently working on

For the full job descriptions regarding the roles below, please contact us directly. 

  • Lead Engineer, Wind & Solar, South Korea

  • Legal Counsel, Renewable Energy, South Korea

  • Contract Manager, Wind & Solar, South Korea

  • Contracts Engineer-1, Hydropower, Pakistan

  • Commercial Manager, Solar, South Korea

  • Junior Development Manager, Solar, Taiwan

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Missed COP26? 

COP26 was the 26th United Nations Climate Change conference and was held in Glasgow this year from October 31st to November 13th. Participants include those who are party to the United Nations Framework Convention on Climate Change, party to the 2015 Paris Agreement and parties to the Kyoto Protocol. In all, 20,000+ representatives for 197 entities attended.

The result of the conference was the Glasgow Climate Pact which reaffirms the Paris Agreement goal of “holding the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5 °C above pre-industrial levels” and is the first climate agreement to explicitly reduce coal usage. 

Originally, the wording read “phase out” coal, but due to negotiations led by India and China, the wording was changed to “phase down” coal before signing. It specifically focuses on “unabated” coal usage which means coal emissions are not neutralized through carbon capture or storage processes. Globally, coal still produces 37% of the world’s electricity.

The conference also resulted in the following pledges:

  • 140 countries pledged to reach net-zero emissions which will cover 90% of greenhouse gas emissions.

  • 100+ countries pledged to reverse deforestation by 2030, notably Brazil.

  • 100+ countries signed the Global Methane Pledge to reduce emissions by 30% collectively.

  • 40+ countries pledged to shift away from coal, including major users such as Vietnam.

  • 25+ countries and financial institutions pledged to end public financing for unabated fossil fuel projects including coal, oil, and natural gas abroad by 2022.

  • 23 countries committed to fully ending coal-fired power plants.

  • 20+ countries and a group of major car manufacturers such as GM, Ford, Volvo, BYD Auto, Jaguar Land Rover, and Mercedes-Benz have committed to “work towards all sales of new cars and vans being zero-emission globally by 2040, and by no later than 2035 in leading markets.”

  • 11 national and subnational governments (such as the state of California, USA) committed to transition away from oil & gas.

  • 1 India committed to drawing half of its energy from renewables by 2030 and to achieving carbon neutrality by 2070.

While many climate activists argue that these measures do not go far enough and that these commitments put us on a path to raise global temperatures by 2.7 degrees C by 2100, it is great to see so many firm pledges at hand and that jobs in renewable energy will continue to be in high demand for decades to come.

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Market Moves

  • Carsten Bovenschen has left his role of Chief Financial Officer at AKASOL (a leading battery manufacturer), to join juwi as the new Chief Executive Officer.

  • Richard Luijendijk has changed roles with Siemens Gamesa from the Head of Global Projects, Onshore to Head of Global Projects Onshore and CEO region APAC.

  • Paul Jeong has left Enel Green Power, where he was a Business Developer. He has now joined Glennmont Partners as the Head of Renewable Investments, Korea.

  • Jay Mariyappan has become a Partner at Evolution Environmental Asset Management. He was previously at Petronas as the Head of New Energy.

  • Scott Hsu has moved roles within K2 Management, previously he was the Business Development Manager, Taiwan, and is now the new Country Manager, Taiwan & Philippines.

  • Dongwoo Hong has moved into the role of Director, Future and Global Growth Strategy at TopInfra. He was previously at Peak Energy as a Business Developer, APAC.

  • Young Kil Hur has left Hyundai Engineering where he held the title of Manager, Investment and Development. He has now joined TotalEnergies as the Senior Business Developer, Renewables.

  • Bui Vinh Trang has joined Ecoplexus as their new Senior Business Development Manager. He previously held the role of Head of Government and Corporate Relationships, Vietnam at Mainstream Renewable Power.

  • Rene Lim has left GE Power where he was a Project Manager, CCPP. He is now a Project Manager, Yunlin Wind Farm for Deutesche Windtechnik.

  • Sung-Won Yoo has moved into a new role at Ocean Winds as a Permitting & Project Manager. Previously, he was a Wind developer & Contract Manager at Dongkuk E&C.

  • Benjamin (Euiseop) Lee has left Canadian Solar, where he was a Business Developer, to join SolarConnect in a similar capacity as the Business Development Manager.

  • Wonseon Lee has moved into a new role at Enel Green Power as a Project Engineer, Wind. He was previously at K2 Management as a Senior Consultant, Wind.

  • JungJe (Jayden) Jo has left Sungrow Power Supply Co, where he was a Technical Manager, to join K2 Management as an Electrical Engineer.

We always look forward to keeping in touch and exchanging ideas, insights, and opinions. If you are a company considering hiring, we welcome the opportunity to present our services and capabilities. If you are a candidate, please check our jobs page or reach out to us to discuss your background, skills, and future aspirations.

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Amy Marietta 
Consultant, Power Generation, Asia 

Aurex Singapore Pte Ltd 

amy.marietta@aurexgroup.com 

+65 9424 0023 

12 Marina View, #11-01 Asia Square Tower 2, Singapore 018961 

EA 18S9493 | R1878463