What people are talking about
Taiwan to auction 3GW of offshore wind projects in August 2022 with an aim to select preferred bidders by December with grid connection for 2026/2027. Developers have submitted 11 proposals for 8GW capability so far.
South Korea’s MOTIE launched its RE100 system to allow electricity consumers to enter into PPAs and use electricity from renewable energy sources; it also launched its first Green Pricing Auction; and it extended REC purchase ability to all Korean electricity consumers, not just large-scale power producers.
Fortescue Metals plans to develop a 5.4GW Uaroo Renewable Energy Hub, including wind, solar, and battery storage, to power its iron ore operations in the Pilbara in Australia. This supports Fortescue’s goals to develop 235GW of renewable energy and a green hydrogen business.
Suzlon’s board approved a new debt facility and refinancing of Rs. 4,359 Crores of debt (circa $446M USD) as well as re-appointed Tulsi Tanti as Managing Director of Suzlon Group.
Brookfield Asset Management raises 5th flagship infrastructure fund, targeting USD 25B and the largest infrastructure fundraise to date.
Shell Energy Operations will acquire 49% of Australia-based WestWind Energy Development with a 3GW pipeline.
Japan Wind Development (JWD) submits EIA for 3GW offshore wind project off Hokkaido.
What we are currently working on
For the full job descriptions regarding the roles below, please contact us.
Business Developer, C&I Solar, South Korea
Pre-Sales Consultant, ETRM, APAC
Commercial Acquisitions Manager, Solar, South Korea
Investment Manager, Renewable Energy, SEA and North Asia
Development Manager, Solar, South Korea
Product Solutions Integration Manager, Smart Energy Management, ANZ
International Women’s Day
Next week marks International Women’s Day and the theme for 2022 is #BreakTheBias with the following mission:
“Imagine a gender-equal world. A world free of bias, stereotypes, and discrimination. A world that is diverse, equitable, and inclusive. A world where difference is valued and celebrated. Together we can forge women’s equality. Collectively we can all #BreakTheBias.”
In renewables recruitment, there are many laws in place meant to help prevent bias during hiring. For example, many countries do not allow employers to inquire about marital status, familial statuses such as whether the candidate has children or elderly parents to care for, age, religion, country of origin, or disability status. However, there are few laws in place to dictate gender-equal salaries, bonuses, and long-term incentive packages (LTIP).
In October 2021, Aurex Group’s hiring solutions team published a study done in conjunction with the Asian Association for Investors in Non-Listed Real Estate (ANREV). Through a survey, participants were asked to contribute data concerning basic salaries, annualised bonuses (2020 vs 2019), LTIP received and awards, health cover, and annual leave entitlements. These have been segmented by location, platform type, seniority, and gender for analysis.
There were some clear trends in the differences between male and female pay across the region. For example, basic pay for women across all levels of seniority trailed male basic pay by -7%. While at Analyst and Senior Analyst level, women earned slightly more than men at +1% and +2% respectively, the biggest gap occurred at SVP level at -15%.
While -15% may seem like a big number, the difference was even starker for women when it came to bonuses with women at SVP level earning -35% versus their male counterparts at the same level, and women at all levels earning an average of -17% versus their male counterparts.
Not to be outdone, the LTIP category showed women trailing at an average of -30% at all levels of seniority with the greatest gap occurring at Senior Associate level (-58.3%) and never catching up to their male counterparts even as women progressed in seniority. Even at CEO level, women tend to make -39% in LTIP versus their male counterparts.
To read more about the trends we discovered, you can receive a copy of our full ANREV report, please reach out to us directly.
“A world that is diverse, equitable, and inclusive.”
While labor tends to be one of the biggest costs of operating a business and it is natural for businesses to try to keep operating costs low, I would encourage those in decision-making roles to make a conscious effort to consider equitable pay. Even if a female interviewee does not ask about LTIP, make it part of the offer for the sake of equality. Even if she is willing to accept a lower bonus percentage than the male candidates interviewed, offer what you would have offered them.
And then, follow up. Give the women in your organization assignments as challenging as those given to the men so that they can earn those bonuses, LTIP, and promotion. Be aware of unconscious bias in the workplace such as giving men career-advancing tasks while giving women “housekeeping” tasks (think: ordering office snacks, planning parties, decorating the office for the holidays, being designated as the note-taker during meetings because of nice handwriting versus being given an active role in leading the meeting).
“Collectively we can all #BreakTheBias”
So, if you have not planned anything yet for International Women’s Day, maybe consider taking an hour or so of your day to think about where conscious or unconscious bias may exist in your organization and what actions you as an individual can take to make an impact.
We always look forward to keeping in touch and exchanging ideas, insights, and opinions. If you are a company considering hiring renewable energy, 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 our renewable energy recruitment capabilities and executive search solutions.
Consultant, Power Generation, Asia
Aurex Singapore Pte Ltd
+65 9424 0023
12 Marina View, #11-01 Asia Square Tower 2, Singapore 018961
EA 18S9493 | R1878463