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Aurex Insights: APAC Renewables – May 2022

In May's edition of Aurex Insights: Renewable Energy APAC, we discuss 3 ways that we can make a positive impact on the planet everyday, as well as recent market moves and current opportunities.

What people are talking about

South Pole, a Swiss carbon project developer that holds Temasek, Salesforce Ventures, and now Swisscom as investors, reached unicorn status with a valuation of $1 billion without going public.

Proposals for Singapore’s Energy Market Authority’s RFP1 to import 1.2GW of low-carbon electricity were due April 14th. The second RFP will be issued in Q2 2022 for the remaining quantities of electricity imports required through 2035.

Enel Green Power to build a 76MW wind farm, allowing BHP to produce nickel with 100% renewable power and comply with Tesla’s requirement for suppliers to be carbon neutral.

ACWA Power issues a limited NTP for the EPC contract of the Neom Green Hydrogen project in Saudi Arabia which will consist of 4GW of renewable energy and 2GW capacity electrolyzers to produce 1.25mt/y of green hydrogen-to-ammonia that will be exported by Air Products.

SUSI Partners invests in SG-based Entoria Energy through its Asia Energy Transition Fund to build rooftop solar PV in Malaysia, Philippines, Thailand, and Vietnam.

SG-based Athena Energy raises USD 14M from responsibility Investments for carbon emission reduction projects in Vietnam and C&I Solar development.

What we are currently working on 

  • Associate Director, Project Finance, Infrastructure Development, Singapore 

  • Pre-sales Consultant, Energy Portfolio Management 

  • Business Developer, C&I, South Korea 

  • Smart Grid Sales Manager, Asia 

  • Carbon Project Developer, Remote from Asia 

  • Product Solutions Integration Manager, ANZ, Smart Energy Management 

  • Grid Connection Head, South Korea 

  • Head of Grid Connections, Taiwan 

  • Senior Project Manager, Solar, Taiwan 

  • Commercial Engineering Manager, South Korea 

  • Commercial Engineering Manager, Solar, Taiwan 

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Lights Out – Earth Day 2022 

Friday, April 22nd was Earth Day. Did you turn your lights, air conditioner/heater, and other electronics off for one hour in observation? If you missed it or forgot, there are still many ways you can make up for it because as we all know, there are choices we can make every day to have a positive impact on our planet. Here are 3 ways you can make up for it:

  1. Plogging. What in the world is plogging? Plogging is a combination of jogging with picking up litter (merging the Swedish verbs plocka upp (pick up) and jogga (jog) gives the new Swedish verb plogga, from which the word plogging derives). It started as an organized activity in Sweden around 2016 and spread to other countries in 2018, following increased concern about plastic pollution. As a workout, it provides variation in body movements by adding bending, squatting and stretching to the main action of running, hiking, or walking. An estimated 2,000,000 people plog daily in 100 countries and some plogging events have attracted over 3,000,000 participants.

  2. Carbon Offsets. With travel opening again, emissions from both business travel and personal travel are set to increase. Did you know that tourism alone contributes up to 11% of total annual emissions globally with flights contributing the lion’s share? So, what is a carbon offset and how are they helpful for air travel? Generally, a carbon offset is a way of investing into a project or action that eliminates, captures, or reduces greenhouse gas emissions. For example, if you are flying with Singapore Airlines, you can enter your flight details directly on their website to calculate your emissions. A flight from San Francisco to Singapore in business class generates 3,043.65 Kg of CO2 emissions which costs SGD 39.57 to offset through the website. Your money will go toward independently accredited and verified projects in Asia such as rainforest preservation, solar power, and clean-burning cook stoves in Nepal.

  3. Calculate your Foodprint and Eat Lower Carbon. Many websites exist that allow you to input common foods from our diets to calculate the carbon impact. Most of us know that beef is one of the largest offenders and has the most greenhouse gases emitted per serving, but did you know that chocolate from deforested rainforests is not far behind? Once you are aware of your impact, you can consciously make choices to reduce it. For example, if you are at a restaurant and can choose one protein to add to your rice bowl, maybe go for the egg at 4.8 Kg of Co2/1 Kg of egg versus the turkey at 10.9 Kg Co2/1 Kg of meat versus pork at 12.1 Kg Co2 versus beef at 27.0 Kg Co2. Maybe one day, instead of counting calories we will be counting carbon.

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Market Moves

  • Maree Myerscough has taken on an additional responsibility within Aquila Capital now serving as both Chief Operating Officer and General Counsel. 

  • KREDO Holding has brought in JunKyu Jang as Executive Director from Blueleaf Energy where he was a Senior Project Manager. 

  • Brian Huang has left New Green Power, where he was a Senior Sales Manager to join PeiTing Energy as a General Manager. 

  • Le Xu has left Wood Mackenzie where she was Senior Research Analyst for ESS to join Aquila Capital as Business Developer for Renewables and ESS. 

  • KTB Asset Management has hired WeonSuk Jeon as Associate for Alternative Investment Division. He has moved from Blueleaf Energy where he was an Investment Analyst. 

  • Ken Ng has left Hong Kong Broadband Satellites where he was Chief Financial Officer to join NEFIN as Chief Investment Officer. 

  • Nick Murphy has accepted the position of Director of Technical Development at Copenhagen Offshore Partners. He was previously the Development Director of Green Investment Group. 

  • Deep Wind Offshore has hired SeongBae Jeon as Project Manager for On and Offshore Wind Development. He was previously working at Northland Power in a similar capacity. 

  • Hsiang-Sheng (Sean) Huang has joined RWE as Offshore Wind Project Lead. Previously, he held the position of Development Manager of Vietnam at COP. 

  • Yuji Abe has left his role as Senior Analyst for Demand Response Operations at Enel X and joined Shell Energy as a Senior Operations Analyst for VPPs. 

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