United States Contributes to Advancing Vietnam’s Energy Sector

Singapore – which is exploring 7.35 gigawatts (GW) worth of clean power deals in Southeast Asia to meet its decarbonisation goals – is looking to develop a framework that recognises renewable energy credits (RECs) from these transactions, in a bid to increase the viability of costly cross-border projects for developers.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information'. 

**Photo credit: Wikimedia Commons

Singapore and Malaysia are looking to expand cooperation into areas such as electricity trading and renewable energy cooperation.

This is on top of existing infrastructure projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) for business and investment, and the Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is slated to start operations by end-2026.

Speaking to Singapore media on Jan 7 at the end of the 11th Malaysia-Singapore Leaders’ Retreat in Putrajaya, Malaysia, Prime Minister Lawrence Wong said one major project in the works is the import of electricity from Sarawak via undersea cables.

Besides the JS-SEZ agreement, six memorandums of understanding and a letter of intent were exchanged on Jan 7 at the Leaders’ Retreat, where PM Wong was hosted by Malaysian Prime Minister Anwar Ibrahim. Areas covered included carbon storage and capture and carbon credits cooperation.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: The Straits Times

Researchers from the Centre for Atmospheric Sciences, Indian Institute of Technology (IIT) Delhi used radiation data from global climate models available under the sixth phase of the Coupled Model Intercomparison Project (CMIP6) to analyse the twin impacts of climate change and air pollution on SPV performance. The CMIP6 is a leading group of models that uses different data sets to project the future impacts of climate change under various emission scenarios.

The study, using data from 1985 to 2014 as a baseline to predict a change from 2041 to 2050, concludes that SPV’s efficacy may decrease by 3.3% by the middle of the century. Based on current solar power production levels, the study estimates a loss of 600 to 840 gigawatt-hours (GWh) of electricity annually.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: Wikimedia Commons

The commitment of major US financial institutions to net-zero goals is facing increasing challenges. Following Goldman Sachs and Wells Fargo, Morgan Stanley, Citigroup and Bank of America also announced by the end of 2024 their decision to exit the United Nations' Net-Zero Banking Alliance (NZBA).

Morgan Stanley, Citigroup and Bank of America issued separate statements announcing their withdrawal but emphasized their continued dedication to achieving net-zero targets.

*This excerpt is from a news item collated by SIPET as part of its mission to serve as a one-stop platform for information and knowledge exchange about the energy transition in Southeast Asia. For the full news item, click on the link next to 'Further Information' . 

**Photo credit: iStock