Southeast Asia Energy Buyers Grab Chance to Lock in Green Deals
By Akane Okutsu
Investment in renewable energy in Southeast Asia is holding up despite the economic pressure of the coronavirus pandemic, with many business buyers seizing chances to lock in low-cost power supplies for the long term, according to companies in the sector.
Several renewable energy providers told the Nikkei Asian Review that their corporate customers were speeding up decisions to sign up to “power purchase agreements” — deals for several years’ worth of energy — for renewables such as solar power.
It comes after years of falling costs for energy generated from renewables, which are now competitive, although prices of fossil fuels such as oil and gas have plunged due to falling demand during the coronavirus pandemic.
Photo courtesy of torsmedberg.