CONCLUSION ON SOUTH EAST ASIA REPORT

The Wealth Power Group of Vietnam along with two other partners going to develop Solar PV Power projects in Champasak and Sekong provinces with an estimated capacity of 500 MW. As there are lots of opportunity for the Solar PV projects, if these projects will come online, will supply 10 percent of their electricity output for the domestic market and 90 percent will be exported to neighbouring countries, particularly Vietnam and Myanmar. The country has fewer Solar projects which are currently generating electricity. Due to lack of policy, funding and foreign investment in Solar are not accelerating, the Power mix for Solar PV installed capacity was less than a percentage. Many announcements in the Solar PV segment are happening these days, such as 1,200 MW of floating Solar PV project at Nam Ngum 1 dam reservoir which will become the largest floating Solar project globally when commissioned.

South-East Asian (SEA) countries are at the heart of the Global Solar PV Market. The government of different countries in SEA has set a target to increase the percentage of renewable energy by 2025 to support the growth of renewable energy nationally. Various policies, a framework is established within their countries for the development of renewable energy, especially Solar PV. The optimal utilization of renewable energy can improve the economy of the South-East Asian countries and support industrial and commercial growth especially Myanmar, Cambodia, Nepal, and others who are importing electricity from other countries to fulfill the growing demand of their developing economy. South-East Asian countries have become an attractive destination for renewable energy investors, which is helping the electricity cost to come down drastically comparing with the previous decade. Large-scale Solar PV project becomes an issue in a different part of the countries in South East Asian region due to hilly terrain across the country but floating Solar PV project is trending, especially to those regions which have an abundance of water bodies due to its large number of hydropower dams, thermal power ponds, and man-made reservoirs. Many countries have set the target for renewable energy by 2025, 2030, 2050 to become 100% carbon-free emission country by sourcing electricity from renewable sources especially Solar PV.

CONCLUSION ON SOUTH EAST ASIA REPORT