Focus On: Project Financing in Vietnam

In September 2018, the government of Vietnam increased its Feed-in-Tariff (FiT) of onshore projects from 7.8 US cents to 8.5 US cents, and also introduced the offshore tariff of 9.5 US cents. Other support mechanisms in the form of tax exemptions, such as import, corporate and land tax exemption, as well as exemption from Environment Protection Fees were also put in place. Altogether, these measures have piqued the interest of the international developer community as eyes have gone to Vietnam to be the next big wind market in South East Asia.

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GWEC welcomes GE Renewable Energy as its latest board level Member

The Global Wind Energy Council (GWEC) is pleased to welcome GE Renewable Energy as its latest board level member. GE Renewable Energy is one of the world’s leading manufacturers of onshore and offshore wind turbines and provider of energy system solutions. The company operates across 35 countries with a total installed wind capacity of 62 GW. It is currently deploying a prototype of the Haliade X offshore wind turbine, which will be the world’s largest at 12MW.

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Joyce Lee joins GWEC as Policy and Operations Director

Joyce Lee has joined the Global Wind Energy Council (GWEC) as Policy and Operations Director, contributing to GWEC’s growing market intelligence team. Joyce is experienced in political risk analysis and strategic investigations in Europe, East Asia and Southeast Asia, and has managed a number of complex multi-jurisdictional investigations. She has completed numerous policy-focused stakeholder-mapping exercises, including for large international energy companies.

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Our statement on Colombia’s first non-conventional renewable energy tender

Despite the recognition that there is a solid pipeline of projects ready to start up a competitive renewable energy market, the Colombian authorities couldn’t award contracts in the first tender round to any of power projects that were entered. This was due to a technical issue that the bidding offers did not comply with the criteria of concentration and dominance established for the competitiveness index set for the auction.

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Feng Zhao joins GWEC as Strategy Director

Wind Energy expert Feng Zhao has joined GWEC as its new Strategy Director. Zhao is one of the world’s foremost experts on the wind industry, having created and provided industry leading data and advisory services first for BTM Consult, and then for FTI Consulting. His project experience includes advising on global supply chain management, market growth projection, product portfolio development, market entry & exit, regulatory and policy review, O&M, M&A and dispute support.

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GWEC statement on revision to proposed changes to Feed in Tariff in Taiwan

Ben Backwell, CEO of GWEC, said: “We welcome the Taiwan Government’s decision to modify its proposed changes to the Feed in Tariff. We are pleased that that the government has listened to the views and evidence presented by GWEC and the industry since the changes were announced late last year.

We note that the changes still include both a 6% tariff reduction and an introduction of a cap on annual full-load hours, which has a negative impact on projects by dis-incentivizing the most efficient and optimised technology and wind farm design. GWEC has argued for the complete removal of the proposed load hours cap.

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The Leonardo DiCaprio Foundation has funded a research study as part of its new One Earth Initiative, which offers a feasible roadmap for achieving—and surpassing—the targets set by the 2015 Paris Climate Agreement

The One Earth Model charts an extraordinarily detailed and hopeful path to a climate-safe world, relying primarily on wind and other renewable technologies, combined with sensible land-use practices. The groundbreaking new framework is the first model to achieve the required negative emissions through natural climate solutions, including the restoration of degraded forests and other lands, along with a transition to 100% renewable energy by mid-century. It is the result of two years of research and modelling by leading scientists at the University of Technology Sydney, the German Aerospace Center, and the University of Melbourne.

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Alyssa Pek