Renewable Energy challenges discussed at ADB meeting
May 3, 2019 4:41 pm
The private sector engaged in a robust discussion regarding the challenges faced in expanding their investment into the renewable energy space.
With regional representation, the Asian Development Bank’s developing member countries addressed the fact that regulatory and legal arrangements were evolving slowly.
Top of the issues was the fact that electricity grids in some developing member countries still struggle to absorb new sources of generation.
Another area of concern was the entrants of new competition which laid pressure on the market.
However, positively renewable energy in Asia and the Pacific continues to grow.
The seminar also surveyed the financing mix of commercial and concessional; and emerging opportunities for investments.
On a panel for Fiji was CBS Power Solutions who explained the work that has been carried out in the areas of providing renewable energy projects in the rural communities.
General Manager and Director, Amit Singh says these projects have helped reduce fuel bills and emission of Fiji’s greenhouse gases.
However, Singh highlighted the limitations faced by the private sector in financing.
“The private investors are on a receiving end, what ADB and World Bank formulate we will just receive that – we don’t have a say in what we need. We can share what we need but we can’t influence the policies, we can’t formulate with the governments. The private sector has very limited says when it comes to policies.”
The seminar generally addressed the renewable energy investment in Asia and the Pacific and its fast-changing model.