While clean power procurement has grown across APAC in recent years, existing policies and market regulations continue to restrict access to affordable clean energy and constrain expansion of renewable energy supply. , said, “Demand for clean power procurement in APAC already far outstrips available supply.
Enabling clean power procurement has already become a key source of funding to accelerate deployment of clean electricity and reducing corporations’ emissions. Currently, when a company considers clean power procurement, the most common strategy is to match its annual electricity consumption with purchases of renewable energy.
said, “24/7 carbon free energy procurement provides corporate leaders with a powerful lever to drive the energy transition in the APAC region and globally. Long duration energy storage technologies are a highly effective way of delivering true 24/7 clean electricity, capturing renewably generated electricity for use across days, weeks and seasons.
APAC regulators need to address regulatory barriers to increase clean electricity supply and enable 24/7 CFE corporate procurement options. 24/7CFE would in turn enable timely coordination between corporate electricity consumers, renewable IPPs, grid operators and regulators leading to lower power system decarbonization costs.”
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