Southeast Asia

The global floating solar (FPV) market will surpass 6GW by 2031, with China, India and Southeast Asia set to deploy the lion’s share.

The Global Energy Alliance for People and Planet (GEAPP) has announced a plan to establish the GEAPP Energy Access and Transition Trust Fund, offering US$35 million to accelerate the clean energy transition and access in five Asian countries. 

A Singaporean independent power producer (IPP) plans to develop 2GWp of solar PV projects in the Philippines by 2030, with 500MW already under development.

PV module prices are set to fall considerably in the next five years, though US market prices will remain higher than the rest of the world as its import policies and ongoing competition with China add a market premium.

Allegations of fraud at Indian conglomerate Adani Group, which have knocked around US$125 billion off its market value since January, are unlikely to cause any perceptible damage to India’s long-term solar growth, according to two prominent members of the industry.

The Energy Market Authority (EMA) has granted conditional approval for the transfer of 1GW of clean energy from Cambodia to Singapore as part of the latter’s ongoing energy import strategy.

Solar PV will lead the energy transition in Malaysia and could reach up to 153GW of installed capacity by 2050.

Floating PV (FPV) developer Sungrow FPV will supply floating systems to a 192MW project in Indonesia, which it has said will be the largest floating installation in the country.

A number of solar module manufacturers have reportedly bid for financial incentives offered by the Indian government to expand domestic manufacturing of solar panels.

During 2022, capex for solar PV manufacturing fabs reached a record high - at more than US$27 billion - with spending dominated by Chinese companies building out new fabs in China and across Southeast Asia.