{"id":122216,"date":"2021-10-01T20:08:37","date_gmt":"2021-10-01T20:08:37","guid":{"rendered":"https:\/\/fin2me.com\/?p=122216"},"modified":"2021-10-01T20:08:37","modified_gmt":"2021-10-01T20:08:37","slug":"asia-could-accelerate-its-transition-to-renewable-energy-says-power-firm-executive","status":"publish","type":"post","link":"https:\/\/fin2me.com\/politics\/asia-could-accelerate-its-transition-to-renewable-energy-says-power-firm-executive\/","title":{"rendered":"Asia could accelerate its transition to renewable energy, says power firm executive"},"content":{"rendered":"<ul>\n<li>Asia could move quicker in its transition to renewable energy, said Eugene Cheng, group chief financial officer of Sembcorp Industries.<\/li>\n<li>Renewable energy accounts for more than 20% of average energy generation across Asia, compared with more than 40% in Europe, said Cheng.<\/li>\n<li>Sembcorp aims to increase by four times its capacity to generate energy from renewable sources to 10 gigawatts by 2025, he added.<\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>SCIL-SG<\/span><button class=\"AddToWatchlistButton-watchlistButton\"><span><\/span><\/button><\/li>\n<\/ul>\n<p>SINGAPORE \u2014 Asia could move more quickly in its transition to renewable energy, said an executive from Sembcorp Industries, a Singapore-based power and urban development company.<\/p>\n<p>&quot;Definitely in terms of accelerating the transition, we could go faster,&quot; Eugene Cheng, the company&#x27;s group chief financial officer, told CNBC&#x27;s &quot;Squawk Box Asia&quot; on Thursday from the climate conference Ecosperity Week.<\/p>\n<p>Cheng was asked if surging gas prices in Europe and an ongoing power crunch in China indicated that the world is moving too slowly toward renewable energy and net-zero carbon emissions.<\/p>\n<p>The executive said renewable energy accounts for more than 20% of average energy generation across Asia, compared with more than 40% in Europe. \u00a0<\/p>\n<p>&quot;So, I think we do need to drive a transition quicker and that will take a combination between governments and also the private sector,&quot; he said.<\/p>\n<p>Sembcorp launched a &quot;sustainability-linked bond&quot; on Wednesday to raise 675 million Singapore dollars ($496 million). The 10.5-year bond has a coupon rate of 2.66%, which will be raised by 25 basis points if the company doesn&#x27;t meet its target to cut the intensity of carbon emissions.<\/p>\n<p>To meet the target, Sembcorp aims to increase by four times its capacity to generate energy from renewable sources to 10 gigawatts by 2025, said Cheng.<\/p>\n<p>The company is stepping up renewable energy projects across Asia, with a particular focus on solar and wind projects in China, India and Southeast Asia, he added.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/09\/30\/asia-could-accelerate-transition-to-renewable-energy-sembcorp-industries.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asia could move quicker in its transition to renewable energy, said Eugene Cheng, group chief financial officer of Sembcorp Industries. Renewable energy accounts for more [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":122215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Asia could accelerate its transition to renewable energy, says power firm executive - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/politics\/asia-could-accelerate-its-transition-to-renewable-energy-says-power-firm-executive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia could accelerate its transition to renewable energy, says power firm executive - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Asia could move quicker in its transition to renewable energy, said Eugene Cheng, group chief financial officer of Sembcorp Industries. 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