World’s largest independent power producer – Engie – has announced large-scale plans for expansion across various countries in Asia-Pacific.
Engie will look to implement power projects based on renewable energy technology as sustainability concerns related to coal-based power plants are expected to increase significantly over time. The company shall increase investment in geothermal, solar, wind and biomass-based power technologies, Engie Asia Pacific’s President and Chief Executive Officer Jan Flachet said recently.
Engie will start construction of a 100 MW geothermal power plant in Indonesia next year and plans to set up two more over the next few years. The company is also in talks with state-owned power utility PLN for setting up 200 MW solar power capacity. It also plans to set up biomass-based power projects using bamboo and palm oil as fuels.
In the remote islands of Philippines, Indonesia and Australia the company is looking to set up solar-hydrogen based storage systems as these may be cost-efficient to replace diesel generators.
Engie has an operational wind energy project in Mongolia and plans to set up a liquified natural gas terminal in Myanmar.
Apart from its push towards renewable energy technologies the company is also looking to divest stakes in fossil fuel-based assets. It plans to sell 70% stake in Australia’s Loy Yang B thermal power plant and 40% stake in PT Paiton Energy, Indonesia’s largest coal-based power generator.