The currently growing economy of Asia leads to an increase in energy demand. The source of energy in this region has mostly been coal, fossil fuels, and natural gas. However, the use of coal is dangerous for the environment. Therefore, Asia has been planning to shift from the agriculture sector to the manufacturing sector.
Despite the low production cost, coal presents a very high price to pay in the future. Numerous officials have recognized the possible threat of remaining in the course of coal. One of the most dangerous risks of relying on coal is risking public health. According to the World Health Organization (WHO), the number of deaths worldwide increases mainly due to the negligent energy use from coal-fired power stations, households, industry, and the transport sector.
As air pollution is now taken seriously in the public health sector, high reliance on coal is putting the region at very high risk. Consequently, many global brands are concerned with the region’s current plan to increase the amount of coal power in the upcoming years.
Considering the disadvantage of burning coal power, Asian countries are trying to look at other alternatives to elevate their energy supply, one of which is Cambodia. The Ministry of Mines and Energy in Cambodia stated that the country is looking forward to putting more investments in liquefied natural gas (LNG) power plants as Cambodia plans to use natural gas leading up to 3,600 megawatts by 2030. Cambodia sees a potential economy recovery in 2021, thus the demand for energy is expected to be strong on the mend. The use of natural gas is seen as profitable, considering that it will be very much required and beneficial for industrial uses, power generation, transportation, and residential importances.
Another renewable energy movement of Cambodia is taking steps into the first wind power project. Renewable energy adoptions, such as solar and wind, is a part of supporting Cambodia to reach full energy independence, create a sustainable energy ecosystem, as well as offering a very competitive price for electricity. Before the global outbreak, Cambodia partnered up with a Chinese firm to import LNG and distribute it across the country. Yet, COVID-19 has delayed the LNG establishment since the time frame is no longer feasible.
Considering the increasing growth of industries, more people are exposed to the national electricity grid, and the worsening condition of Asia ecosystems, promising opportunities for renewable energy industries lie ahead.
As international private sector companies are actively seeking to invest in more renewable energy projects, Asia is the perfect destination to support the clean energy transition. In addition, the Green Climate Fund has expressed their desire to disburse huge amounts of funds to create a sustainable ecosystem in the long run across several countries, including Asian countries.