Asia Power Update 7/11

GE to supply infrastructure for Vietnam’s power sector
China to fund huge Argentinian wind farm A US$3 billion loan from China and Chinese wind turbines will be used to build Latin America’s largest wind power project. Chinese and Indian firms join forces in huge wind energy project Renewable energy projects are to be built in India with a total capacity of 2.5 gigawatts. Japan launches nationwide energy conservation campaign The government aims to cut electric consumption by between 5% and 15% until September 7. India faces massive power crisis Some 40% of India does not have electric power and for those portions that do have electricity, a power crisis is approaching. China quadruples solar power installation target China quadrupled its solar power project domestic installation targets by 2015 to 21 gigawatts to help absorb the excess supply of panels. Japan determined to use more renewable energy Japan will create a US$628 billion “green energy market” to push the development of renewable energy. Indonesia to build a US$100 million wind farm This will be the country's largest wind farm consisting of 16 to 33 wind turbines. Wind and solar power made state properties by Chinese province Exploitation of wind and solar power in China's Heilongjiang province will now require permission from the provincial authorities. Japan relaxes power savings target as nuke reactor reaches capacity Japan will reduce power saving targets in its industrialised west after one of two restarted reactors reach capacity. Geothermal energy could help meet Indonesia’s energy targets Indonesia’s geothermal energy potential stands at 29 gigawatts, enough to meet the needs of its most populous islands. China begins liberalising natural gas prices China launched its first spot market for natural gas with an initial transaction volume of 39.6 million tons in July. Bangladesh to modernize 15 power plants Power Development Board is working to modernize 27 units of old 15 power plants. Vietnam's Quang Trach 1 power plant awaits $1.2B funding A financial arrangement is being negotiated for the construction of Quang Trach 1 thermal power plant. China to build huge solar park in Chile Two Chinese firms will begin building a 300 megawatt solar energy park in Chile this year. Queensland withdraws $77M funding for 250MW PV project The Queensland government has recalled AU$75 million or US$77 million in funding for a 250MW solar thermal project in Chinchilla. Korea's Kori-1 reactor allowed to restart South Korea's Kori-1 plant has been declared safe for continued operation by the Nuclear Safety and Security Commission.