By Henning Gloystein and Vera Eckert, Reuters
Investors are increasingly excited about the prospects for much faster growth in the solar power industry in Southeast Asia, which has until now been a backwater for renewable energy.
They say that the region is in a perfect position to benefit from rapidly declining prices in solar panels. It has strong economic growth, relatively high costs of electricity and a shortage from traditional sources, undeveloped infrastructure in more remote areas, plenty of sunshine, and backing for more renewable energy from many of Southeast Asia’s governments.
“Dramatically falling costs for solar energy technologies means businesses and governments are choosing renewable energy not for environmental reasons but for economic ones,” said Roberto De Vido, spokesman for Singapore-based Equis, one of Asia’s biggest green energy-focused investment firms with $2.7 billion in committed capital. “It simply makes good business sense. And that’s a trend that’s not going to change.” [Read more…] about Solar power revolution ‘unavoidable’ in Asia, says industry expert