World Energy Council - August, 2016

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We are delighted to bring you the August issue of World Energy Focus, the monthly e-magazine of the World Energy Council.
 
In an exclusive interview with Hwan-Eik Cho, the President & CEO of KEPCO (Korea Electric Power Corp), just ranked as the world’s best utility by Forbes, he explains how the Korean electricity giant is rising to the climate challenge. “We are focusing on energy storage systems and energy efficiency and see great prospects for electric vehicles” he says.

With the nationwide target to reduce greenhouse gas emissions by 37% in 2030, Kepco aims to increase installed renewable energy capacity to 21% by 2029.  Cho sees strong growth prospects in Korea in efficiency and smart grids. At the same time, against the backdrop of the threat of climate change, he perceives that “there is now more understanding of the necessity of nuclear generation. “
 
The featured story illustrates how the cost of offshore wind, which has always been the most expensive kind of renewable energy, can be and has already been driven down to previously unimagined levels. When technological innovation is combined with clear regulatory signals and, as happened in the Netherlands for example,  the way is paved to turn the European North Seas into a giant power generating region. The article cites industry experts’ who set the goal to deliver offshore energy offshore energy at a price of €80 per MWh by 2025.
 
Less coal. Less bureaucracy. More renewables. More market: In this issue’s country focus Professor Han Wenke, Director-General of ERI, the Energy Research Institute of the National Development and Reform Commission (NDRC), China’s largest ministry, explains the ramifications of the new Five-Year Plan for the energy sector on China.
 
China has already become the world’s largest investor in clean energy in recent years, and aims to increase its production of  “clean energy vehicles” ten-fold from half a million to 5 million on an annual basis. This would close the Electric Vehicles emissions gap completely, which according to a recent World Energy Council report  in China amounts to roughly 5.3 million, 22% of the projected passenger car sales.
 
And the news focus highlights  Japan’s roadmap for clean coal, EDF’s plans in entering the Chinese wind energy market and the Chinese market shoring up moderate growth in nuclear. This is due to a 31% increase in nuclear power generation in the country, as listed in the World Nuclear Industry Status Report 2016.
 
Download the August 2016 issue of World Energy Focus here. 
 
We encourage you to share Focus with your colleagues. They can subscribe for free by visiting www.worldenergyfocus.org.

Enjoy reading and sharing this summer issue. 

With kind regards,
Kristina Acker

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