Asia Pacific set to become major global hub for renewable energy
16 July 2010
Key issues identified for Asia Pacific renewables
According to international legal practice Norton Rose Group, Asia Pacific is set to become a major global hub for renewable energy. Activity in the region is at an all time high, with the start of 2010 punctuated with a steady stream of renewable energy projects and commitments from a variety of Asia Pacific governments.
In response, Norton Rose Group has today launched a definitive manual for the Asia Pacific renewable market.
In recent years, Australia, China, Japan and India have become major players on the international renewable stage. Countries such as Malaysia, the Philippines, South Korea and Vietnam all now show signs of becoming important renewable markets as well in the coming years. There’s a growing consensus in the region that a focus on developing more renewable capacity is needed, with political and economic support central.
The Norton Rose Group manual - Renewable Energy in Asia Pacific - provides an in depth examination of all the key jurisdictions. It gives insight on a range of factors such as regulatory challenges, legal certainty, grid capabilities and the state of supply chains. The result is a definitive guide for anyone working on renewable projects in Asia Pacific.
Simon Currie, the global head of energy at Norton Rose LLP, comments:
“The renewable energy spotlight has seen a distinct shift towards Asia Pacific. The manufacturing of products and equipment for the industry will increasingly move to Asia over the next decade, and the Asia Pacific region specifically is becoming an important area of renewable investment. The trend is only likely to continue over the coming years.
“It really is an exciting area of the market, but one that few outside the region know a great deal about when it comes to identifying opportunities and doing business there.
“We’ve pooled the collective expertise of a number of energy specialists, both within Asia Pacific and from the rest of the world. What we’ve produced is, in essence, a very businesslike and thorough manual that provides the key insights needed for anyone looking to invest or work in this market.”
Nick Merritt, a partner at Norton Rose (Asia) LLP in Singapore said:
‘The manual reflects our experience of some of the important lessons we’ve learned working in the renewables sector across the region.’
‘As the sector becomes increasingly diverse in terms of where the deals are taking place and the types of deals that are being done, this manual acts as a valuable reference to those involved in the sector.’
A copy of Renewable Energy in Asia Pacific can be found at http://www.nortonrose.com/knowledge/publications/2010/pub29347.aspx?lang=en-gb
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