Showing posts with label renewable energy. Show all posts
Showing posts with label renewable energy. Show all posts

Monday, October 28, 2013

World Update: EU Over-Delivered on Kyoto Commitments: EEA Assessments (9 Oct 2013)


EU Over-Delivered on Kyoto Commitments: EEA Assessments
EEA



9 October 2013: Two assessments by the European Environment Agency (EEA) indicate that the EU is on track to meet its common targets for greenhouse gas emission (GHG) reductions, renewable energy and energy efficiency. The assessments show that all member States are on track in at least one target area, although no member State is on track to meet all three.

The first assessment, ‘Trends and Projections in Europe 2013: Tracking Progress towards Europe's Climate and Energy Targets until 2020,' concludes that the EU reduced GHG emissions between 2008 and 2012 by 12.2%, beyond the 8% target required under the Kyoto Protocol. The assessment further finds that the EU is on track to achieve GHG reductions of 21% by 2020, beyond the 20% required by its 2020 target. On renewable energy, the assessment notes that 13% of EU final energy consumption came from renewable sources in 2011, on the way to a 2020 target of 20%.

The second assessment, ‘Approximated EU GHG Inventory: Early Estimates for 2012,' offers the first comprehensive assessment of EU performance for the first commitment period of the Kyoto Protocol, which called for collective reductions of 8% from 2008 to 2012. The assessment finds that the 15 member States of the EU with a common commitment over-performed the 8% target, achieving a collective reduction of 12.2%.

In light of these findings, Connie Hedegaard, European Commissioner for Climate Action, remarked, "The EU is clearly delivering on its Kyoto commitments. The EU has reduced its emissions significantly since 1990 while expanding its economy. This further demonstrates that climate policy can be implemented in a way that fosters jobs and growth.” [EEA Press Release] [European Commission Press Release] [Publication: Trends and Projections in Europe 2013


Tuesday, October 22, 2013

Publication: Biofuels - At What Cost? A review of costs and benefits of U.K. biofuel policies (13 Oct 2013)

Biofuels - At What Cost? A review of costs and benefits of U.K. biofuel policies

» Christopher Charles, Richard BridleTom Moerenhout, IISD, 2013.Paper, 51 pages, copyright: IISD
This report evaluates some of the principal issues associated with the U.K.'s biofuel industry, including support policies, employment creation, emissions abatement, and the role of biofuels and other renewable technologies in meeting EU renewable energy targets. It assesses the costs and benefits of the U.K.’s policies in meeting the objectives that EU member states have set out to achieve, including increased energy security, improvements in environmental performance and the generation of additional economic value. The report finds:

Wednesday, September 25, 2013

New Books: The Energy of Nations Risk Blindness and the Road to Renaissance By Jeremy Leggett (23 Sep 2013)

The Energy of Nations

Risk Blindness and the Road to Renaissance

By Jeremy Leggett

Routledge – 2014 – 272 pages

Descriptions:
Systemic global risks of oil supply, climate shock and financial collapse threaten tomorrow's economies and mean businesses and policy makers face huge challenges in fuelling tomorrow’s world.
Jeremy Leggett gives a personal testimony of the dangers often ignored and incompletely understood - a journey through the human mind, the institutionalization of denial, and the reasons civilizations fail. It is also an account of tantalizing hope, because mobilizing renewables and redeploying energy funding can soften the crash of modern capitalism and set us on a road to renaissance.

Contents:
About the author Publisher’s note about the author’s credentials and motivations Acknowledgements Note on sources and style Prologue 
PART 1: A HISTORY 
  1. Lies, scaremongering, and affordable oil 
  2. Under the volcano 
  3. Doomed to failure 
  4. Not our responsibility 
  5. The risk of contingency 
  6. The small print 
  7. When the dancing stops 
  8. This House Believes 
  9. They will blame us forever 
  10. As bad as the credit crunch 
  11. You are the flip side of austerity 
  12. Houston, it’s just possible we have a problem 
  13. The anti Oil Shock Response Plan plan 
  14. A bollocks subject 
  15. To the point of being suicidal 
  16. A new era of fossil fuels
  17. More unhinged by the week 
PART 2: A FUTURE 
18. What next: the anatomy of the biggest crash
19. The power of context: energy and security
20. The choice of roads: people and systems Notes and references

Sunday, September 22, 2013

Indian Updates: Tamil Nadu takes India's solar power capacity up 30% (17 Sep 2013)

Tamil Nadu takes India's solar power capacity up 30%
Tamil Nadu takes India's solar power capacity up 30%, TNN | Sep 17, 2013, 05.50 AM IST
CHENNAI: India's installed solar power capacity is poised to jump 30% with the Tamil Nadu government close to signing power purchase agreements for 700 megawatts (MW) by the end of October.

Once the plants are up and running, Tamil Nadu will have the second largest solar power capacity in India after Gujarat, the pioneer in such projects in the country.

India has 1,759.43MW of grid-connected solar power, with close to 800MW coming fromGujarat. The projects are expected to be ready for commissioning next year.

As part of TN's solar power policy, which aims at installing 3,000MW of capacity by 2015, a total of 52 companies will sign agreements with the Tamil Nadu Generation and Distribution Corporation (Tangedco) for capacity totalling 698MW at a tariff of 6.48 per unit (with a 5% increase annually for 10 years).

This comes at a time when the country's national solar policy is tottering. The second phase of the Jawaharlal Nehru National Solar Mission (JNNSM) has been delayed by over five months with no sign of the programme being kick-started any time soon.

Solar power is the most expensive form of renewable energy and rupee depreciation has added to the woes of companies importing high-end photo voltaic panels.

"There has been a lot of uncertainty over solar power companies and negativity had set in. But now there are projects in the pipeline and activity for players across the board will go up," said Madhavan Nampoothiri, founder and director of RESolve Energy Consultants, an energy consultancy firm.

Last week, Tangedco held individual meetings with solar power developers asking them to submit documents for proof of land ownership and bank guarantees for financing. "Thirty companies are yet to submit the documents and we have given time till October 30. Once this is in place, power purchase agreements will be signed," a senior official from Tangedco said.

Companies that have the documents in place have started working on the project. "The meeting with the Tangedco chairman and other members was a manner of assurance of support and we have started progress on our project. The team is on the site and we are in talks with banks for financing," said T R Kishor Nair, President, Welspun Energy, which is setting up a 60 MW plantin Trichy district. Solar policies in other states haven't made as much progress and capacities also aren't as large as in Tamil Nadu. While Andhra Pradesh has a target of 1,000 MW, tariff is a deterrent for investors as it is fixed at Rs 6.49 with no annual hike. The programmes in states like Punjab (300 MW) and Karnataka (130 MW) are on a smaller scale and are in the nascent stage. What adds to Tamil Nadu's attractiveness is that the state has high solar radiation of 5.6 - 6.0 kWh per square meter with around 300 clear sunny days in a year, the third highest in India.

Source: 

Saturday, September 21, 2013

New Books: Renewable Energy Systems The Earthscan Expert Guide to Renewable Energy Technologies for Home and Business By Dilwyn Jenkins (30 Aug 2013)

Renewable Energy Systems

The Earthscan Expert Guide to Renewable Energy Technologies for Home and Business

By Dilwyn Jenkins

Routledge – 2012 – 264 pages
Descriptions:
This book is the long awaited guide for anyone interested in renewables at home or work. It sweeps away scores of common misconceptions while clearly illustrating the best in renewable and energy efficiency technologies. A fully illustrated guide to renewable energy for the home and small business, the book provides an expert overview of precisely which sustainable energy technologies are appropriate for wide-spread domestic and small business application. The sections on different renewable energy options provide detailed descriptions of each technology along with case studies, installation diagrams and colour photographs, showing precisely what is possible for the average household. The chapter on how to select the renewable technology most appropriate for ordinary homes and businesses summarizes this analysis in a neat and easy to use table and demonstrates with examples exactly how to assess your local renewable resources.
Renewable technologies covered include wood energy, wind power, solar photovoltaics, solar thermal, passive solar, geothermal and air-to-air heat pumps as well as water or hydro based energy systems – plus the all-important subject of energy efficiency. Whilst written to be accessible to a wide audience, the book is targeted at readers who are keen to work with renewable technologies, students, building engineers, architects, planners, householders and home-owners.

Contents:
  1. General Introduction. 
  2. The Importance of Energy Efficiency. 
  3. Wood, Wood Pellet and Wood Chip Heating. 
  4. Solar Thermal. Heat Pumps. Photovoltaics. 
  5. Wind Energy. 
  6. Hydropower. 
  7. Choosing the Right Technology. 
  8. Finance and Support

Tuesday, September 10, 2013

Chinese Updates: China to charge more to subsidize green energy (3 Sep 2013)


China to charge more to subsidize green energy
2013-09-03
China will raise tariffs on power to collect subsidies for renewable energy from September 25 in a bid for better quality air, the country's economic planner said on Friday.

China will raise tariffs on power to collect subsidies for renewable energy from September 25 in a bid for better quality air, the country's economic planner said on Friday.

The price adjustment will exclude residential and agricultural power, the National Development and Reform Commission (NDRC) said.

The additional charge on power for clean energy will be 0.015 yuan (0.0024 U.S. cents) per kilowatt-hour from current 0.008 yuan per kilowatt-hour.

The cost for renewable energy is relatively high and international practice is to subsidize the sector at its outset, Li Caihua, deputy head of pricing at the NDRC, said.

China has charged a levy on wholesale power to build subsidy funds for renewable energy and the charging standard has increased from 0.001 yuan per kilowatt-hour in 2006 to 0.008 this year.

The NDRC can collect an additional 20 billion yuan (3.24 billion U.S. dollars) annually now, but there has been a shortfall in recent years as renewable energy has been growing quickly.

The fund reported a shortfall of 10.7 billion yuan at the end of 2011 which was forecast to hit 33 billion yuan in 2015, Li said.

The NDRC also announced on Friday it would improve subsidies for power plants on denitration from 0.008 yuan per kilowatt-hour to 0.01 yuan per kilowatt-hour and add a new subsidy of 0.002 yuan per kilowatt-hour to power plants which cut dust emissions below 30 milligram per cubic meter.

The pricing will mainly be made at wholesale levels and retail prices will not be affected as coal prices have been falling, Li said.

Sunday, July 21, 2013

Publications: Investment Incentives for Renewable Energy in Southeast Asia: Case study of Viet Nam » Nam Pham Khanh, Quan Nguyen Anh, Binh Quan Minh Quoc, IISD, 2012. (Jul 2013)

IISD Publications Centre

Investment Incentives for Renewable Energy in Southeast Asia: Case study of Viet Nam

» Nam Pham Khanh, Quan Nguyen Anh, Binh Quan Minh Quoc, IISD, 2012.Paper, 33 pages, copyright: IISD
Energy markets around the world face many challenges. Conventional supplies of fossil fuel reserves are becoming increasingly scarce, leading to rising prices. At the same time, concerns over climate change are growing, increasing the urgency for countries to decouple greenhouse gas emissions from economic growth. All of these pressures have greatly raised the profile of renewable energy technologies (RETs), with governments now commonly providing a range of support frameworks and incentives to attract investment.
This report assesses investment incentives for renewable energy in Viet Nam. It focuses on small hydro, wind, solar, biogas, and biomass resources. Through an analysis of the incentives available for these technologies, and drawing on insights from representatives from governments and industry, it suggests some initial findings on the extent to which Viet Nam’s investment incentives for renewable energy are effective and affordable, and identifies further research that could usefully be conducted in this area.

The analysis is part of a series of reports that aim to conduct an exploratory assessment of such incentives in developing countries around the world.

Paper
























Saturday, July 6, 2013

Publications: Renewables the Fastest-growing Power Generation Sector, IEA Reports (26 Jun 2013)

Renewables the Fastest-growing Power Generation Sector, IEA Reports


IEA26 June 2013: The International Energy Agency (IEA) has released its second annual 'Medium-Term Renewable Energy Market Report 2013' (MTRMR), which finds that growth of renewables in the electricity sector is on track to meet the IEA's low-carbon energy scenarios through 2018. The report cautions, however, that policy uncertainty is the main risk facing continued growth in the sector.

According to IEA Executive Director, Maria van der Hoeven, “Many renewables no longer require high economic incentives. But they do still need long-term policies that provide a predictable and reliable market and regulatory framework compatible with societal goals."

Despite a fall in new global investment in 2012, the MTRMR predicts that investment opportunities are likely to grow over the medium term. The report anticipates strong growth in the renewable power sector, which is expected to see a 40% growth over the next five years, leading to an increase in the share of renewables in the global power mix from 20% in 2011 to 25% in 2018. The report also predicts that global renewable electricity generation will surpass that of gas and double that of nuclear by 2016.

The two main drivers of the positive outlook for renewable power generation identified in the report are: the acceleration of investment and deployment in emerging markets, where renewables help meet the rising electricity demand while contributing to climate change mitigation; and the increasing cost-competitivness of renewables in a wider set of circumstances.

Other sections featured in the report include national and regional summaries of OECD countries and Brazil, China, India, Morocco, South Africa and Thailand, as well as global outlooks on biofuels in the transportation sector and renewables for heating. [IEA Press Release] [Publication:Medium-Term Renewable Energy Market Report 2013] [Remarks by IEA Executive Director]

For more information: 

Saturday, June 1, 2013

Call for Papers: 2013 International Conference on Renewable Energy and Environment (ICREE 2013) (Deadline: 10 Jun 2013)

Call for Papers 

The 2013 International Conference on Renewable Energy and Environment (ICREE 2013) is the premier forum for the presentation of technological advances and research results in the fields of Renewable Energy and Environment. ICREE 2013 will bring together leading engineers and scientists in Renewable Energy and Environment from around the world. 

Topics of interest for submission include, but are not limited to: 

Technology and system aspects 
Wind resources environmental impact 
Turbines and generators 
Construction and design issues 
Solar cell technology 
Solar thermal electricity 
Geothermal heating and heat pumps 
Environmental impacts and sustainability 

All papers for the ICREE 2013 will be published in JOCET (ISSN: 1793-821X) as one volume, and will be included in Engineering & Technology Library, EBSCO, Ulrich's Periodicals Directory, BE Data and Google Scholar, Cross ref, ProQuest and sent to be reviewed by Ei Compendex and ISI Proceedings.
 06, 05, 2013 News! The ICREE 2013 submission is open now.

Paper submission (Full Paper)                                                    Before June 10, 2013
Notification of acceptance                                                                On June 30, 2013
Authors' Registration                                                                   Before July 20, 2013
Final paper submission                                                                Before July 20, 2013
ICREE 2013 Conference Dates                                                 September 23-24, 2013

Publication Ethics - Penalty against Plagiarism

For more information: http://www.icree.net/

Sunday, May 19, 2013

Publications: Pioneering renewable energy options: Thailand takes up the challenge by L.Weischer (May 2013)

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Pioneering renewable energy options: Thailand takes up the challenge by L.Weischer


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Thailand’s support policies for renewable energy (RE) in the power sector have allowed individual small projects to add up to something substantial, attracting more investment and leading to faster growth in the sector than in most other Asian nations. Thai energy policy is complex, and the development of RE has not been without controversy. While this Inside Story by the Climate and Development Network (CDKN) provides some elements of the context, it cannot cover all aspects of Thai energy policy. Instead it focuses on identifying factors that can explain the relative success of Thai policies and highlights some lessons for future development. The brief highlights that Thailand was among the first countries in Asia to introduce incentive policies for the generation of electricity from renewable energy (RE) sources, leading to rapid growth, particularly in solar power. Civil society involvement strengthened and improved RE policies in Thailand.

For more information: 
http://www.eldis.org/go/display&type=Document&id=65156?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eldis-climate_change+%28Eldis+Climate+Change%29#.UZjiz6KnwVg

Wednesday, May 8, 2013

Event: "「臺灣2050年零碳及再生能源百分百之可行性與必要性」全民論壇" organized by 行政院環境保護署 on 18 May 2013


如何邁向低碳的未來 環保署邀您集思廣益
提供單位:行政院環境保護署溫減管理室
發布日期:2013.05.06

因應氣候變遷是我們不可逃避的課題,低碳生活也是必要的選擇。然而,我們對於未來願景的描繪,必須以對減碳的策略、方法與路徑的詳細規劃為基礎。行政院環境保護署將於102年5月18日(星期六)下午1點到5點,於台北矽谷國際會議中心,舉辦「臺灣2050年零碳及再生能源百分百之可行性與必要性」全民論壇,歡迎所有公民報名參與討論。 

        臺灣已訂定自願減碳的目標:將溫室氣體排放量在2020年回到2005年的排放水準;並設定在2050年將排放水準降到2000年的一半,與減碳目標息息相關的能源政策與相應的能源結構,再生能源是眾所周知的低碳策略,然而國內各界對再生能源相關技術發展、成本計算與情境設定等,仍有相當認知差異。藉由公民參與,提出各種可行及理想情境,並討論背後之假設條件與,讓我們更能夠界定邁向低碳未來的挑戰與機會。 

        環保署希望透過這樣的交流平台激盪出不同的想法,讓未來的願景與路線圖更加清晰。透過全面評估及交流溝通,共同腦力激盪尋找合理可行方案來長期推動。 

        本次活動將以「世界公民咖啡館」的形式辦理,分為五個群組,共30個議題,進行三輪討論,公民可自行選定有興趣的群組參與。請上活動網站報名(網址:http://ecolife.epa.gov.tw/cooler/project/WorldCafe)。

For more information: http://ivy5.epa.gov.tw/enews/fact_Newsdetail.asp?InputTime=1020506151436

Friday, April 19, 2013

Publication: Annual Market Update by Global Wind Energy Council (18 Apr 2013)


  
Wind power surges to new record

The Global Wind Energy Council released its Annual Market Update today, with a comprehensive snapshot of the global wind industry at the end of 2012, along with a 5-year forecast out to 2017. Although policy uncertainty in the main OECD markets is a cause for concern, strong markets in China, India and Brazil, as well as in new markets in Latin America, Africa and the rest of Asia will drive global growth during the period.

"Wind power may be variable, but the greatest threat to the continued stable growth of the industry is the variability and unpredictability of the politicians who set the frameworks for the energy sector", said Steve Sawyer, GWEC Secretary General. "However, all of the fundamentals which have driven wind power to date are still in place: energy security, price stability, local economic development, climate change mitigation and local air and water pollution issues; and wind is now competitive in an increasing number of markets, despite fossil fuel subsidies which last year amounted to an incentive to emit CO2 of about $110/tonne."

Record installations in the United States and Europe led global installations of 44.8 GW of new wind power globally in 2012, 10% more than was installed in 2011. Global installed capacity has now reached 282.5 GW, a cumulative increase of almost 19%. The forecast is for a modest downturn in 2013, however, followed by a recovery in 2014 and beyond; with global capacity growing at an average rate of 13.7% out to 2017, and global capacity nearly doubling to 536 GW.

The US regained the #1 spot for global markets in 2012 for the first time since 2009, eking out China by 164 MW. However, the late extension of the US Production Tax Credit on 1 January 2013 means that the US market will drop precipitously in 2013, although with substantial recovery expected in 2014. Europe's record installations in 2012 are unlikely to be repeated in 2014, as a result of policy uncertainty and backtracking.

"European Governments are driving up the cost of meeting their 2020 renewable energy targets by making policy changes that undermine investor confidence", said Thomas Becker, CEO of the European Wind Energy Association. "An ambitious and binding 2030 renewable energy target would hugely reduce uncertainty. It would create jobs and exports and boost Europe's world-leading wind industry."

After a year of market consolidation in China, the world's largest market with over 75 GW of installed capacity, Chinese authorities are calling for 18 GW of installations in 2013; and after a year-long policy hiatus in India, the market is expected to recover and return to growth in 2014. Brazil continues to lead the Latin American market, and may surpass 2 GW of annual installations in 2013; and both Mexico and Canada are expected to grow substantially over the period.
There are also hundreds of MW under construction in South Africa, with another 500 MW expected to come to financial close this year, leading a surge in installations in sub-Saharan Africa which began in Ethiopia in 2012. In Asia, Pakistan, Mongolia, the Philippines and Thailand are all expected to see significant installations in 2013 and beyond.

Annexes
Cumulative market forecast by region 2013-2017
Annual market forecast by region 2013-2017
target="_blank">Full report

Contact Information:
Lauha Fried, GWEC, +32 2 213 1898,lauha.fried@gwec.net

Further Resources

For more information: 
http://www.unep.org/Documents.Multilingual/Default.asp?DocumentID=2713&ArticleID=9475&l=en&t=long

Wednesday, April 17, 2013

New Book: Business Models for Renewable Energy in the Built Environment By Iea-Retd (18 Feb 2013)


Business Models for Renewable Energy in the Built Environment

By Iea-Retd

Published 18th February 2013 by Routledge – 200 pages

Description:
Business Models for Renewable Energy in the Built Environment provides insight to policy makers and market actors as to the ways that new and innovative business models (and/or policy measures) can stimulate the deployment of renewable energy technologies (RET) and energy efficiency (EE) measures in this field.
This project was initiated and funded by the IEA Implementing Agreement for Renewable Energy Technology Deployment (IEA-RETD). It analyses ten business models in three categories, covering different types of energy service companies (ESCO’s).
Included:
  • developing properties certified with a ‘green’ building label
  • building owners profiting from rent increases after EE measures
  • property Assessed Clean Energy (PACE) financing
  • on-bill financing
  • leasing of RET equipment.
Coverage extends to the organisational and financial structure of the models and the existing market and policy context, plus analysis of Strengths, Weaknesses, Opportunities and Threats (SWOT).
The book concludes with recommendations for policy makers and other market actors on how to encourage and accelerate built environment renewable energy technologies.


Contents:
1. Introduction
2. Overcoming Barriers for the Deployment of Renewable Energy Technologies (RET) in the Built Environment
3. Business Models for an Increased Deployment of RET in the Built Environment
4. Analysis of Business Models
5. Synthesis: Business Models, Barriers, Market Segments and Actors
6. Recommendations for Policy Makers and Market Actors


Saturday, March 2, 2013

Publication: Meeting India's renewable energy targets: the financing challenge by D. NELSON; G. SHRIMALI; S. GOEL (Feb 2013)


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Meeting India's renewable energy targets: the financing challenge

Meeting India's renewable energy targets: the financing challenge

Authors: D. NELSON; G. SHRIMALI; S. GOEL

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This paper analyses the challenges for designing Indian national policy to attract investment in wind and solar energy at a reasonable cost. It also examines the impact of national and state policies on various classes of renewable energy investors, as well as the overall relative costs or benefits of policies on the final cost of renewable energy projects. The paper particularly focuses on the cost and availability of equity and debt, respectively, and the consequent implications for Indian renewable and financial policy.

The main sections of the paper address discuss:

  • renewable energy industry trends;
  • finding equity and raising debt;
  • high cost of debt;
  • equity;
  • state of renewable energy finance’;
  • government policy framework;
  • policy analysis, including case studies from Brazil and China, and of India versus the United States and Europe.
Conclusions and next steps forward include the following.
  • The most pressing problem facing renewable energy financing in India is the high cost of debt.
  • General Indian financial market conditions are the main cause of high interest rates for renewable energy.
  • The structure and regulation of the Indian power sector are significantly challenged, resulting in increased project risk and national policies that do not accurately reflect the realities of financial markets or state-level risks.
  • Lessons learnt from, and policies developed by, developed economies may not be very useful due to differences in national financial markets that impact renewable energy policy design and effectiveness.
  • The Brazilian Development Bank (BNDES) is an especially promising example of bridging the financing gap (it plays a major role in almost every renewable project in the country, often by offering long-term loans at below-market rates), which deserves further study and consideration by Indian policymakers.

For more information: 

Monday, February 25, 2013

South Korean Updates: S. Korea to build 18 new thermal power plants by 2027 (22 Feb 2013)


S. Korea to build 18 new thermal power plants by 2027
2013-02-22

S Korea-power plants 
S. Korea to build 18 new thermal power plants by 2027
SEOUL, Feb. 22 (Yonhap) -- South Korea will build up to 18 new thermal power plants by 2027 while also significantly expanding the generation capacity of clean, renewable power sources, such as solar and wind farms, the government said Friday.

The move comes as the country's electricity consumption is expected to grow by an annual average of 2.2 percent, from 482.5 billion kilowatt-hours this year to 655.3 billion kilowatt-hours by 2027.

The country's peak power demand is expected to grow at a faster rate of 2.4 percent per year from 79.7 million kilowatts in 2013 to over 110 million kilowatts in 2027, according to the Ministry of Knowledge Economy.

The government sets a 15-year power supply plan in place every two years. The latest is the sixth of its kind.

Under the new plan, the government seeks to increase the total generation capacity of clean, renewable sources to 12 percent of total consumption in 2027, compared with only 7 percent in 2025 under the fifth power supply plan announced two years earlier.

An additional 15.8 million kilowatts of electricity will come from the 18 new power plants in the plan approved Friday.

To secure enough supplies, the government has given out licenses to public and private companies to build 12 new thermal power plants using coal and six using natural gas.

Plans for new nuclear power plants, on the other hand, have been suspended.

"Considering the people's worsened sentiment toward nuclear power plants following the accident at Japan's Fukushima nuclear power plant (in March 2011), the government decided to withhold any decision on new nuclear power plants that were earlier set to be completed between 2025 and 2027," the ministry said in a press release.

The country earlier sought to build four new reactors by 2027. Without the four new reactors, the country's power reserve rate would dip from 22 percent in 2024 to 16.5 percent in 2027, the ministry said.

The power reserve rate is a crucial indicator of stability in power supply with a reserve rate of below 4 percent of total generation capacity considered dangerous. In 2012, the country's average power reserve rate stood just above the dangerous level at 4.2 percent, forcing the government to issue numerous power shortage warnings during peak seasons in summer and winter.

The ministry said dangers of a possible nation-wide blackout will be greatly reduced next year when the power reserve rate is expected to reach 16.3 percent with over 14 million kilowatt-hours added to the country's total generation capacity.

Still, the government said it will work to limit the growth of consumption, which will include rate hikes.

"The government will reform the rate system and also introduce a rate system that links the cost to price that will allow it to quickly reflect any changes in the global energy price," the ministry said.

South Korea imports nearly 97 percent of all fuel, such as oil or coal, consumed here.

bdk@yna.co.kr

Source: 
http://www.keei.re.kr/main.nsf/index_en.html?open&p=%2Fweb_keei%2Fen_news.nsf%2Fxmlmain%2F7CA8FD05480EE69149257B1A002265CE&s=%3FOpenDocument