Scalable, secure, sustainable regional power trade mooted
Scalable, secure and sustainable cross-border power trade is important for leveraging geographic diversity in energy resources to meet rising regional electricity demand, top officials said at a recent summit.
Sustainable regional interconnection is a gradual process shaped by regional dynamics and political commitment, officials said at the Seventh Meeting of the International Solar Alliance (ISA) Regional Committee for Asia and the Pacific, held recently in Colombo.
The benefits of a regional energy integration enable optimal deployment of renewables by connecting generation-rich zones with demand centres, enhancing collective energy security through shared balancing capacity and redundancy, they highlighted at the conference.
Regional energy integration also supports decarbonisation by enabling high renewable energy penetration across national boundaries and reducing overall system investment needs through resource complementarity and demand diversity. “Regional energy integration will improve system resilience during climate-induced disruptions or unplanned outages and also strengthen geopolitical and economic cooperation through energy diplomacy,” an official said. Formalising multilateral proper trade agreements and cross-border willing frameworks, investing in digital technologies too for real-time coordination and strengthening regional institutions and platforms are crucial for scalable and secure cross-border power trade, he added. He said that digitalisation in this sector will bring the cost down not only for consumers but also for the producers.
Sagar Raj Gautam, Joint Secretary, Ministry of Energy, Water Resources, and Irrigation in Nepal, presenting at the conference, noted that the interconnection in power between Nepal and India is more than the original arrangement.
It was discussed that the 4.3 billion people in the Asia and the Pacific region account for 60 per cent of the world’s population. It was also noted that, as smaller countries in this region don’t have access to solar, it is better to do a digitalised tendering to get solar power faster for small island development states. “It is a way to bring the cost of transactions down, and it can combine the tenders, which in turn can bring down the economies of scale, which will reduce the cost of finance,” an official said.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!