2016 The Future of Energy APAC Summit Concluded

More than 400 delegates from international organizations, government organs, industrial companies and research institutes gathered at the 2016 the Future of Energy APAC Summit in Shanghai on 1st to 2nd November, 2016 organized by GEIDCO and Bloomberg New Energy Finance with the support from Bloomberg Business Week/Chinese Edition, to discuss major issues concerning a future blueprint of the energy sector led by S&T and driven by innovation with strategic development on the theme of “Energy Supply, Demand, Interconnections and Regional Development”. It advocated that more investment should be put to promote energy transition and upgrade and grid interconnection to inject new dynamism into sustainable social and economic development. The Summit made a great success with extensive consensus being made in building GEI. 

GEIDCO Secretary-General Wang Yimin gave a keynote speech on “World Energy Prospects and Energy Interconnectivity”. With analysis on the importance and feasibility of GEI in regard to economy, society, environment and technology, he came to a conclusion that the world was ready for GEI. According to Wang, the development of GEI would boost the growth of strategic emerging industries including high-end equipment manufacturing, new energy, new material and EV and help us benefit from using time zone difference, seasonal difference and tariff difference. In the future, with the development of GEI, electricity trade will also grow exponentially as a major drive of economic development. Besides, Wang also introduced the latest research results of GEIDCO on GEI and shared the great vision of establishing a “1+5” pattern for Asia Energy Interconnection composed of six big grids in China, Northeast Asia, Southeast Asia, Central Asia, South Asia and West Asia as a hub and platform. Chinese grid will be connected with that of Northeast Asia, Southeast Asia, South Asia and Central Asia, and play a pivotal role as a platform.

Zhong Yanqun, vice chairwoman and deputy secretary of the Standing Committee of the Shanghai Municipal People’s Congress was invited to the opening ceremony of the Summit. Wang Min, EVP of State Grid Corporation of China (SGCC), Jon Moore, CEO of Bloomberg New Energy Finance (BNEF) and Li Jian, publisher of Bloomberg Business Week/Chinese Edition Enterprise Group and Executive Director and General Manager of Beijing area of Modern Media gave welcoming speeches. Wang Min pointed out that green, low-carbon and interconnected development was the inevitable way out for global energy transition. As an important component of GEI, Asian Energy Interconnection is a strategic choice for the development of clean energy and industrial transition and upgrade in Asia that will promote the massive development and large-scale allocation of clean energy. Jon Moore emphasized the important role of Asia-Pacific in the future development of the energy sector and the value of the vision of GEI. Li Jian, however, pointed that energy was closely related to people’s well-being and national economic development; and therefore, the Summit would uphold a scientific, prudent and honest attitude towards new energy and new technologies. 

Eight main forums were held with themes of “Energy Prospects in a Long Term”, “Asia Energy Interconnection”, “Energy Transition in China”, “Future for Asian Public Utilities: New Markets, New Opportunities”, “Profit Model of PV Companies”, “Outlook of the Auto Industry – Can China Lead the Global EV Market”, “Financing of Renewable Energy Development in Asia”, and “Innovations in PV – Cutting-edge Green Revolution” along with nine panel discussions. Meanwhile, a number of experience-sharing activities were held with the latest research results being unveiled.

Participants had extensive discussions on the development trend of Asia-Pacific energy interconnection and the implementation of key regional interconnection projects with the conclusion that Asian Energy Interconnection was destined to be developed with grid as the platform. Chimeddorj Demchigjav, Head of Strategic and Planning Division, Ministry of Energy of Mongolia pointed out that Mongolia would` give full support to the development of Northeast Asia power interconnection to promote energy integration with neighboring countries, encourage investment in the energy sector and support projects for energy export. Twarath Sutabutr, Director-General of Energy Policy and Planning Office, Ministry of Energy, Thailand, believed that the development of clean energy was a major focus of the development of the energy system in Thailand with the goal of making the country a hub of grid interconnection in Southeast Asia. In the future, the Great Mekong Power Grid will eventually be connected with the grid in China to form an interconnected big grid covering East Asia and Southeast Asia that will further optimize the allocation of power resources. Ye Haibo, Director of the Chinese Office of World Business Council for Sustainable Development said that the development of GEI could not only benefit the countries and businesses, but also promote a sustainable development of the whole society. Gao Feng, Executive Vice President of Energy Internet Research Institute of Tsinghua University held the view that energy interconnectivity was the key to promoting energy revolution and would help the Chinese model of energy development go global and serve as a reference and offer experience to other countries in their efforts to realize clean and smart development.

The Future of Energy Summit was established by Bloomberg in 2008. This series event has been held in New York, London and Shanghai. The Future of Energy APAC Summit marked the first cooperation between GEIDCO and Bloomberg. The two sides will take it as a good opportunity to deepen exchanges in information research, event organization and think tank development to promote the concept of GEI on a higher level and in a larger scale through combining the advantages of both. The opportunity of “Belt and Road” Initiative will also be leveraged to promote infrastructure interconnectivity in Asia and all over the world.