MANILA, Sept. 23 (Xinhua) -- China proposed the setting up of "energy interconnection" on Monday to ensure steady power supply in Asia.
China made the proposal during an energy conference held in Cebu City in the central Philippines attended by over 300 energy industry leaders from the region.
The conference organized by the Association of the Electricity Supply Industry of East Asia and Western Pacific (AESIEAP) discussed ways to hurdle the challenges facing the power industry in a bid to develop innovative solutions to ensure a sustained power supply in the region.
The Global Energy Interconnection Development and Cooperation Organization (GEIDCO), an non-governmental and non-profit international organization, presented the Asia Energy Interconnection Research report detailing the overall plan and key projects for Asia energy interconnection projects.
"The report offers Chinese wisdom and solution for ensuring power supply, accelerating the clean transition, and promoting energy infrastructure and the development of upstream and downstream industries in Asia," the AESIEAP said in a statement.
According to the statement, the Global Energy Interconnection (GEI) is a modern energy system steering towards clean energy production, widespread energy allocation and electricity-centered energy consumption, an important platform for large-scale development, transmission and utilization of clean energy resources at a global level.
The statement further said the report systematically analyzes the power supply and demand trends and power flows in Asia, and formulate the overall scheme of grid based on the current status of energy and power sector, development characteristics and energy resource endowments of different countries in Asia.
The report proposes the overall planning and 27 key cross-regional grid interconnection projects for Asia Energy Interconnection (AEI) in five major Asian regions, including Southeast Asia, East Asia, South Asia, East Asia and West Asia, and also looks into prospects for future inter-continental interconnection among Asia, Europe and Africa.
Liu Zhenya, the chairman of GEIDCO, said the energy and power sector in Asia is rapidly developing. However, he said the sector faces three challenges in the long run, namely rapid growth in energy demand, great pressure in carbon mitigation and ensuring power supply.
At present, Liu said Asia's primary energy consumption accounts for 46 percent of the world's total, adding that the region's per capita annual electricity consumption is only one-third of that in OECD countries, and still 240 million people still have no access to electricity.
In Asia, Liu further said, hydro, solar and wind energy resources are abundant. "Their reserves take up 46 percent, 25 percent and 21 percent of the world's total, respectively," he said.
As the Chinese solution to the world energy transition and sustainable development, AEI will boost Asia's goal to attain clean energy. "It is the necessary path to realize sustainable development," Liu said.
In Asia, the future power flow will be from West to East and from North to South, supported by various energy sources, forming a new pattern of energy development, according to Liu.
Based on GEIDCO's estimates, by 2050 the total investment of AEI is 18.7 trillion U.S. dollars, including 14.3 trillion U.S. dollars in power source, and 4.4 trillion U.S. dollars in power grids, creating about 150 million jobs.
GEIDCO, established in 2016 in China with its permanent office in Beijing, is committed to promoting the world's sustainable development and actively building an international cooperation platform for mutual consultation, co-development, sharing and win-win results.
Currently, there are more than 700 members from over 100 countries and regions. GEIDCO has released the development index, technical equipment, standard system and related regional energy interconnection research reports.