Latest news with #Chinese-financed
Business Recorder
5 days ago
- Business
- Business Recorder
China exports more solar panels to Pakistan than to many G20 nations in 5 years: report
China exported more solar panels to Pakistan than to many G20 nations, with over 16 gigawatts (GW) imported in 2024 alone, a research report stated on Wednesday. The report titled 'Leader of One or Leader of None - China's Choice for Clean over Coal in Pakistan' published by think tank Renewables First said more than 39GW of solar panels, nearly all from China, entered Pakistan in just five years. These solar panels are 'enough to exceed three-quarters of Pakistan's installed national generation capacity', the report said. The report unpacked this transformation, highlighting China's role in the Global South. 'The exit of the United States from the Paris Agreements threw international climate action into a state of frenzy, with the world left speculating who, if anyone, might step in to lead the efforts against climate change,' it said. From crisis to clean energy: Pakistan emerges as top solar market in 2024 China is now a global powerhouse in clean energy manufacturing. It is supplying tools in the form of renewable energy technologies that much of the world is using to fight climate change, according to the report. There has been an energy shift in Pakistan in the form of what the think tank called a 'Solar Rush', which is driven 'not by government declarations or boardroom decisions, but by rooftops, farms, and factory sheds'. The report demystified the 'Solar Rush', dissecting how one of the world's fastest-growing, people-led solar markets materialised not through grand strategy, but through open competition, favorable trade policy, and a flood of low-priced technology. Yet as solar thrived, coal investments began turning into high-risk assets, with the country still hosting billions of dollars in Chinese-financed coal-fired power plants, the report said. As solar slashed grid demand and made self-generation more viable, these legacy plants, once seen as anchors of energy security, have began to sink. 'Utilisation of these power plants fell to as low as 4% in some projects by 2024. Capacity payments ballooned. And electricity from the grid grew more expensive for those still reliant on it,' the report. 'China's solar panels are outcompeting China's power plants,' said Muhammad Basit Ghauri, lead author of the report. 'What we are seeing is an unintentional but profound strategic contradiction. And Pakistan is ground zero for this global experiment in energy disruption.' Pakistan's solar revolution leaves its middle class behind With distributed solar now displacing centralised generation, Pakistan does not just need panels. It needs storage systems, grid upgrades, local manufacturing, financing tools, and a pathway to move away from stranded coal assets, the report said. 'Pakistan may be the first to experience this clash between legacy coal and democratised solar at this scale, but it will not be the last. If China gets this right, it will not just lead to Pakistan's energy transition. It will prove itself as the architect of a new Global South energy paradigm, one that is fast, fair, and truly transformative,' the report envisaged.
Nikkei Asia
22-04-2025
- Politics
- Nikkei Asia
Japanese minesweepers dock at controversial Cambodian naval base
REAM NAVAL BASE, Cambodia -- When the Japanese Maritime Self-Defense Force minesweepers JS Etajima and JS Bungo arrived at the Ream Naval Base in Cambodia on Saturday, it was the start of no ordinary port call. The vessels were the first to dock at the base since its official inauguration on April 5, following an extensive three-year Chinese-financed expansion, a fact that Cambodia hopes will go some way toward dispelling accusations that China would have exclusive access to the facility.
The Independent
21-03-2025
- Business
- The Independent
A major new airport to serve Cambodia's capital and boost tourism is due to open in July
Cambodia expects that its new airport serving the capital will open in July, a project official said Friday, in a major step forward in boosting the country's lucrative tourism sector, whose growth was interrupted by the coronavirus pandemic. Work on Phnom Penh's new airport, officially known as the Techo International Airport, began in 2019, covering an area of 2,600 hectares (6,425 acres) located at the border of Kandal and Takeo provinces, about 30 kilometers (19 miles) south of the capital. 'I think the TIA airport here is going to be launched in the soft opening in July 2025, and we believe that so many passengers are waiting and they really want to come in to see this new airport,' said Charles Vann, director of the airport's project steering committee, during a media tour. The new airport is a $1.5 billion joint venture between the Cambodian government and the Overseas Cambodian Investment Corp. It's being built by the China Construction Third Engineering Bureau Group Co., Ltd. The architects for the airport are the British firm Foster + Partners, whose website says its 'design embodies a strong sense of place" and is "responsive to the tropical climate.' The terminal building sits under what is described as a single overarching roof canopy that is a lightweight steel grid shell, 'with an innovative screen that filters daylight and illuminates the vast terminal space.' Construction is being undertaken in three phases. Initially, the airport is expected to be capable of handling up to 13 million passengers a year, with capacity increased up to 30 million passengers after 2030, and then up to 50 million passengers in 2050. It will be the second major airport in Cambodia to open in the space of two years. In 2023, the Chinese-financed Siem Reap-Angkor International Airport began operations in the northwestern province of Siem Reap, about 40 kilometers (25 miles) east of the centuries-old Angkor Wat temple complex, the country's major tourist attraction. Tourism is one of the main pillars supporting Cambodia's economy. According to the Ministry of Tourism, Cambodia received around 6.7 million international tourists in 2024, a 23% increase over 2023.
Yahoo
21-03-2025
- Business
- Yahoo
A major new airport to serve Cambodia's capital and boost tourism is due to open in July
KANDAL, Cambodia (AP) — Cambodia expects that its new airport serving the capital will open in July, a project official said Friday, in a major step forward in boosting the country's lucrative tourism sector, whose growth was interrupted by the coronavirus pandemic. Work on Phnom Penh's new airport, officially known as the Techo International Airport, began in 2019, covering an area of 2,600 hectares (6,425 acres) located at the border of Kandal and Takeo provinces, about 30 kilometers (19 miles) south of the capital. 'I think the TIA airport here is going to be launched in the soft opening in July 2025, and we believe that so many passengers are waiting and they really want to come in to see this new airport,' said Charles Vann, director of the airport's project steering committee, during a media tour. The new airport is a $1.5 billion joint venture between the Cambodian government and the Overseas Cambodian Investment Corp. It's being built by the China Construction Third Engineering Bureau Group Co., Ltd. The architects for the airport are the British firm Foster + Partners, whose website says its 'design embodies a strong sense of place" and is "responsive to the tropical climate.' The terminal building sits under what is described as a single overarching roof canopy that is a lightweight steel grid shell, 'with an innovative screen that filters daylight and illuminates the vast terminal space.' Construction is being undertaken in three phases. Initially, the airport is expected to be capable of handling up to 13 million passengers a year, with capacity increased up to 30 million passengers after 2030, and then up to 50 million passengers in 2050. It will be the second major airport in Cambodia to open in the space of two years. In 2023, the Chinese-financed Siem Reap-Angkor International Airport began operations in the northwestern province of Siem Reap, about 40 kilometers (25 miles) east of the centuries-old Angkor Wat temple complex, the country's major tourist attraction. Tourism is one of the main pillars supporting Cambodia's economy. According to the Ministry of Tourism, Cambodia received around 6.7 million international tourists in 2024, a 23% increase over 2023.
Associated Press
21-03-2025
- Business
- Associated Press
A major new airport to serve Cambodia's capital and boost tourism is due to open in July
KANDAL, Cambodia (AP) — Cambodia expects that its new airport serving the capital will open in July, a project official said Friday, in a major step forward in boosting the country's lucrative tourism sector, whose growth was interrupted by the coronavirus pandemic. Work on Phnom Penh's new airport, officially known as the Techo International Airport, began in 2019, covering an area of 2,600 hectares (6,425 acres) located at the border of Kandal and Takeo provinces, about 30 kilometers (19 miles) south of the capital. 'I think the TIA airport here is going to be launched in the soft opening in July 2025, and we believe that so many passengers are waiting and they really want to come in to see this new airport,' said Charles Vann, director of the airport's project steering committee, during a media tour. The new airport is a $1.5 billion joint venture between the Cambodian government and the Overseas Cambodian Investment Corp. It's being built by the China Construction Third Engineering Bureau Group Co., Ltd. The architects for the airport are the British firm Foster + Partners, whose website says its 'design embodies a strong sense of place' and is 'responsive to the tropical climate.' The terminal building sits under what is described as a single overarching roof canopy that is a lightweight steel grid shell, 'with an innovative screen that filters daylight and illuminates the vast terminal space.' Construction is being undertaken in three phases. Initially, the airport is expected to be capable of handling up to 13 million passengers a year, with capacity increased up to 30 million passengers after 2030, and then up to 50 million passengers in 2050. It will be the second major airport in Cambodia to open in the space of two years. In 2023, the Chinese-financed Siem Reap-Angkor International Airport began operations in the northwestern province of Siem Reap, about 40 kilometers (25 miles) east of the centuries-old Angkor Wat temple complex, the country's major tourist attraction. Tourism is one of the main pillars supporting Cambodia's economy. According to the Ministry of Tourism, Cambodia received around 6.7 million international tourists in 2024, a 23% increase over 2023.
