PE2, 7 other country ESCO associations showcase ESCO market growth in Asia
ADB HEADQUARTERS, MANDALUYONG CITY, 17 June 2019 – The Philippine Energy Efficiency Alliance (PE2) co-hosted and joined 7 other country ESCO associations in showcasing energy service company (ESCO) market growth in a deep-dive workshop on ESCO business models during the first day of the Asia Clean Energy Forum (ACEF) 2019. The workshop followed the successful signing of all 8 country ESCO associations of the Joint Statement to Form the Asia-Pacific ESCO Industry Alliance (APEIA) earlier today.
Co-presenting alongside PE2 were the China Energy Conservation Association (EMCA), the Alliance for an Energy Efficient Economy (AEEE) of India, the Japan Association of Energy Service Companies (JAESCO), the Korea Association of ESCO (KAESCO), the Malaysia Association of Energy Service Companies (MAESCO), the Sustainable Energy Association of Singapore (SEAS) and the Taiwan Energy Service Association (TESA).
The APEIA founding associations collectively conveyed the message that the ESCO business model is effective in mobilizing off-balance sheet capital as countries strive to scale up their respective energy efficiency markets.
APEIA co-chair and PE2 president Alexander Ablaza declared that the ESCO business model is making a strong comeback globally and that 60% of global ESCO business originates from Asia. He explained, “Across the globe, ESCOs will have to mobilize a significant share of the $16.5 trillion in off-balance sheet capital flows to bridge the global $ 24.5 trillion energy efficiency capital requirements through 2040.”
Several PE2 member representatives, officers and trustees participated in this international workshop.
