China, Malaysia Explore Development of Virtual Power Plants

• Last year, SETD, united with universities both in China and Malaysia to come up with a report providing an understanding into the potential for development of and also cooperation prospect of VPP in the two countries.
• Despite the fact that VPPs are still in a stage of infancy, a number of reports agree that they are the future.

Virtual Power Plants are touted as the following huge action in solar sector that is driving the new age of energy. In a recent development on the front, China and Malaysia have joined forces to discover chances in VPPs. Towards this, both countries arranged "China-Malaysia Virtual Power Plant Project Achievements Seminar and China-Malaysia Virtual Power Plant Development Cloud Forum" via Shanghai Energy Technology Development (SETD), which is a subsidiary for China's State Power Investment Corporation Limited (SPIC). SPIC is amongst the 5 largest power generation groups.

Last year, SETD, united with universities both in China and also Malaysia to find up with a report providing an insight into the potential for development of as well as cooperation prospect of VPP in the two countries. The report likewise has referrals on their bilateral relationship on VPPs. The report remembers of the development of VVPs in Malaysia. The forum saw specialists share views as well as recommendations about the condition of development and also pattern of new energy as well as its storage space in Malaysia, in addition to exchange of views on the development potential, technological research study, construction and procedure as well as company version of VPP.

In the seminar, the two countries of China and also Malaysia accepted provide an incentive to green, low-carbon as well as smart energy change. At the same time, they will additionally be working out services to deal with the obstacle of climate adjustment. In June last year, Shanxi Province revealed that China's awaited its initial virtual power plant application strategy at provincial level.

A couple of days later, China's State Power Rixin Tech, which produces and also distributes electrical power equipment and had begun VPP organization in 2020, disclosed that its stock cost treked by 37% in a span of 3 consecutive days consequently of discussions about a new VPP project to be set up in California by Pacific Gas and also Electric Company (PG&E) and Tesla.

Despite the fact that VPPs are still in a stage of infancy, a number of reports agree that they are the future. One report goes on to state that the VPP market will certainly rise at a CAGR of 16.8% by through 2030.