Principals of energy service company associations from China, India, Japan, Korea, Malaysia, the Philippines, Singapore and Taiwan display the newly signed founding agreement to form the Asia-Pacific ESCO Industry Alliance in its 3rd meeting in Mandaluyong City on the sidelines of the Asia Clean Energy Forum 2019.
ADB HEADQUARTERS, MANDALUYONG CITY, 17 June 2019 – Country organizations representing the energy service company (ESCO) industry and energy efficiency market stakeholders from 8 Asian countries held its third meeting and formally signed the Joint Statement to Form the Asia-Pacific ESCO Industry Alliance (APEIA) on the sidelines of the Asian Clean Energy Forum 2019, kicked off earlier today at the headquarters building of the Asian Development Bank. The meeting was convened by APEIA co-chairs Alexander Ablaza of the Philippine Energy Efficiency Alliance (PE2) and Zhao Ming of the China Energy Conservation Association (EMCA). The other participating ESCO associations include 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).
All 8 ESCO associations recognize the need to create a regional ESCO industry platform, which will promote ESCO industries, encourage knowledge-sharing of ESCO industry players, and boost network for finding potential investors, funding, and technology providers. In order to strengthen the cooperation among the Associations, the Associations hereby agree to form the Asia-Pacific ESCO Industry Alliance.
Ablaza said, “APEIA shall be a platform for ESCO associations across the Asia-Pacific for sharing knowledge and experience, building capacity and ultimately potentially mobilizing energy efficiency projects and financing across the Asia-Pacific region. We need APEIA to actively promote the ESCO business model, as 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.”
The country associations unanimously seek a regional platform to enable flow of ESCO capacities and knowledge, develop nascent ESCO markets, and even facilitate ESCO business development, carbon finance and other energy efficiency projects across country borders.
During its third meeting held earlier today, the regional body agreed to register itself as a legal entity in Singapore. APEIA also agreed to support the initiative to establish the Global ESCO Network.
Supporting the inter-organization deliberations and witnessing the signing of the Joint Statement were 10 of the 15 members of the PE2 board of trustees, who represented the host country association for this meeting.