French leading Renewable Entrepreneur Olivier Duguet is teaming with Southeast Asia Alternative Energy Specialist Jeff Peron to launch The Blue Circle. Headquartered in Singapore, with presence in Ho Chi Minh City and Phnom Penh, the new company aims at becoming a leading Independent Power Producer in the Greater Mekong River region. The Blue Circle is targeting to develop and invest in renewable energy projects in Vietnam, Cambodia, Laos, Thailand and Myanmar.
“Time has come for the Mekong countries to consider Renewable Energy for their base load needs” emphasizes Olivier Duguet. The Blue Circle positions itself as the next generation of Renewable Energy provider with innovative, custom-made green technology solutions for the power off-takers or communities it will serve. The company believes that to prevent the world’s fastest growing sub-continent from relying too heavily on fossil fuel imports, decentralized clean energy is the solution. Solar and wind energy will be the resources of choice for The Blue Circle, which boasts more than 21 years of experience in the field with its current management team.
Growth prospects for 2014 have been revised upwards by the Asian Development Bank at 7.5% for Cambodia, 5.5% for Vietnam, while the Word Bank is forecasting 5% growth for Thailand next year. “We are seeing energy shortage as a bottleneck for economic development in the Mekong region" adds Jeff Peron. "For example, there is a strong demand for alternative energy sources to support the growth of the tourism industry in coastal areas, or to power factories and industrial zones in countries such as Cambodia.” Given the current price of fossil fuels and their volatility, clean renewable sources in Thailand, Vietnam and Laos are promoted through feed-in tariffs or tax incentives to support their growing domestic consumption, or to export to neighboring countries. Blackouts are experienced weekly in Cambodia and Vietnam as both countries are racing to add new capacity.
In that context, The Blue Circle intends to deliver renewable energy at competitive prices and rapidly grow its asset base.