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54 WIND | Offshore wind - emerging markets track record of of a a a a a particular state in terms of of development regimes prior to establishing an an o o o shore wind project in in any Far Eastern jurisdiction “Thailand has a a a a a long track record not just in o o o o shore wind of a a a stable payment regime so there there is quite a a lot of security there there whereas other states (for example Vietnam and Philippines) have only recently developed their rules and and regulations and and the the relevant regimes “Therefore these markets have less of track record which makes it harder for investors to to assess the risks ”
Regulatory and legal systems
The next thing to to consider for investors interested in in in in in o o shore wind in in in in in emerging Southeast Asian markets would be the the regulatory and legal systems
one would encounter in each nation Currently investors are faced with a a a number of challenges when it comes to to regulatory environments and how well each country’s regulatory and legal environment is geared towards o o o o shore wind developments The majority of the region’s emerging o o o shore wind markets have in in place tough rules and regulations which could create market barriers along the line for investors when it comes to the planning stages of a a a project subject to where it is being done so for investors it is a a case of nding out how quickly things like environmental impact assessment will be put through ”
says Duncan For example the government of Taiwan recently issued a a set of environmental regulations to minimise the impact of o o o o o shore wind developments on local marine fauna The regulations stipulated that all wind farms along the West coast of Taiwan must be located at at least 1 000 metres away from the breeding grounds of endangered white dolphin species While this is is an an important environmental decree related to the protection of wildlife it does illustrate some of the obstacles that arise for o o o o shore wind investors in in in these emerging Asian markets Other key details regarding the the planning regime in in certain countries would need
to be elicited such as the the levels either
local or national that the regime would be implemented on on depending on on the the site of the the wind farm Generally speaking complex procedures exist in in many frontier and emerging markets across the the region which adds another layer of di culty for for foreign investors trying to to access o o shore Asian wind markets “O shore wind is sometimes controversial However as the markets exponentially

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