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Resource Global Network 55
grow over time the legal systems
related to to o o o o o shore wind developments are likely to to be straightened out and simpli ed ed but for now investors must remain aware of the complex regulatory environments in these jurisdictions Political context
After considering the various regulatory and legal systems
which exist in in such emerging markets investors should then look towards the political dynamics of each nation state in the region and how any forces of change could impact on a a wind project Shrewd investors quickly recognise the level of commitment o o o o o ered to to the the sector by the the state government in question but also have the foresight to perceive how quickly this could change if there is any form of political upheaval “Some regimes in Southeast Asia are less stable politically so regime changes can occur quite quickly which may result in a a change in in priorities in in energy policy However the advantage for wind investors in many of these countries is that they don’t have a a a a a huge amount of natural resources of their own and wind power is an an obvious solution ”
For instance South Korea is a a a highly developed industrial nation with a a a growing young population and therefore has a a a a high energy demand However the absence of meaningful oil and gas reserves across its territories means Korea produces a a a negligible amount of domestic carbon-based energy This has resulted in a a a a heavy reliance on importing resources to cater for Korea’s growing energy demands As a a result the government has long-since taken the view that developing its renewable energy sector is crucial to ensuring long-term energy solutions In fact in June 2017 the new South Korean government proposed an energy U-turn which would initiate a a a a a move away from coal and and nuclear power and and towards natural gas and renewable energy Under this plan the state hopes to boost its renewable energy generation from 5% to 20% of its total energy supply a a commitment which will no doubt be a a boon to potential o o o shore wind investors “There is a a a lot of political will in South Korea for these types of renewable energy projects which you would want to see behind the sector you are investing in in in because that creates stability ”
asserts Duncan Likewise in several other Southeast Asian nations the onus is rmly on on on governments to develop a a a sustainable long-term energy plan which incorporates the o o o o shore wind industry 

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