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Ditrolic Energy Secures US $673 Million Deal with BlackRock’s Climate Finance Partnership for Solar Expansion Across Emerging Markets
Ditrolic Energy Holdings Sdn. Bhd. has struck a significant deal with BlackRock’s Climate Finance Partnership (CFP) to support its venture into building commercial and industrial (C&I) and utility-scale solar assets across emerging markets in the Asia Pacific region. Established in 2009, Ditrolic Energy stands as one of the largest renewable energy developers in Malaysia and Southeast Asia, managing a fully integrated value chain from project development to asset management. The company currently operates and constructs over 450MW of solar assets in Malaysia, Southeast Asian countries, Bangladesh, and China. With the backing of CFP, Ditrolic Energy solidifies its position as a leading pure-play energy transition entity in Malaysia.
New Solar Deal: UMC Metals and New Energy Capital Signed 1.6MWp Solar PPA Agreement to Drive Sustainability in Thailand
New Energy Capital Asia, a prominent provider of corporate and industrial solar energy solutions, has announced a groundbreaking agreement with UMC Metals Ltd, a global leader in the metals industry. This significant partnership marks a milestone in Thailand’s renewable energy landscape, as New Energy Capital Asia finalizes a Power Purchase Agreement (PPA) with UMC Metals Ltd for an innovative 1.6MWp solar project featuring both floating and ground-mounted solar installations.
G Capital’s Solarcity Malaysia Revises Solar Power Purchase Agreement To 2,000 KWp With Chin Herr Industries
G Capital Berhad (GCAP) announces the revision of the power purchase agreement (PPA) between Solarcity Malaysia Sdn. Bhd., a 70 %-owned subsidiary of GCAP, and Chin Herr Industries (M) Sdn. Bhd., a wholly-owned subsidiary of Chin Well Holdings Berhad. In a supplemental Solar Power Purchase Agreement (SPPA) signed, Solarcity revised the capacity of the solar photovoltaic energy generating system (Solar PV System) at Chin Herr’s premises in Bukit Mertajam, Penang. Initially planned for a total capacity of 3,000.24 KWp, the estimated installed capacity was earlier revised to 2,470.60 KWp on July 27, 2022. With the recent design update, both parties agreed to further revise the capacity to 2,000.00 KWp.
MGen Renewable Energy Successfully Completes P15.9 Billion Acquisition, Secures Controlling Stake In SPNEC
MGen Renewable Energy Inc. (MGreen), a subsidiary of Manila Electric Company (Meralco), has successfully concluded its P15.9 billion acquisition, securing a controlling stake in SP New Energy Corporation (SPNEC). This milestone follows the Securities and Exchange Commission’s approval of SPNEC’s increased authorized capital stock. MGreen obtained 15.7 billion common shares and 19.4 billion preferred shares through a capital hike, satisfying the final conditions for its investment. With a 50.5 per cent total voting interest, MGreen is now the dominant shareholder in SPNEC.
IFC and Partners Invest in New Equity Fund to Advance Clean Energy in Southeast Asia
IFC has made a $15 million investment in SEACEF II, supporting energy projects in Southeast Asia. The project is managed by Clime Capital. SEACEF II combines a blend of public, private, and philanthropic capital, focusing on Southeast Asia. It targets equity investments in utility-scale renewables and supports businesses in rooftop solar, energy efficiency, electric mobility, and grid management. SEACEF II targets to invest in Indonesia, Vietnam, and the Philippines, while also supporting regional ventures across Southeast Asia. IFC’s debut investment, part of a global partnership with Allied Capital Partners, consists of $10 million from IFC’s account and $5 million from the Finland-IFC Blended Finance for Climate Program.
JG Summit’s Merbau Solar Project Lauded As Philippines’ Largest Consumer-Driven Installation
The Department of Energy (DOE) and the Energy Regulatory Commission (ERC) have commended JG Summit Holdings Inc.’s Merbau energy facility, located in Batangas City, for its 13.811-megawatt roof-mounted solar power project. This project is recognized as the largest consumer-driven installation in the Philippines. Energy Secretary Raphael Lotilla and DOE Assistant Secretary Mylene Capongcol praised Merbau for contributing to renewable energy solutions, emphasizing its positive impact on cost savings, lower carbon footprint, and alignment with the government’s energy diversification policy.
Kinergy Advancement Collaborates with LCS Holdings for Innovative 20MWp Solar Farm Project in the Philippines
Kinergy Advancement Berhad (KAB), a sustainable energy expert, is venturing further into Southeast Asia’s renewable energy sector as it plans on setting up a solar power project in the Philippines in partnership with a renowned Philippine conglomerate, LCS Holdings Inc (LCS). KAB’s subsidiary, KAB Energy Holdings Sdn Bhd (KABEH), has executed a Head of Agreement (HOA) with LCS. Together, they’ll develop a 20 MWp Solar Farm in Santa Ilocos Sur, Philippines, expandable to 100 MWp. LCS, the project owner, has secured all permits and contracts. The signing ceremony was attended by Mr. Luis Crisologo “Chavit” Singson, Ex-governor of the province of Ilocos Sur and Chairman of LCS Holdings, showcasing the project’s importance and the strong relationship between the parties.
OUTRIGGER Teams with New Energy Capital Asia for Solar Integration at Thai Resorts, Pioneering Sustainability in Hospitality
OUTRIGGER Hospitality Group has announced a groundbreaking collaboration with New Energy Capital Asia, a leading provider of customized solar energy solutions. This partnership marks a significant stride in OUTRIGGER’s dedication to sustainability and environmental responsibility, as they unveil plans to install state-of-the-art solar rooftop systems at three of their flagship properties in Thailand: OUTRIGGER Khao Lak Beach Resort, OUTRIGGER Surin Beach Resort, and OUTRIGGER Koh Samui Beach Resort. Together, these installations will boast a combined solar capacity of 1.2MWp.
Sunview Enters Shareholder Agreement with DPS Resources for Solar Project
In a significant development within the renewable energy sector, Sunview, a prominent player engaged in engineering, procurement, construction, and commissioning activities, has announced its subsidiary’s entry into a shareholder’s agreement with DPS Resources Berhad (DPSRB). The agreement entails Sunview Asset Management Sdn Bhd subscribing to a 40% stake in DPS Sunview Sdn Bhd (DPS), with DPSRB securing the majority stake of 60%. The signing ceremony, held at DPSRB’s office in Malacca, saw the formalization of the agreement by Sunview’s Executive Director & Chief Executive Officer, HP Ong, DPSRB’s Executive Chairman Tan Sri (Dr) Sow Chin Chuan, and DPS Director Mr. Eugene Sow Chuan Sheng.
Philippines’ Century Pacific Food Advances Green Initiatives; Expands Solar Capacity
Century Pacific Food, Inc., a leading force in the Philippine food and beverage industry, is intensifying its dedication to sustainable practices through increased investments in renewable energy initiatives. The company is taking significant steps with the expansion of its Solar PV capacity and the introduction of state-of-the-art biomass boilers. With a primary focus on its largest manufacturing hub in General Santos City, where it produces tuna and coconut products, CNPF is enhancing its solar power facility. The operational solar capacity is undergoing a remarkable surge from 5.2MW to 8.6MW, marking a substantial 65% increase. The upgraded facility is projected to be fully operational by March 2024. |
