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BII and FMO Invest $50 Million in BECIS to Boost Renewable Energy in South-East Asia
British International Investment (BII), the UK’s development finance institution, along with the Dutch entrepreneurial development bank, FMO, announced today a joint financing of $50 million to BECIS, an energy-as-a-service provider in South-East Asia. This investment aims to support BECIS’s expansion in renewable energy solutions across Vietnam, the Philippines, Indonesia, Thailand, Malaysia, and India. BECIS specializes in providing sustainable energy services, including rooftop solar, bioenergy, and energy efficiency solutions. The company’s objective is to optimize energy consumption and promote the use of renewable sources to enhance energy infrastructure and literacy in Asia. This initiative is part of a broader effort to meet the increasing demand for affordable and clean energy in the region.
Citicore Renewable Energy Corporation Secures a Historic Financing Agreement with RCBC for Multiple Solar Power Plant Projects
Citicore Renewable Energy Corporation (CREC) has reached a groundbreaking financing agreement with Rizal Commercial Banking Corporation (RCBC) to fund multiple solar power plant projects. The agreement, facilitated by RCBC Capital Corporation, marks a significant shift in project financing structure in the Philippines. The financing arrangement is set to provide up to PhP20 Billion in funding, with an initial tranche of PhP9 Billion earmarked for the development of solar power plant projects in Batangas, Pampanga, and Negros Occidental. This financing model, a departure from the conventional per-project approach, encompasses various project portfolios.
DNV Partners with PT PLN Engineering to Enhance Disaster Recovery Control Systems in Indonesia’s Power Grid
DNV, a renowned independent energy expert, has inked a Memorandum of Understanding (MoU) with PT PLN Engineering (PLNE), a subsidiary of Indonesia’s state-owned power distribution company PT PLN (Persero), signaling a strategic collaboration aimed at bolstering disaster recovery control systems within Indonesia’s power infrastructure. The two-year MoU, recently signed in Jakarta, outlines a cooperative effort in Scada/EMS design, crucial for ensuring the reliable and efficient operation of smart power grids and microgrids, vital components in Indonesia’s journey towards energy decarbonization. Despite Indonesia’s status as a major coal exporter in Southeast Asia, the nation has committed to phasing out coal by 2055 and achieving net-zero carbon emissions by 2060. However, according to DNV’s Energy Transition Outlook 2023, the country has faced challenges garnering support for its phase-out initiatives.
Shell Philippines Embraces Solar Power: LONGi Partnered with Netsolar Speeds Up the Renewable Energy Transition
Expanding its renewable energy footprint, LONGi, a globally renowned solar panel manufacturer, has partnered with Netsolar to install modules on Shell gas stations throughout the Philippines, transforming them into green-energy-powered facilities. In the Philippines, coal-fired power plants contribute a substantial 60% of the nation’s electricity. This significant collaboration brings LONGi’s Hi-MO X6 high-efficiency solar panels directly to Shell’s 27 gas stations. With an average system size of 30 kWp and a combined total of 755 kWp generated nationally, this allows each station to slash their electricity bills by a remarkable 40%. For gas stations, safety is the top priority. LONGi has adopted the Hi-MO X6 to meet the requirements of safety and reliability.
Malaysia Establishes Energy Exchange For Cross-Border Renewable Electricity Sales
The Malaysian government has approved the establishment of Energy Exchange Malaysia (Enegem) to facilitate the sale of renewable electricity to neighboring countries. According to a statement from the Ministry of Energy Transition and Water Transformation, the creation of Enegem aligns with Malaysia’s energy transition goals and its commitment to supporting regional power integration via the ASEAN Power Grid Initiative (APG). Enegem will operate in accordance with the latest ‘Guide for Cross-Border Electricity Sales (CBES)’ issued by the Energy Commission, inviting interested parties to participate in the first auction for the purchase of renewable electricity from Malaysia’s power supply system to be exported to Singapore via the Enegem Platform.
JA Solar Partners with INPOS to Donate Mobile PV System to Vietnam Electric Power University
JA Solar, in collaboration with INPOS, has generously donated a mobile photovoltaic (PV) system to Vietnam Electric Power University (EPU), empowering students to delve into the realm of renewable energy technologies. This initiative aims to furnish students with hands-on experience, bolstering their expertise and skills in the energy sector. Crafted by INPOS and equipped with JA Solar’s top-tier PV modules, the mobile PV system serves as a practical platform for EPU students, facilitating direct engagement with PV technologies and applications. This invaluable experience enriches their understanding and proficiency in the energy domain. As a leading renewable energy technology firm, INPOS specializes in the design, development and implementation of renewable energy solutions. Leveraging its extensive experience, INPOS ensures the seamless delivery of the mobile PV system, enriching EPU students’ learning experiences with their technical expertise.
1 Utama Partners with Solarvest to Install Malaysia’s Largest Solar PV System on Mall Rooftop
1 Utama Shopping Centre, operated by Bandar Utama City Centre Sdn Bhd (BUCCSB), has enlisted Solarvest Energy Sdn Bhd to install what will be Malaysia’s largest on-site solar photovoltaic (PV) and building-integrated photovoltaic (BIPV) system. Spanning approximately 273,300 sq ft across the mall’s rooftop and parking areas, the installation is set to generate over 5,700 kWp of renewable energy, powering the entirety of the shopping complex. Solarvest, a subsidiary of Solarvest Holdings Berhad, is responsible for the engineering, procurement, construction, and commissioning (EPCC) of the solar power project. Preliminary site studies have been conducted to tailor the system to meet 1 Utama’s specific energy requirements efficiently.
Singapore’s Foreign Minister Discusses Renewable Energy Collaboration During Visit To Philippines
Singapore’s Minister for Foreign Affairs, Dr. Vivian Balakrishnan, embarked on a working visit to the Republic of the Philippines from April 15th to 18th, 2024. On April 16th, Minister Balakrishnan engaged in a series of meetings aimed at reinforcing the longstanding and amicable relations between the two nations. During his visit, Minister Balakrishnan held discussions with President Ferdinand Marcos Jr., wherein both parties reiterated the strong bonds between Singapore and the Philippines. They explored avenues for enhanced bilateral cooperation and exchanged views on regional developments. Minister Balakrishnan also met with Secretary of Foreign Affairs Enrique Manalo, where they discussed various areas of collaboration, including people-to-people ties, renewable energy, and the ASEAN Power Grid. Following their meeting, they unveiled a commemorative logo marking the 55th anniversary of diplomatic relations between the two countries.
Vietnam Proposes Incentive Policies For Rooftop Solar Power Development
The initial decree proposes three key incentive measures: exemption of rooftop solar panel installation from strict adherence to the 8th National Power Development Plan, authorization for connection of rooftop power sources to the national grid in cases of excess capacity, and provision of interest rate support for loans utilized for storage equipment investment. During the meeting, Tran underscored the significance of rooftop solar power in safeguarding national energy security, emphasizing the need for mechanisms and policies to stimulate organizations and individuals to invest in rooftop solar power expansion. The decree must clearly outline the content, objectives, and eligible entities for rooftop solar power installation under the self-production and self-consumption model, enabling the design of appropriate incentive policies, mechanisms, or safety and fire prevention regulations. |
