American Alliance for Solar Manufacturing Trade Committee of US solar manufacturers represented by DC law firm Wiley Rein LLP, filed a set of antidumping and countervailing duty petitions with the US International Trade Commission (USITC) and the US Department of commerce. The companies subject to this investigation would be primarily Chinese-headquartered companies. The move comes at a time when much like Europe, inventory levels of panels in the US has peaked to what many consider over a year’s supply, severely threatening future demand. This petition was presented to investigate potentially illegal trade practices by Cambodia, Malaysia, Thailand, and Vietnam that…
Author: Akash
Citicore Renewable Energy Corporation (CREC) has secured a financing arrangement with Rizal Commercial Banking Corporation (RCBC) for the funding of multiple solar power plant projects with a combined installed generating capacity of at least 600MWdc and up to approximately 1GW of solar energy capacity. The financing deal, arranged by RCBC Capital Corporation, is slated to reach up to PhP20 Billion in funding, starting with the signing of an initial tranche of PhP9 Billion. The structure is believed to be the first-of-its-kind project financing in the Philippines, which covers various project portfolios instead of the typical per-project financing structure, stated Citicore.…
Frasers Property is partnering SP Group (SP) to install close to 4,500 square metres (sqm) of solar panels across seven of the Group’s retail and commercial properties in Singapore – the country’s largest single solarisation roll-out for retail malls to date. A collaboration between Frasers Property and SP on energy-saving solutions, both parties inked a partnership agreement during a signing ceremony on Tuesday, 9 April 2024. It will help Frasers Property on its net-zero carbon journey and is aligned with the spirit of the commitments made by over 100 countries, including Singapore, at the United Nations’ COP28 summit1 to triple renewable…
Hoang Thinh Dat Corporation and China-based Hainan Drinda New Energy Technology have signed a Memorandum of Understanding (MoU) concerning investment in the Hoang Mai II Industrial Park project. As part of the MoU, Hainan Drinda New Energy Technology Co., Ltd., specializing in high-performance photovoltaic cells manufacturing, plans to establish a cutting-edge facility within the Hoang Mai II Industrial Park. This endeavor signifies the company’s strategic focus on the Southeast Asian market, with Vietnam being a prime investment destination. The collaboration aims to leverage advanced technology and foster employment opportunities, with projections indicating the creation of over 4,000 jobs upon operational…
SUSI Partners, through the SUSI Asia Energy Transition Fund, has entered into an investment agreement with experienced Southeast Asian developer Alba Renewables to support the development, construction, and operation of utility-scale, ground-mounted solar PV and onshore wind projects in the Philippines. The transaction will see SUSI participate in the buildout of a regional utility-scale renewables platform with a focus on the Philippines while supporting Alba’s broader growth plans across Southeast Asia. SUSI’s investment will focus on funding the construction of designated projects over the next 24 months and enable Alba to upscale their development activities and operational capacity. Benefitting from…
Honda Philippines, Inc. (HPI) has announced the inauguration of its 1.056 MW rooftop solar power project in partnership with Skye Renewables. This collaboration with Skye Renewables, now entering its operational phase at HPI’s manufacturing plant in Tanauan, Batangas, marks a crucial step towards achieving the company’s global carbon neutrality goal by 2050, stated Honda in a statement. On partnership with Skye Renewables, President of Honda Philippines, Inc., Sayaka Arai-Hattori, emphasised the company’s commitment to environmental responsibility, stating, “We are not just a company that manufactures and sells products; we strive to be a positive force for society.” She added, “This…
Jentayu Sustainables Berhad has announced that Project Oriole has progressed further in its approval process as they have now received an Initial Letter of Notification (ILON) from the Energy Commission of Sabah (ECOS), representing the state government of Sabah while they have also received a key approval with conditions from the Securities Commission regarding the acquisition of Telekosang Hydro (40MW) and Jentayu Solar (5.99MW) assets. Project Oriole Project Oriole is a RM 2.8 billion 170 MW run-of-river hydropower plant that will be located in Sipitang Sabah. It is being developed in line with the Sabah Energy Road Map and Master…
Export-Import Bank of Thailand (EXIM Thailand) and GreenYellow Thailand and Asia have signed a pact regarding a credit facility agreement worth 1,109 million baht, benefiting GreenYellow Solar 3 (Thailand) Co., Ltd. (GY3). The signing ceremony took place at EXIM Thailand’s Head Office. Dr. Rak Vorrakitpokatorn, President of the Export-Import Bank of Thailand (EXIM Thailand), and Mr. Frank Glück, Chief Executive Officer of GreenYellow Thailand and Asia have signed the pact at the ceremony. EXIM Thailand’s President highlighted that this financial facility is geared towards amplifying the role of world-class energy businesses in solar cell system investments, installations, operations, and maintenance…
Nepal Electricity Authority (NEA) sought financial aid from the Asian Infrastructure Investment Bank (AIIB) to actualize its ‘Energy Development Roadmap and Action Plan 2023.’ In a meeting held between the AIIB’s board of directors and the NEA Managing Director Kulman Ghising, they requested the bank to increase investment for electricity infrastructure improvement and expansion of projects. According to the NEA, Ghising requested the AIIB delegates to provide the power utility with concessional loans for the project. Ghising said large investments are required to build production, transmission, and distribution structures for adequate, reliable, quality, and safe electricity supply, to expand electricity…
BCG Energy, Bamboo Capital Vietnam member, recently signed a cooperation agreement with SK ecoplant, a subsidiary of SK Group, and a renewable energy investor. They collaborated to build a solar and wind power plant with a capacity of 700MW in Vietnam. They signed a deal in Seoul on March 22, after which the two companies can jointly develop the 700MW project. This deal was designed to consist of 300MW of onshore wind power, 300MW of rooftop solar power, and 100MW of onshore solar power. Till December 2023, BCG Energy has operationalized a neared 700MW renewable energy capacity. The company plans…