Sapura Energy Berhad’s (Sapura Energy) wholly owned subsidiary, Sapura Upstream Assets Sdn Bhd (SUA) entered into a conditional Sale and Purchase Agreement (SPA). This agreement was undertaken to divest 50 percent equity interest in SapuraOMV Upstream Sdn Bhd (SapuraOMV) to TotalEnergies Holdings SAS (TotalEnergies). Sapura Upstream Assets (SUA) is expected to receive a cash consideration of USD 530.3 million (equivalent to approximately RM 2,534.5 million) for the transaction from TotalEnergies. Additionally, Sapura Energy will be relieved by TotalEnergies of a USD175 million obligation in respect of a financing facility extended by OMV Exploration & Production GmbH (OMV E&P) to SapuraOMV. This is in connection with the share subscription…
Author: Chitrika Grover
Trina Solar and Philippine renewable energy developer PetroGreen signed a master supply agreement (MSA) to facilitate the Philippines’ solar energy expansion. Trina Solar, a global leader in smart PV and energy storage solutions, and Philippine renewable energy developer PetroGreen Energy Corporation (a subsidiary of publicly-listed PetroEnergy Resources Corporation, a member of the Yuchengco Group of Companies) signed a master supply agreement (MSA) to facilitate the Philippines’ solar energy expansion. Under the MSA, Trina Solar is expected to supply 117MW of high-performance PV solar modules to various projects in the Philippines spearheaded by PetroGreen’s subsidiary, Rizal Green Energy Corporation (RGEC).Combining Trina…
Japan’s Energy for a New Era (JERA), the country’s largest power company, announced the creation of JERA Nex Limited (JERA Nex), and its headquarters will be located in the United Kingdom. JERA is expected to develop, invest in, own, and operate a range of renewable energy assets. It includes offshore and onshore wind, solar, and battery storage. As the second-largest offshore wind market and a global leader in renewables development, the United Kingdom is expected to become home to JERA Nex’s global headquarters. JERA Nex can leverage the UK’s expertise in financing and developing renewables projects, as well as draw…
China based solar panel manufacturer, LONGi, partnered with Philippines based Netsolar to install modules on Shell gas stations. By installing solar panels throughout the Philippines, it claims to transform gas stations into green-energy-powered facilities.In the Philippines, coal-fired power plants contribute 60% of the nation’s electricity. This 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 40%.For gas stations, safety is the top priority. LONGi has adopted Hi-MO X6…
British International Investment (BII), the UK’s development finance institution and impact investor, and FMO, the Dutch entrepreneurial development bank, recently announced a joint loan commitment of US$50 million to BECIS, a leading energy-as-a-service (EaaS) provider in South-East Asia. BECIS offers a wide array of services, such as rooftop solar, bio energy and energy efficiency solutions, tailored to meet the diverse needs of businesses and communities across Asia. With a strong commitment to sustainability, BECIS leverages advanced technologies and strategic partnerships to optimize energy consumption, drive the adoption of renewable energy sources, enhance operational efficiency, build resilient energy infrastructure, and promote…
In a recent visit by South Korean Ambassador, Miyon Lee called on Sri Lankan Prime Minister Dinesh Gunawardna at the Prime Minister’s Office (PMO) in Colombo. In the meeting the followed up with actions on the decisions taken at the discussions held during the Prime Minister’s visit to Korea last week. Some areas South Korea include floating solar panel instalment on Chandrika Wewa in Rathnapura district as a pilot project in renewable energy. She said three projects on water treatment, sanitation, sewage disposal systems and dry zone agriculture have already been implemented. During these discussions, S.Korea agreed to increase support…
United States Agency For International Development (USAID) and Urja Nepal recently inaugurated 23 new electric vehicle charging stations across seven locations in Bagmati province in Nepal. They also developed mobile electric vehicle (EV) chargers among these charging stations.This initiative supports Nepal’s target to increase electric vehicle (EV) sales to cover 90 percent of all private vehicles and 60 percent of all public vehicles by 2030. It can also help to achieve the target to reduce the nation’s reliance on fossil fuels and promote a more sustainable transportation sector.“USAID Nepal’s commitment and support to promoting electric mobility is second to none…
Philippines based solar company, Solar Philippines and its Indonesian partner secured a $14-million bank loan for the development of a 25-megawatt (MW) solar farm in Kubu District, Karangasem Regency, East Bali.Recently, PT Medco solar Bali Timur, a joint venture with Medco Energi, Indonesia’s independent oil and gas exploration and production company, signed a financing deal with Bank Negara Indonesia (BNI). The loan agreement was signed between Solar Philippines Chief Executive Officer (CEO) Leandro Leviste and BNI senior vice president Ditya Maharhani Harninda, as well as Medco Power president and CEO Eka Satria and Medco chief financial officer Myrta Sri Utami.BNI…
Malaysia’s Ministry of Energy and Natural Resources has announced the fifth round of the large-scale solar (LSS5) tender. The tender by the Malaysian government mentioned four packages with permitted generation capacities ranging from 1 MW to 500 MW. The 2 GW is up available for more than the capacity available under the fourth round of the scheme in 2021. The tender mentioned, “The first package includes 250 MW of rooftop or ground-mount solar plants, with permitted generation capacities of 1 MW to 10 MW. It is available to companies having at least 51% Bumiputera ownership (which refers to the Malay…
ACEN Renewable Energy Solutions (ACEN RES), a retail electricity supply unit of ACEN and the Ayala Group retail electricity supply unit, was selected by Cermatex Manufacturing Corporation, a Cebu-based casual footwear manufacturer, to provide renewable energy to their operating plants. The partnership ACEN is a leap in corporate sustainability as the partnership ensures that Cermatex’s facilities are claimed to be powered by a 100% renewable energy mix, that aligns with global environmental targets and responds to the growing consumer demand for responsibly produced goods.Leveraging the Retail Competition and Open Access program, Cermatex is now powered by clean energy from ACEN’s…