The Energy Information Administration (EIA) recently reported Japan’s energy policies aim to reduce fossil-fuel use in electricity generation. This policy is the first part of a two-part series on Japan’s energy policies in the electric power sector. These policies affect generation from non-fossil fuel sources, namely renewable sources from nuclear generation. EIA reported that these policies target to reduce the natural gas-fired generation share in Japan’s power generation from 34% in 2022 to 20% by 2030. Japan in 2022 consumed less natural gas than in 2009, due to slower economic growth, less industrial demand, high international LNG prices, and continued improvements…
Author: Chitrika Grover
A recent report from energy think tank EMBER said that Singapore’s heavy reliance on gas-based electricity could be cut down with the expected rise of renewables in the country. The report said that based on its calculations, the share of electricity from gas would drop from 92% in 2022 to 61% by 2035. This was attributed to the rise of renewable energy on the Southeast Asian country. “Based on Ember’s calculation, this would mean the share of electricity from gas would drop from 92% in 2022 to 61% by 2035 as renewables are increasingly imported to meet demand. Being on…
The Asian Development Bank (ADB) recently signed a $121.55 million financing package with Dynamic Sun Energy Private Limited. This collaboration is undertaken to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, Bangladesh. The plant is the country’s first private sector utility-scale solar facility to secure support from global financiers. ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner. The financing package comprises a $46.75 million loan from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, an Amsterdam-based emerging market private credit fund focused on supporting…
Prime Minister Lee Hsien Loong recently spoke at a joint press conference with Indonesian President Joko Widodo at the Singapore-Indonesia Leaders’ retreat held in Bogor, Indonesia. At the event, they shared their views on the increased cooperation in green economy between the countries. They spoke about the progress made in the bilateral relations over the past decade between Singapore, in partnership with President Jokowi and his team. Prime Minister (PM) Lee Hsien Loong at the Joint Press Conference with Indonesian President Joko Widodo said, “We look forward to Indonesia driving the green economy in our region. He added, “Bilaterally, we…
Sembcorp Industries announces that its wholly-owned subsidiary, Sembcorp Power Pte Ltd, has signed two long-term power purchase agreements (PPAs) with subsidiaries under Equinix, Inc. for its data center portfolio in Singapore. Under the PPAs, Sembcorp Power will supply a maximum capacity of 75MWp from its renewable energy portfolio and 30MW from its power generation portfolio to Equinix for up to 18 years. This is Equinix’s first renewable energy PPA in Singapore, and supply will be sourced from Sembcorp’s solar assets. Sembcorp is currently the largest solar energy provider with a portfolio of 727MWp in Singapore. As a renewables player in…
Nebula Energy and Gogoro Inc a battery-swapping firm recently, launched Gogoro Battery Swapping, along with Gogoro CrossOver GX250 Smartscooter in Nepal. The announcement was made at a media event in the city of Kathmandu, Nepal, where the first battery-swapping station is located. Nebula is an authorized and exclusive partner of Gogoro Inc. Taiwanese-based Nebula, announced at a media event in Kathmandu, Nepal, the launch of its first battery-swapping station with Delhi-based Gogoro Battery Swapping Center. Nebula is an authorized and exclusive partner of Gogoro Inc. “Gogoro is at the forefront of sustainable urban transportation and together we plan to contribute to…
The Asian Development Bank (ADB) and Buskowitz Solar Inc., signed a $12 million (equivalent to 675 million Philippine pesos). This deal was undertaken to support clean and affordable solar energy for commercial and industrial consumers in the Philippines. Buskowitz Solar a subsidiary of Buskowitz Energy Inc. and Asian Development Bank project is expected to generate 88 gigawatt-hours of clean electricity annually and reduce 54,000 tons of carbon dioxide equivalent emissions. The financing will support the development, construction, and operation of multiple solar panel systems on the rooftops of commercial and industrial buildings across several provinces of the Philippines. Installations are…
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…
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…