Author: Chitrika Grover

ACEN, GenZero and Keppel Ltd. (Keppel) have signed a Memorandum of Understanding (MOU) to jointly explore the origination and utilisation of Transition Credits (TCs) to accelerate the retirement of the South Luzon Thermal Energy Corporation (SLTEC) coal-fired power plant (CFPP) in Batangas, the Philippines, and replace it with a clean energy despatch facility. When completed, this project is expected to be one of the first converted CFPPs in the world to generate TCs. This pioneering initiative reflects the shared commitment of the partners to accelerate the orderly and just transition to clean energy in Southeast Asia.CFPPs are the single largest…

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Renewable energy is becoming a crucial factor for national competitiveness, influencing geopolitical influence, national security, industrial leadership, access to financing, and public well-being. According to the recent report by  International Institute for Energy Exconomics and Financial Analyisis (IIEFA).  The report found that, despite pledging to achieve net-zero emissions by 2050, South Korea’s renewable energy accounted for only 9.64% of its power generation mix in 2023, significantly below global averages. South Korea’s 11th Basic Plan for Long-Term Electricity Supply and Demand (BPLE) still prioritizes fossil fuels and speculative Small Modular Reactors (SMRs), even though the country aims to reduce its reliance…

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TotalEnergies Marine Fuels, a TotalEnergies’ dedicated business supplied its first B100 biofuel bunker on 5 August in Singapore, expanding itself into low-carbon fuels as it supports the decarbonization goals of global shipping.TotalEnergies Marine Fuels used an IMO Type II chemical bunker tanker, MAPLE, owned by Global Energy Group, to transfer 700 metric tons (mt) of the 100% Used Cooking Oil Methyl Ester (UCOME-based) biofuel to a Pure Car and Truck Carrier (PCTC), Glovis Cosmos, which is owned by Hyundai Glovis. The UCOME biodiesel supplied is a second-generation, waste-based fuel sourced in Southeast Asia. This circular economy approach minimizes competition with…

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With the support of the Royal Government of Bhutan and the Government of India, Tata Power, one of India’s largest integrated power companies, has entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC) of Bhutan for the development of the 600 MW Khorlochhu Hydropower Project. The Project is located in the Trashiyangtse Dzongkhag (District) in Eastern Bhutan on the Kholongchhu river. While the clean power from the project will help meet Bhutan’s increasing electricity requirements, it will also complement and contribute to India’s energy transition to renewables. The partnership involves a 40% equity investment by Tata Power…

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Sembcorp Industries (Sembcorp) posted a turnover of S$3.2 billion and Group net profit before exceptional items (EI) of S$532 million for the first half of 2024 (1H2024), compared to S$3.7 billion and S$602 million respectively in 1H2023. Group net profit after EI and discontinued operation was S$540 million, 2% higher compared to S$530 million in 1H2023.Net profit before EI for the Gas and Related Services segment was S$339 million, compared to S$435 million in 1H2023. Excluding the planned major maintenance for the Singapore cogeneration plant in 1H2024, earnings for the segment remained resilient despite a decline in Singapore wholesale power…

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Indonesia urgently needs US$146 billion in near-term private investments to meet its 2030 climate targets, necessitating substantial policy reforms to boost investor confidence, according to a recent Institute for Energy Economics and Financial Analysis (IEEFA) report. Despite abundant renewable energy potential and robust economic growth, Indonesia has seen stagnation in renewable energy investment over the past seven years. In 2023, it attracted only US$1.5 billion, adding a mere 574 megawatts (MW) of capacity. This falls far behind neighboring countries like Vietnam, which boasts 13,035MW of solar and 6,466MW of wind capacity. The report identifies several barriers hindering investment, including complex…

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Michael Tardif, a Chambers Band 1-ranked project finance advisor with a focus on Indonesia and the Asia region, joins Orrick as a partner in Singapore. Michael represents sponsors and lenders in complex financing transactions, including working with PT Pertamina (Persero), Indonesia’s state-owned energy company, and its related companies; top-tier sponsors from Japan, Korea and the Middle East; and key regional multilateral lenders and export-credit agencies such as Asian Development Bank, International Finance Corporation and Japan Bank for International Cooperation. He advises a broad range of industry participants in transactions involving the conventional power, renewable energy, infrastructure and mining sectors across…

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SingHealth, Singapore’s public healthcare provider, plans to install 300 EV charging points at its facilities by 2028. It has collaborated with state-owned electricity and gas distribution company SP Group for the new decarbonisation initiative.The first twelve chargers have already been installed at the SingHealth Tower at the Singapore General Hospital (SGH) Campus. Both visitors and staff at SingHealth Tower can use the new EV chargers. According to local media, these have an output of 7.4 kW. Charging an EV like the BYD Atto 3 for an hour using these chargers would thus add approximately 50 km of range. The cost…

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With funding from the European Union (EU), the Aga Khan Foundation (AKF) has launched Energy Plus – a new program fostering a climate-resilient and low-carbon economy and society in northern Pakistan.The €35m ($38m) program aims to improve access to clean energy for more than 350,000 people in Gilgit-Baltistan and Chitral. It will prioritize underserved communities with limited or no access to sustainable and reliable energy and those unlikely to be reached by the national electricity grid soon.While Pakistan has made progress in increasing its electrification rate, significant disparities persist in access and reliability. All of the urban population has some…

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EGAT, AIT, and CSU collaborate to study and develop low-cost, easy-to-recycle Edge Sealed Modules (ESMs), with the plan to test their efficiency in power generation at Sirindhorn Dam. On July 15, 2024, Thidade Eiamsai, Deputy Governor – Power Plant Development and Renewable Energy of the Electricity Generating Authority of Thailand (EGAT); Prof. Nitin Tripathi, Acting Vice President for Academic Affairs, Asian Institute of Technology (AIT); and Prof. Kenneth F. Reardon, Associate Dean for Research of Walter Scott, Jr. College of Engineering, Colorado State University; signed a Memorandum of Understanding (MOU) online to study the potential of ESMs in the areas…

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