Citicore Renewable Energy Corporation (CREC) from the Philippines has agreed to a $120 million deal with Pertamina New & Renewable Energy (Pertamina NRE) from Indonesia. Under the agreement, Pertamina NRE now owns 20% of CREC. This is Pertamina NRE’s first investment in a renewable energy company in the Philippines. The two companies also agreed to work together on new renewable energy projects in Indonesia. These will focus on solar and wind power. They may also explore joint efforts in carbon credits. CREC operates 287 megawatts (MW) of solar power across the Philippines. It has plans to grow its total renewable…
Author: Lakshita Kapoor
Between 2018 and 2023, Vietnam added over 21,000 megawatts (MW) of solar and wind capacity. This increase was supported by feed-in tariffs (FiTs) and brought in both local and joint venture investments. Nearly 58% of the funding came from domestic sources. Vietnam became the largest solar power producer in Southeast Asia during this period. Electricity costs for the utility Vietnam Electricity (EVN) also increased. Power purchase payments went from $4.5 billion in 2018 to $11.5 billion in 2023. EVN’s revenue did not grow as fast. The utility reported over $1 billion in losses in 2023. Electricity retail prices remained regulated…
A large solar project is being built in Saudi Arabia backed by a bank in Korea. It will produce 2,000 megawatts (MW) of electricity. The project is in the Sadawi region, about 523 kilometers north of Riyadh. The Export-Import Bank of Korea has agreed to finance $225 million for the project. The plant is being developed by a group of companies. This group is led by Masdar, a company based in the UAE. Other partners include Korea Electric Power Corporation (KEPCO) and China’s GD Power. The solar power station will use around 3.7 million solar panels. These will cover an…
Aslan Energy Capital and Jakarta Industrial Estate Pulogadung (JIEP) have signed a head of agreement to build a new data centre in East Jakarta, Indonesia. The project is called the Aslan Jakarta Data Centre, or AJDC. The planned facility will have a power capacity of 40 megawatts. It will be located inside the JIEP industrial zone and is scheduled to be operational by the fourth quarter of 2027. The centre will support up to 7,000 server racks. The data centre will also include a battery energy storage system with 120 megawatt-hours of capacity. The battery system will store electricity for…
Kashgar, China now has more than 10.2 gigawatts (GW) of installed solar capacity. This figure comes from the State Grid Kashgar Power Supply Company. It represents 75.7% of the city’s total installed power capacity. The new total makes Kashgar the first area in Xinjiang to complete a solar-only power base above the 10 GW level. The solar projects are supported by local desert and Gobi terrain. These landscapes are being used for utility-scale energy projects. Kashgar gets over 2,800 hours of sunlight each year. According to the local power company, the area’s total solar potential could reach up to 200…
Sembcorp Industries has announced a new clean energy project that it will develop and operate in India. The company, through its unit Sembcorp Green Infra Private Limited, will develop and operate a 50 megawatt (MW) renewable energy project. The contract was awarded by the Solar Energy Corporation of India Ltd (SECI). This project will supply electricity around the clock. To make that possible, Sembcorp will use different renewable energy sources, including solar, wind, and a battery storage system. The total installed capacity for these sources will reach about 300 MW. The power generated from the project will be sold to…
A new round of rooftop solar systems is on the way to Singapore. Tokyo Electric Power Company Holdings (TEPCO) and logistics real estate group ESR are teaming up on this project. They’ve secured $9.5 million in funding from Taiwan’s Bank SinoPac to get started. The project begins with 10 megawatts (MW) of solar panels spread across rooftops. Later, the plan is to grow the total capacity to 40 MW. The full loan agreement allows for up to $35 million in support. This deal is a first for the TEPCO Group. The financing is being done through a special company set…
Shanghai is hosting the world’s largest solar event this week. The SNEC PV+ Conference is running until Friday. It brings together solar makers, energy experts, and government officials. Around half a million people are expected to attend. But this year’s gathering comes at a time when China’s solar panel shelves are getting full. Production is high. Demand is not keeping pace. This mismatch is causing prices to drop. Solar panel output in May fell by 7% from April. It is expected to fall another 4–5% in June, according to data from Shanghai Metals Market. But even with this dip, Chinese…
In Seoul, South Korea, REPT BATTERO and Hyosung Heavy Industries signed a Memorandum of Understanding (MoU). The agreement focuses on battery energy storage systems. Under the deal, REPT BATTERO will supply 2.5 gigawatt-hours (GWh) of energy storage products. REPT BATTERO will provide battery cells, modules, and direct current (DC) containers. The company will also support Hyosung with system design and quality control. Hyosung Heavy Industries will be responsible for global marketing and regional certifications. The 2.5GWh product supply will be rolled out through this partnership. Both firms aim to increase their share in the global energy storage market. Hyosung Heavy…
Singapore is moving toward importing more clean electricity from other countries through regional power grid connections. The country currently depends on natural gas for almost all of its electricity but aims to diversify. New interconnections, mainly using subsea cables, are part of this shift. Data from Rystad Energy shows that if all proposed cross-border grid projects are completed, they could support up to 25 gigawatts (GW) of renewable energy and energy storage capacity. This includes solar, hydropower, and offshore wind projects across Southeast Asia. The potential investment could exceed $40 billion. By connecting with nearby countries, Singapore could cut up…