Danish clean energy company Ørsted announced that it has completed the sale of a 50% stake in the 583-megawatt (MW) Greater Changhua 4 offshore wind project in Taiwan. The stake was sold to an affiliate of Cathay Life Insurance, a local insurance company, for DKK 11.6 billion (USD 1.64 billion/EUR 1.56 billion). The sale was first announced on December 11, 2023. Ørsted retains ownership of the other 50% of the project, which is currently under construction. Greater Changhua 4 is part of the larger Greater Changhua complex, which will have a total capacity of 1.82 gigawatts (GW) when all projects…
Author: Lakshita Kapoor
The Lhasa Phase II Waste-to-Energy (WtE) Plant, developed and operated by SUS Environment, started operations in November 2024. The plant is located in Lhasa, China, one of the highest-altitude cities in the world, where low temperatures and oxygen levels present challenges for waste incineration. The plant can process over 290,000 tons of waste each year and generate about 150 million kilowatt-hours (kWh) of electricity annually. This amount of electricity is estimated to meet the yearly needs of 60,000 households. The plant’s design incorporates elements of Tibetan culture to blend with the local surroundings. SUS Environment reports that Tibetan employees make…
Nexif Ratch Energy announced that its San Miguel Bay Wind Project has received the Certificate of Energy Project of National Significance (CEPNS) from the Philippines’ Department of Energy. The certificate allows the 500-megawatt (MW) offshore wind project to fast-track regulatory approvals. It will streamline coordination between government agencies and local government units (LGUs). The project is located in San Miguel Bay, Camarines Sur. In addition to this, the company’s Lucena Wind Power Project, a 475 MW offshore wind development in Quezon Province, has been awarded the Green Lane Certificate. The certificate was granted by the Board of Investments and classifies…
Aboitiz Renewables Inc. (ARI), the renewable energy subsidiary of Aboitiz Power Corporation (AboitizPower), has launched its 173-megawatt peak (MWp) Calatrava Solar Project in Negros Occidental, Philippines. The project is the largest solar facility to date in Aboitiz Power’s solar energy portfolio. The Calatrava Solar Project is the fifth solar facility activated by AboitizPower. The company has been expanding its renewable energy portfolio, which now includes several solar, geothermal, and battery storage projects. In addition to the Calatrava Solar Project, AboitizPower recently commissioned two other major solar projects in the Philippines. These include the 159 MWp Laoag Solar Plant and the…
Mingyang has announced the start of operations for OceanX, the world’s largest single-capacity floating wind power platform. The platform is located at the Yangjiang Qingzhou IV offshore wind farm in Guangdong, China. OceanX features two offshore wind turbines, each with a capacity of 8.3 megawatts (MW). Together, the turbines provide a combined capacity of 16.6 MW. The turbines stand 219 meters tall, span 369 meters in width, and displace 15,000 tonnes of water. The turbines are equipped with counter-rotating blades that improve power generation efficiency by 4.29%. The energy produced by the platform is expected to provide electricity to approximately…
Japan Petroleum Exploration Co., Ltd. (JAPEX) and IINO Kaiun Kaisha, Ltd. have announced a partnership to develop solar power plants with a total capacity of 30 megawatts by 2030. Both companies signed a memorandum of understanding for the project, which aims to support emissions reduction goals. The electricity produced from these solar plants will help IINO reduce greenhouse gas emissions from its buildings by using renewable energy. JAPEX is focusing on solar energy as part of its strategy to achieve net-zero emissions by 2050. IINO also plans to reach carbon neutrality by 2050 and reduce its Scope 1 and Scope…
The Asian Development Bank (ADB) has approved a $30m Small Expenditure Financing Facility (SEFF) for the Ceylon Electricity Board (CEB) to boost the sustainability of energy projects in Sri Lanka. This is Sri Lanka’s first SEFF, designed to support the operational sustainability of ADB-financed energy projects, promote initiatives to increase the share of renewable energy, and encourage private sector participation in the renewable energy sector. The facility will fund post-completion activities of ADB-backed projects, feasibility studies for advanced renewable energy technologies, preparatory work for transmission and distribution upgrades, and capacity building in emerging technologies. Half of the $30m will be…
Malaysia to start its first cross-border renewable energy (RE) trade with Singapore this month. The project, with a capacity of 50 megawatts (MW), is part of a renewable energy initiative led by Malaysia’s Ministry of Energy Transition and Water Transformation (PETRA). The electricity supply will be handled by Tenaga Nasional Berhad (TNB), Malaysia’s national utility company. It will deliver the renewable energy to Singapore’s Sembcorp Power Pte Ltd (Sembcorp Power) through the existing interconnection network between the two countries. The renewable energy supply comes from a competitive bidding process conducted by Energy Exchange Malaysia (ENEGEM) in June. ENEGEM facilitates the…
BECIS (BE C&I Solutions Holding Pte. Ltd.) headquartered in Singapore announced $53 million in new equity financing from its existing shareholders. These shareholders include FMO, KLP Norfund Investments, Pula Investments (represented by Berkeley Energy), and Siemens Financial Services. The funding will support BECIS in expanding its decarbonization solutions across its eight operating markets namely India, Thailand, Indonesia, Vietnam, the Philippines, Malaysia, China, and Cambodia. BECIS specializes in renewable energy services such as Solar and Bioenergy, while also expanding into Cooling and Heating services under its New Solutions portfolio. The company plans to use the funding to achieve its target of…
Swift Energy Technology Bhd is preparing to raise RM70.06 million ( approx 16 million USD) through its initial public offering (IPO). Shares will be offered at 28 sen each, and the company is set to be listed on the ACE Market on January 8, 2025. The Energy Technology Bhd is a provider of industrial automation and power systems with HQ in Malaysia. The funds raised by the company will be used to support several initiatives. Approximately 40%, or RM28 million, will go toward expanding the company’s fabrication facility, increasing storage capacity, and building a new research and development (R&D) center…