Indonesia plans to retire 3 GW of coal power annually and increase renewables to 65% of its energy mix by 2040. This target, announced during the G20 summit, is part of the country’s efforts to reduce carbon emissions and transition to cleaner energy. It also aligns with Indonesia’s net-zero emissions goal, which was recently brought forward to 2050 from 2060. The shift away from coal poses challenges, as coal has historically dominated Indonesia’s energy supply. The domestic coal price mandate has allowed the country’s state utility company, PLN, to rely heavily on coal for low-cost electricity. Transitioning to renewable energy…
Author: Lakshita Kapoor
Sungrow hosted the Southeast Asia Renewable Energy Summit at its headquarters last week. The event included companies from Southeast Asia to explore renewable energy solutions and discuss industry developments. The summit included presentations, technology showcases, site visits, and discussions about energy storage and hydrogen technologies. Present companies visited Battery Energy Storage System (BESS) manufacturing plant, and hydrogen energy facility. The showroom included Sungrow’s innovations in renewable energy, including high-efficiency inverters, advanced BESS, and hydrogen energy solutions. These technologies are designed to support renewable energy adoption and ensure grid reliability. Energy storage systems store excess electricity from renewable sources, such as…
Geely Auto Group officially launched its new battery electric SUV, the GEELY EX5, in Hong Kong on December 5, 2024, during the International MotorXpo Hong Kong (IMXpo). The GEELY EX5 was introduced in China earlier this year in August under the name Galaxy E5. It is the first electric SUV in Geely’s Galaxy series, built on the Geely Galaxy Electric Architecture (GEA) platform. The vehicle is designed aimed at meeting demand for compact electric SUVs. The model gained a positive response amassing over 50,000 deliveries countrywide. The new EV is equipped “11-in-1 intelligent electric drive system.” This system combines components…
Copenhagen Infrastructure Partners (CIP) has entered into a corporate power purchase agreement for its Fengmiao I Offshore Wind Farm. The agreement was signed with Sino American Silicon Products Inc. and its renewable energy unit Sustainable Energy Solution. The Fengmiao I Offshore Wind Farm is located 35 kilometers off the coast of Taichung City, Taiwan. The project will feature 33 wind turbines with a total capacity of 500 megawatts. The wind farm is expected to be completed by late 2027. Once operational, the Fengmiao I Offshore Wind Farm will supply green power to Taiwanese companies. The power purchase agreement is a…
The Asian Development Bank (ADB) and Muktagacha Solartech Energy Limited (MSEL) have entered into a financing agreement worth $24.3 million to construct a grid-connected solar photovoltaic (PV) power plant in Mymensingh, Bangladesh. The project aims to increase the share of renewable energy in the country’s power mix. According to the agreement, ADB will provide a loan of $15.5 million, while Leading Asia’s Private Infrastructure Fund 2 will provide an additional $8.8 million loan. ADB acted as the sole mandated lead arranger for the financing package. The financing will be used to build and operate a 20-megawatt grid-connected solar power plant.…
The US Commerce Department has announced a new round of tariffs on solar panel imports from four Southeast Asian countries. The tariffs are in response to complaints from American manufacturers that companies in these countries are selling solar panels at unfairly low prices. The tariffs will be imposed on solar panels from Malaysia, Cambodia, Vietnam, and Thailand. The Commerce Department calculated dumping duties of between 21.31% and 271.2% on solar cells from these countries. The duties will vary depending on the company. Jinko Solar, a Chinese company, will face duties of 21.31% for products made in Malaysia and 56.51% for…
The Japanese government has set a target to produce 20 gigawatts of electricity using a new type of solar cell by 2040. This amount of electricity is equivalent to the output of 20 nuclear reactors. The solar cells, known as perovskite solar cells, are a promising technology for generating electricity from sunlight. They are made using a special type of material that is good at converting sunlight into electricity. Japan’s Ministry of Economy, Trade and Industry is promoting the use of perovskite solar cells as part of its plan to increase the country’s use of renewable energy. The goal is…
Yinson Renewables, a green financing facility has been secured for the Matarani solar project in Peru. The US$59 million senior secured financing was provided by IDB Invest. The solar project is a 97 MWp solar plant located near Arequipa, Peru. The project is backed by a long-term power purchase agreement with Orygen, a renewable energy supplier and generator in Peru. This project is an achievement for Yinson Renewables, Malaysia in Latin America, as it is the first non-subsidized operational solar plant to be financed through a green project finance facility in Peru. Yinson Renewables is a leading player in the…
Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof stated that Malaysia can adopt new technologies and innovations from China. Fadillah, who is also the Deputy Prime Minister, said that, “collaboration with China is important for Malaysian companies. This collaboration allows local companies to use Chinese technology for sustainable growth.” China has made progress in its energy transition. According to the International Energy Agency, China’s renewable energy capacity is expanding at a rate of 12% per year. Fadillah said that Malaysia can learn from China’s efforts. Malaysia can adopt best practices for a fair and equitable energy transition. This…
The Asian Development Bank (ADB) has signed an $820m loan with Gulf Renewable Energy Company Limited to finance the construction of 12 renewable energy projects in Thailand. The projects include eight ground-mounted solar photovoltaic (PV) plants and four ground-mounted solar PV plants with battery energy storage. The solar PV plants will have a contracted capacity of 393 megawatts (MW) and the plants with battery energy storage will have a contracted capacity of 256 MW and 396 MW-hours of energy storage. The projects are part of Thailand’s plan to increase its renewable energy generation to 50% by 2037. The $820m financing…