Amogy has raised $23 million in new funding to grow its ammonia-to-energy technology in South Korea. The company plans to expand its work in the shipping and stationary power sectors. The funding round was led by Korea Development Bank and its U.S. subsidiary KDB Silicon Valley LLC. Other investors include BonAngels Venture Partners, Pathway Investment, and JB Investment. With this latest round, Amogy’s total funding has reached nearly $300 million. Ammonia is being developed as a fuel source because it can carry hydrogen more efficiently than other methods. Hydrogen is being explored in many countries as a way to reduce…
Author: Lakshita Kapoor
CIMB Group Holdings Berhad , Malaysia wants to reach a sustainable finance target of $70.59 billion (RM 300 billion) by 2030. The goal is to help pay for green projects across ASEAN, including Malaysia. Since 2021, CIMB has been working on its sustainable finance plans. In 2021, the target was $7.06 billion (RM 30 billion). Later, it was raised to $23.53 billion (RM 100 billion) for the period from 2021 to 2024. The new target means CIMB wants to give more loans for projects that help the environment. The bank says the money will support energy transition ideas, clean energy,…
The Dagohoy Solar Power Plant in Bohol will start its commercial operations on 16 July. This is the first large solar plant for the province. The plant has a capacity of 27.121 megawatts direct current (MWDC). The Energy Regulatory Commission gave its approval on 4 July. The Independent Electricity Market Operator of the Philippines also gave its go-ahead on 8 July. This means the plant can now participate in the Wholesale Electricity Spot Market (WESM). Dagohoy Solar Power Plant is under Rizal Green Energy Corp. (RGEC). RGEC is owned by PetroGreen Energy Corporation and Japan’s Taisei Corporation. This is one…
Ørsted has confirmed it secured about TWD 90 billion for its offshore wind project in Taiwan. This funding supports the Greater Changhua 2 offshore wind farm. Ørsted arranged the project financing. It has support from five export credit agencies. These include agencies from Norway, Denmark, Korea, Taiwan, and the UK. Greater Changhua 2 has two parts. One part is Greater Changhua 2a. It is already running. The other part, Greater Changhua 2b, is under construction. It is planned to start sending power by late 2025. Together, these two parts will deliver 632 megawatts of power. They sit about 50 to…
MTerra Solar in the Philippines has completed more than half of its first phase. Meralco PowerGen Corporation shared that 778 megawatts of solar panels are now installed. The original plan for this first phase was 750 megawatts. MTerra Solar sits in Nueva Ecija and Bulacan. This solar power site is planned to reach 3,500 megawatts when done. It will also have battery storage. The battery energy storage for MTerra Solar will reach about 4,500 megawatt-hours when fully running. The power from the project will connect to the Nagsaag-San Jose Transmission Line through a new 500-kiloVolt link. This should help bring…
Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim has said Malaysia supports Vietnam’s idea for an ASEAN Power Grid. This plan would connect energy systems between ASEAN countries. Anwar met Vietnam’s Prime Minister Pham Minh Chinh to discuss this plan. He said Malaysia supports new renewable energy projects in southern Vietnam. This could include seabed cables to connect power lines. Malaysia sees the ASEAN Power Grid as one way to help with energy security and economic growth. Anwar said he will talk more about this with Vietnam’s Prime Minister at the ASEAN Summit in October. During this visit, Anwar also spoke…
The Philippines’ Department of Energy has confirmed the list of companies that will build new renewable energy projects under the third round of the Green Energy Auction, or GEA-3. These bidders sent written acceptance to show they agree to carry out their projects. One company is Pan Pacific Renewable Power Philippines Corporation. Pan Pacific will build three new hydroelectric power plants. Two of these are called impounding hydro plants. One is the Gened 1 project, which will have a capacity of 150 megawatts. The second is Gened 2, also with a capacity of 150 megawatts. The third project is the…
Deep Wind Offshore has announced that it has received its first Electricity Business License for an offshore wind project in South Korea. This license covers the Admiral Lee Offshore Wind Project. The project has a planned capacity of 345 megawatts. It is located off the coast of Yeosu, Jeollanam-do. The license allows Deep Wind Offshore to start the next steps. These include an Environmental Impact Assessment and an Implementation Plan Approval. The project is planned in partnership with Korea Hydro & Nuclear Power. This company is South Korea’s biggest power producer. The partners signed an agreement for this project in…
Indonesia will soon start building a large battery integration project. The plan is backed by Contemporary Amperex Technology Co., Limited. In an official statement, the company said that its unit, Guangdong Brunp Recycling Technology Co., Ltd., will work with partners through Ningbo Contemporary Brunp Lygend Co., Ltd. The project site is in Karawang, West Java Province. It will cover more than 2,000 hectares across different sites. It combines nickel mining, battery materials production, battery manufacturing, and battery recycling. Nickel mining and processing will take place at the FHT Industrial Park in East Halmahera, North Maluku Province. The battery manufacturing will…
A new solar power plant is now running in Yamaguchi Prefecture, Japan. The developer is Spain-based X-ELIO. The solar plant is called the Funaki solar facility. It is built on land that used to be a golf course in the city of Ube. The plant has an installed capacity of 14 megawatts. Each year, it is expected to produce about 17,245 megawatt-hours of electricity. The electricity will be sold through a 20-year power purchase deal with Amazon. X-ELIO says this new solar plant adds to its other projects in Japan. So far, the company has built about 393 megawatts of…