The Ministry of Economic Affairs of Taiwan has approved the financial restructuring of the 640-megawatt (MW) Yunling Offshore Wind Farm Project. Project operator Yuneng Wind Power Co., Ltd. has announced the financial restructuring in August 2023. The 640 MW project is expected to be completed in 2024. It may be noted that the project is funded by Skyborn Renewables and its investment partners Total Energies and EGCO Group, and Japan’s Sojitz Corporation. As per the reports, its financing group, which includes over 20 domestic and foreign specialized banks and export credit agencies, has not changed since the initial funds were…
Author: Rashida
A Hong Kong renewable energy firm has launched its proprietary hydrogen-generating technology at a Malaysian university campus to create a circular economy. As per reports, EPRO Advance Technology (EAT) has invented a process to generate hydrogen using their patented silicon material Si+. The start-up can produce the material using recycled silicon from retired solar panels that would otherwise be sent to landfill. “The technology will be used for the world’s first silicon-based hydrogen generator fuelled with silicon to power electric buses on Universiti Malaya’s Kuala Lumpur campus in the second half of this year,” said CEO Albert Lau. “This will provide a whole new…
In order to promote expansion of renewable energy access the Asian Development Bank (ADB) has approved $50.5m worth of loan and grant agreements to the Government of Maldives. The $50.5m loan will cover the ASSURE project for Maldives’ renewable energy. As per the reports, the support consists of $41.5m from the Asian Development Fund, which is designated for ADB’s most vulnerable developing member countries, $8.5m from ordinary capital resources, and $500k from the Climate Change fund. Furthermore, the package will also include $48m of co-financing from the Asia-Pacific Climate Finance Fund, Clean Technology Fund, Japan Fund for the Joint Crediting Mechanism…
In its move towards fulfilling its commitment towards environmental sustainability, Mang Inasal, the Grill Expert in the Philippines, has introduced solar panel-mounted rooftops in select stores. Mang Inasal President Mike V. Castro said, “In line with Jollibee Group’s push for renewable energy, Mang Inasal is taking initial strides towards environmental sustainability. We are grateful for the support of our franchisees in this important initiative, given our highly franchised model.” As per reports, as of December 2023, Mang Inasal has successfully implemented solar panels on the rooftops of its Sindangan and Molave stores in Zamboanga. Hanzel Uy, franchisee of Mang Inasal Sindangan, highlighted…
Denmark based Vestas Wind Systmes has signed a preferred supplier agreement with South Korea based firm Hanwha Corporation E&C Division for the 390MW Shinan Ui offshore wind project in Shinan County, South Jeolla Province, South Korea. The project is being developed by Shinan Ui Offshore Wind, a special purpose company established by Hanwha Corporation E&C Division, SK D&D, and KOEN. Once completed, it will feature 26 V236-15.0MW turbines, which will be installed on fixed foundations in the south-eastern waters of Ui Island. Vestas will also deliver 20 years of operation and maintenance service for the wind farm when it becomes…
Bangladesh is moving steadily towards establishing various renewable sources of energy to cut down its dependability on the expensive sources for electricity generation. But, rooftop solar has struggled to gain traction in Bangladesh, a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) finds. However, a renewed focus and adding 2,000 megawatts (MW) can help the Bangladesh Power Development Board (BPDB) save up to Bangladeshi Taka (Tk) 110.32 billion (US$1 billion) annually, says the report. The report highlights that rooftop solar’s economic benefits are more compelling now than ever for Bangladesh, which has suffered energy price spikes,…
Cambodia has set plans for a new green special economic zone (SEZ) in Koh Kong province of Cambodia. The discussions, which took place in the coastal province recently, are paving the way for an eco-friendly industrial hub with investments estimated between $400-$800 million. The discussions involved provincial authorities, representatives from the Council for the Development of Cambodia (CDC), the ministry of economy and finance (MEF), provincial governor Mithona Phouthong and representatives from the British embassy in Phnom Penh among others. “The project, expected to begin in 2024, will cover at least 300 hectares, focusing on sectors like renewable energy, sustainable waste…
The Bangladesh has plans to set up four solar power plants to generate 420 megawatts (MW) of electricity for 20 years. As per reports, the cabinet committee on public purchase has approved proposals of Bangladesh Power Development Board in this regard. The official note said that as per the proposals, a 240 MW plant will be set up in Trishal of Mymensingh through a joint venture of Energon Renewables (BD) Ltd, one of Orion Group’s concerns, and PWR Energy Trading LLC. The estimated cost of the plant is ~ Tk 8,553.60 crore while the unit price will be Tk 10.995 per…
China based firm, Yingli Solar has recently inked a deal to supply solar modules. As per the deal, Yingli Solar will provide 1.25 GW of their high-efficiency Panda N-type TOPCon PV modules for the Saad 2 PV project. This project, developed by ACWA Power in Saudi Arabia, is a significant part of the third round of PV project plans by the Public Investment Fund (PIF). As one of the largest renewable energy projects in the Middle East, Saad 2 PV project boasts a total installed capacity of 1,255 MW, it is developed by the region’s leading renewable energy developer, ACWA…
Villar Group’s renewable energy developer-firm PAVI Green has strengthened partnerships with its affiliate Vista Malls and All Home Luzon branches for the provision of solar-generated electricity to these establishments. In a statement to the media, the Villar RE firm said that it will be generating up to 467,647.41 kilowatt hours (kWh) per month of energy from rooftop solar panels in all Vista Malls and All Home Luzon branches. “This initiative is expected to reduce carbon emissions equivalent to 3,754,273.4 kilograms per year or equivalent to 22,526 planted trees,” the company said. Paolo Villar, CEO of Vista Land and Lifescapes, Inc., stressed…