Author: Rashida

CATL, a leading Lithium battery company based in China, is venturing into the renewable energy domain by establishing new subsidiaries focused on wind and photovoltaic power stations. The firm is also focusing on managing carbon assets. According to reports from the Chinese company profile platform Tinyancha, CATL has launched a subsidiary named ‘Times Carbon Asset Management’. This new entity operates under the ownership of Times Green Energy, another CATL subsidiary dedicated to clean energy services and renewable energy projects. The primary mission of Times Carbon Asset Management is to delve into carbon management efforts, encompassing emission reduction strategies and advancing…

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SN Aboitiz Power’s 24 MW Magat Battery Energy Storage Systems (BESS) have commenced commercial operations in the Philippines’ reserve market, boosting the nation’s energy infrastructure in the Philippines. As per reports, after the provisional authority granted on January 17th by the Energy Regulatory Commission, the project officially began its service on January 26th, playing a crucial role in bolstering the reliability and stability of the Luzon grid. The project is located alongside the Magat hydroelectric power plant in Ramon, Isabela. Isabela is the second-largest province of the Philippines. The BESS is strategically positioned to leverage synergies with existing energy infrastructure.…

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The commencement of operations at the 150 MW solar projects in Sukkur, Pakistan, has marked a significant advancement in the country’s renewable energy landscape. These projects can produce approximately 300 gigawatt hours of electricity annually, and they are expected to contribute significantly to Pakistan’s energy needs. Under a 25-year USD-indexed power purchase agreement (PPA) with the Central Power Purchasing Agency of Pakistan, the projects assure a stable revenue stream, instilling confidence among investors and stakeholders. Scatec ASA’s collaboration with its local partner, Nizam Energy, underscores the synergy between international expertise and indigenous knowledge in driving sustainable energy solutions forward. The…

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Swedfund’s recent contribution of $12 million to the Southeast Asia Clean Energy Fund II (SEACEF II) is a crucial step towards advancing the low-carbon transition in Southeast Asia.  This investment aims to provide significant financial support to early-stage companies committed to driving the low-carbon agenda in countries heavily reliant on fossil fuels across the region. Southeast Asia faces significant challenges in achieving emission reduction targets due to its heavy dependence on fossil fuels. Furthermore,the renewable energy sector in the region has struggled to secure adequate funding, hindering the development of sustainable projects. Swedfund’s investment in SEACEF II is poised to accelerate the…

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The shortage of qualified workforce and the absence of a proper regulatory framework for renewable energy systems within semiconductor supply chains are few of the hurdles identified by Jose Fernandez,the United States Under Secretary for Economic Growth, Energy, and the Environment, for the US companies interested in investing in Vietnam’s semiconductor industry. He revealed this during his recent visit to Vietnam to advance the implementation of the Comprehensive Strategic Partnership between the US and Vietnam. Fernandez highlighted the significance of diversifying semiconductor supply chains, noting Vietnam’s inclusion among the seven countries receiving funding from the International Technology Security and Innovation…

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Basic Energy Corp. and Japan’s Renova Inc. are in the final stages of negotiating a memorandum of understanding (MOU) for the joint development of the Mabini wind project in Batangas (Philippines). This was disclosed by Basic in a statement to the stock exchange. As per the firm, the proposed MOU with Renova signifies a significant step towards establishing a joint development shareholders’ agreement for the Mabini wind energy project.  This project, slated to be a 50-megawatt (MW) endeavor, encompasses approximately 4,860 hectares in the Mabini Peninsula of Batangas. Previously, Basic Energy Corp. engaged in non-disclosure agreements with various entities after conducting…

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Singapore’s YTL PowerSeraya has secured an order from the Energy Market Authority (EMA)  to develop a 600-megawatt hydrogen-ready Combined Cycle Gas Turbine (CCGT) unit. This decision follows a request for a proposal issued by EMA in July 2023 to fortify Singapore’s energy security. As per the reports, EMA received four proposals for the construction of a new CCGT unit, which is slated for commissioning by the end of 2027. According to EMA Chief Executive Ngiam Shih Chun, entrusting YTL PowerSeraya with the construction, ownership, and operation of this new power plant will enhance the reliability and security of Singapore’s power system.…

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Envision Energy has collaborated with BASF Process Catalysts to promote advancement in sustainable energy solutions. This would be achieved by integrating BASF’s SYNSPIRE catalyst technology with Envision Energy’s energy management system. With this, it is expected that the efficiency of generating e-methanol from green hydrogen and carbon dioxide would be greatly enhanced. This collaboration underscores the commitment of both companies toward driving the accelerated transition to green energy. As per the firm, Envision Energy’s track record in green technology, particularly its leadership in green hydrogen production, positions it as a key player in the global effort towards decarbonization. Their innovative…

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Clime Capital, based in Singapore, is moving ahead with further investments following its successful backing of a dozen clean tech firms in Southeast Asia. With a focus on blended finance, the fund plans to make 27 additional investments in the coming years.  Clime Capital has announced a substantial increase in its funding, supported by institutional investors and the World Bank, totaling at least US$127 million, up from just over US$20 million in its initial iteration four years ago. As per the firm, each investee now stands to receive loans of up to US$10 million, a tenfold increase from previous levels. Mason Wallick,…

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VinFast, a subsidiary of the Vingroup conglomerate and the Vietnamese electric vehicle (EV) maker, has recently disclosed that it failed to meet its 2023 delivery goal. The firm had delivered just under 35,000 cars instead of the targeted 40,000 units. As per the firm, the shortfall is due to the sluggish adoption of EVs in certain regions, intense competition, and economic uncertainty. However, VinFast reported a notable 35% increase in deliveries during the last quarter of 2023 compared to the third quarter, reaching a total of 13,513 units. It may be noted that the firm introduced its sport utility vehicle…

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