Cypark Resources Berhad and RGFC Ventures Sdn Bhd have entered into a Memorandum of Business Exploration (MOBE). The announcement follows Malaysia’s launch of the National Energy Transition Roadmap (NETR), which eyes gigantic renewable energy ambitions of 40% by 2035 and 70% by 2050. Malaysia-based Cypark Resources is a developer and provider in integrated renewable energy, green technology, environmental engineering solutions, and construction engineering. RGFC Ventures is the business and investment arm of Selangor Football Club that is mandated to generate non-football revenue for the club The agreement will pave the way for the two firms to exploit the potential of solar energy…
Author: Saur News Desk
Constant Energy and Virya Energy are set to acquire a majority stake in Constant Energy by Virya. This will be done by way of a combination of primary investments and secondary shares from Olympus Capital Asia. Olympus Capita Asia is a middle-market investment firm focused on Asia. Singapore-based renewable power platform Constant Energy delves into renewable electricity generation and storage development. It is a key played in Southeast Asia. The agreement will give an impetus to Virya Energy’s solar goals. The firm looks into the development, financing, construction and operation of sustainable energy sources solar. The firm has a strong…
In a step towards strengthening its commitment towards environmental and sustainability efforts and to achieve net zero emissions across its global operations by 2050, McDonald’s is making its eating joints solar-powered. After UAE’s branch being partially solar-powered, McDonald’s Malaysia has signed Supply Agreement with Renewable Energy (SARE), with Tenaga Nasional Bhd (TNB) and GSPARX Sdn Bhd (GSPARX) for the installation of rooftop solar photovoltaic (PV) facilities. As per SARE, the solar PV facilities will be installed at 100 selected McDonald’s Drive-Thru restaurants across the nation in phases, with the project scheduled for completion by December 2024. It may be noted that…
Portuguese electric utility firm Energias de Portugal (EDP) and EDP Renewables have shown interest in investing in RE projects in the Philippines. Portuguese Foreign Minister João Gomes Cravinh disclosed this during his meeting with Philippine Energy Secretary Raphael Lotilla in his courtesy visit. In a statement, the Philippine Department of Energy (DOE) revealed that Cravinh has cited renewable energy projects and alternative fuels such as hydrogen as potential areas for co-operation. In addition, Lotilla expressed interest in cooperation in the areas of offshore wind and floating solar, hydrogen and ammonia production using renewable energy, liquified natural gas importation, and improvement…
Technip Energies signed a Memorandum of Understanding (MoU) with the yard infrastructure provider Young Chang and heavy lifting solutions provider Sarens to collaborate on floating offshore wind projects offshore South Korea. The cooperation covers the development of an integrated solution to provide floating wind turbine marshalling & integration services, using Young Chang’s Shinan yard and Sarens’ capabilities in heavy lifting and engineered transport. The agreement is key for unlocking and supporting the ambition to start up the floating offshore wind industry in South Korea. Gill-Sik Park, CEO of Young-Chang Heavy Industry, commented, “We are delighted to collaborate with Technip Energies…
In a step towards encouraging renewable energy projects and foreign investments in the sector in the Philippines, the country’s private equity investor New Wave Strategic Holdings Incorporated (New Wave) and its Malaysian government-backed fund partner Emissary Capital are set to invest $50 million (around P2.74 billion) in renewable energy. As per the statement, the proposed investment will be towards building projects with 1,000 megawatts (MW) of “bankable capacity.” This proposal was among those presented to President Ferdinand Marcos Jr. during his recent three-day state visit in Malaysia. “New Wave is a subsidiary of investment holding firm IP E-Game Ventures Incorporated.…
A major South Korean renewable energy consortium has negotiated exclusively with the Australian government to establish a Green Ammonia plant near Geraldton, an Australian city. As per the statement released by the government, Progressive Green Solutions, in partnership with Samsung C&T and KOMIPO (Korean Midland Power Co), are proposing to build a plant on two lots at Development WA’s Narngulu Industrial Estate. Located 12 kilometres southeast of Geraldton, Narngulu Industrial Estate is an important general industrial precinct for Geraldton and the Mid-West region. The facility intends to create up to 1 million tonnes of Green Ammonia per year using Green…
The year 2022 witnessed under 2% of the region’s total passenger vehicle sales passenger electric vehicle (EV) sales in Southeast Asia (SEA), as per Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker. Thailand emerged as the most advanced, accounting for 58% of the region’s EV sales, followed by Indonesia and Vietnam. EV sales in Thailand comprised 3% of total automobile sales in 2022. As per the latest research from Counterpoint’s SEA Passenger Electric Vehicle Model Sales, Thailand has again emerged as the leading country,with the most battery electric vehicle sales in the first three months of this year. The consistent…
Malaysia will build ASEAN’s largest integrated solar photovoltaic (PV) plant, according to the National Energy Transition Roadmap (NETR) launched on Thursday (July 27). In addition, the country will also introduce a mechanism that allows households to earn income by leasing out rooftops for solar panel installations. Economy Minister Mohd Rafizi Ramli has announced the commencement of Phase 1 of the NETR. As part of Phase 1, a significant milestone has been set with establishing a one-gigawatt (GW) integrated renewable energy (RE) zone, spearheaded by Khazanah Nasional Bhd. This zone will be developed through a joint venture between UEM Group and…
Various agreements have been signed between Japan and Gulf countries during Japan’s Prime Minister Fumio Kishida’s recent visit to the Middle East. These will pave the way for critical regional countries to become hydrogen partners. Kishida was accompanied by representatives from 40 Japanese companies, indicating its commitment towards promoting cooperation in green and renewable energy. Currently, due to low solar energy production costs, Middle east region is seen as a lucrative location to form a green energy production hub. It may be noted that at least seven agreements, many memorandums of understanding were signed between Japanese companies and Middle Eastern…