With the aim of supplying low-carbon electricity to Singapore from 2027, an Indonesian renewable energy company will be building solar power plants costing US$9 billion (S$12.3 billion) on an island near Batam from 2024. In a recent agreement, Marubeni Global Indonesia (MGI) has committed to provide 600 megawatts (MW) of electricity to Tuas Power, Singapore’s top power generation company, Tuas Power said. “It will submit its proposal to Singapore’s Energy Market Authority (EMA) by the end of November to import the electricity generated, which will be enough to power about 730,000 households.” MGI Managing Director Tjaw Hioeng said, “The first phase…
Author: Saur News Desk
Interra Resources Limited (5GI), a petroleum exploration and production company, has collaborated with VibroPower Corporation Limited for a joint venture agreement and a convertible bond agreement. As per the Joint Venture Agreement, Interra Resources and VibroPower will jointly work to establish a 2-megawatt solar farm in Sabah, Malaysia. With the generating capacity of up to 2,000 kilowatts of electricity from sunlight, it will serve as the foundation for a renewable energy supply business. The project is estimated to cost S$3,000,000 for the total development and construction cost of the Solar Farm. Interra Resources will provide S$1,500,000, secured by the Convertible…
As per Comprehensive Investment and Policy Plan (CIPP) of the Indonesian government, the country has set out to achieve Indonesia’s decarbonisation initiatives by 2050. This includes reaching net zero and expanding the country’s installed solar capacity to 264.6 GW by the middle of the century. As per reports, the CIPP draft is open for public consultation until 14 November and depicts Indonesia’s contribution to meeting the Just Energy Transition Partnership (JETP) programme. The government agreed to the JETP initiatives during last year’s G20 Summit, held in Indonesia, and received US$20 billion in funding to support its decarbonisation goals. The draft…
Bangladesh is steadily moving ahead with its plans to boost up its renewable energy projects in the country. To this end, the European Investment Bank (EIB) and the European Union allotted US$418m (€350m) for new renewable energy projects in Bangladesh, which has an estimated of 750 MWp energy capacity. The massive-scale project includes an EIB framework loan for green energy generation. This includes an additional US$47.8m (€45m) EU grant, which aims to improve power distribution and decentralisation. The US$418m loan supports utility-scale public green energy generation through various public promoters. While, the additional US$47.8m grant will cover US$6.37m in technical assistance…
Singapore has pledged to achieve net-zero emissions by 2050. It has set a target to import 4 gigawatts of clean energy by 2035, accounting for 30 percent of the city-state’s total electricity supply. As per the analysts, Singapore can serve as a hub for renewable energy as the city-state can leverage its status as one of the world’s biggest commodity trading centers and bunkering ports. It may be noted that as a small, resource-constrained country, Singapore has to import almost all its energy needs. However, it is expanding its energy options, including regional power grids and emerging low-carbon alternatives such…
Berde Renewables, a portfolio company of Isquared Capital, is a renewable energy solutions provider that aims to make renewable energy accessible to the Philippines private sectors. It has announced a power purchase agreement with Holcim Philippines, a member of the Holcim Group. The agreement pertains to the development of solar rooftop projects on two Holcim plants, located in Bulacan and La Union. As per the firm, Berde Renewables will be responsible for building, operating, and maintaining these rooftop solar facilities, which will have a combined capacity of 5.5 MWp and an estimated annual generation of 7.8 GWh. It said that…
A latest report from the International Solar Alliance (ISA) claimed that off-grid solar technology performed well in the South Asian countries. It also added that the technology holds good potential for African and South Asian countries. The report was released today at New Delhi in India. The ISA report said that adopting off-grid renewable technologies, both stand-alone systems and mini grids can be a cost-effective solution for accelerating electricity access for households and businesses in regions with inadequate power and grid infrastructure. “The sector has been rising continuously, and between 2012-21, the population served by these technologies increased from 35…
Renewable energy certificate (REC) service supplier REDEX, which is based in Singapore, has announced that it has pocketed $10 million investment. The team of investors was led by Aramco Ventures. This initiative will help REDEX to expand beyond Asia. Other investors in the firm are based in Middle East, Southeast Asia, and Japan. “We are planning to get into the Middle East and Latin America markets in 2024 through the partnership with our strategic investors,” Jen-Wee Kang, Founder and CEO of REDEX informed. “The first location is probably Saudi Arabia,” he added. Each REC of REDEX represents 1 MWh of…
The Minister of Mines and Energy of Cambodia, Keo Rottanak, has revealed that the southeastern Kingdom is looking towards renewable energy to meet its energy needs. During the Singapore International Energy Week, the minister said that Cambodia must diversify energy sources while adding, “We will lean heavily on solar, complemented by wind, to augment what hydroelectricity can offer. Our aim is to integrate these with interconnections from Vietnam and Laos.” Hydropower in Cambodia Cambodia’s energy landscape dominated by hydropower in the renewable energy mix has been seeing volatile output. Solar and wind may have significant role to play in this…
Trina Solar has signed a master services agreement (the “Agreement”) with Philippine-based Citicore Group for the supply of market-leading solar modules, helping ramp up the country’s solar capacity in line with the country’s renewable energy targets. The Agreement was signed by Todd Li, President of Trina Solar Asia Pacific, and Alreetz F. Santander, President of MCC-CCI, in October at Trina Solar’s headquarters in Changzhou, China. The Citicore Group is among the largest, vertically integrated renewable energy advocates in the Philippines. Among the companies under its umbrella are engineering, procurement, and construction (EPC) arm, MCC – Citicore Construction, Inc. (“MCC-CCI”) and…