The Philippines is banking on the Middle East to seek investments of billions of dollars worth in renewable energy (RE) to sustain the country’s socioeconomic transformation until 2040. This was disclosed by the National Economic and Development Authority (NEDA),recently, in a statement. Dwelling on the visit of Philippines officials to the ME nations viz. Dubai and Qatar, it said in a statement that during the Philippine Economic Briefing in Dubai, United Arab Emirates, Socioeconomic Planning Secretary Arsenio M. Balisacan said the country needs $103.6 billion in RE investments until 2040. This will allow the economy to attain its target mix…
Author: Saur News Desk
Though Vietnam is moving ahead towards implementing renewable energy plans, the latest reports say that the renewable energy firms in the country have recorded declining earnings results. The reason is the burdens on corporate bond payments. As per the local reports, one of the firms is Xuan Thien Group, one of the major investors in the energy sector, with two clusters of solar power projects in Ninh Thuan and Dak Lak. Besides solar power, the group also invests in hydropower, with 20 projects with a total capacity of 400 MW developed to date. The reports quoted Nguyen Van Thien, Chairman…
Two production sites of PREMO Vietnam Co. Ltd in Quang Nam Province, Vietnam is installed with rooftop solar, which was completed by Spain’s TotalEnergies. As per the statement, TotalEnergies completed the building of 1 megawatt-peak (MWp) Rooftop Solar Photovoltaic (PV) System at the sites. PREMO is a leading provider of electromagnetic motion tracking sensing solutions and designs. This PV system will power about 25% of the facilities with renewable energy. With over 1,700 of modules installed, the PV system will generate approximately 1,350 megawatt-hours (MWh) of renewable electricity annually. PREMO Vietnam will achieve cost savings for the facilities and reduce…
BayWa r.e. has partnered with Swiss-based infrastructure investment manager SUSI Partners to deliver high-quality solar energy solutions to Southeast Asia. As per the statement, the two partners have signed a framework agreement to direct capital from SUSI Partner’s Southeast Asia-focused “Asia Energy Transition Fund” to the realisation of sizable rooftop PV projects contracted with larger C&I corporations. The primary markets will be Thailand, Malaysia, Vietnam, the Philippines and Indonesia. “This partnership centres on the end-to-end development, construction, and operation of PV projects with a capacity of up to 20 MWp, initiated through PPAs with established corporations. BayWa r.e. will handle…
Japan’s shipping firm Mitsui OSK Lines (MOL) has invested in a floating wind technology start-up, TouchWind. TouchWind has developed the tilting-angled one-piece rotor wind turbine that is expected to reduce wind interference between wind turbines that tends to occur in large wind farms and improve overall wind farm power generation efficiency. As per the firm, its design enables the wind turbines to operate in strong winds, reduces the weight of the wind turbine and floating parts, and is expected to improve the utilisation rate and the economics of the wind turbine equipment through their lifecycle. The firm said that since…
Philippines-based Citicore Renewable Energy Corp. (CREC), the solar development vehicle of Citicore Renewable Energy Corporation, has signed a $100-million financing deal for faster roll out of solar projects in the Philippines with Singapore based Pentagreen Capital, a sustainable infrastructure debt financing partnership established by shareholders HSBC and Temasek. CREC said the landmark funding facility is organised by Pentagreen is a mezzanine construction green loan facility with an initial tranche commitment of $30 million for a portfolio of six solar power projects with capacity of 490 megawatts across Luzon in the Philippines. The solar projects includes the 36 MW Arayat 1…
In order to connect to more renewable power sources, state utility PLN plans to add 32 gigawatts of renewable energy capacity and invest in grids. Speaking during ASEAN Indo-Pacific Forum. its Chief Executive Darmawan Prasodjo, said, ”The plan is part of the company’s efforts to speed up adoption of renewable power and reduce reliance on coal, which is used to generate about half of Indonesia’s power output. PLN is revising its power supply master plan to incorporate more renewables.” Informing more about the plans, he said, “Under the current plan for 2021-2030, the company targeted expanding renewables-sourced power capacity by…
Pavilion Real Estate Investment Trust ( REIT) has signed a memorandum of understanding (MoU) with five renewable energy (RE) companies through its trustee, MTrustee Bhd. With this MoU, one of the largest retail concentrated REIT in Malaysia has plans to buy electricity generated by a solar power plant to be located in Pasir Mas, Mukim Apam, Kelantan, to power its malls, Pavilion KL, Pavilion Bukit Jalil, and Intermark in Malaysia. The plant is expected to be commercially operational in the third quarter of 2025, according to a stock exchange filing. MTrustee signed an agreement with a consortium consisting of reNIKOLA…
Yokogawa Electric Corporation’s subsidiary Yokogawa Australia will be supplying an energy management system (EMS) for the initial phase (“phase 0”) of the Yuri Green Hydrogen Project (hereafter, Yuri), from Monford Group Pty Ltd. The firm is constructing an industrial-scale renewable hydrogen production complex in Australia. As per the statement, the Yuri project is being undertaken in the Pilbara region of Western Australia by Yuri Operations Pty Ltd, a joint venture between ENGIE Renewables Australia Pty Ltd and Mitsui & Co., Ltd. A consortium consisting of the engineering, procurement, construction and commissioning (EPCC) companies Technip Energies and Monford Group Pty Ltd.…
As an additional source of energy and to reduce carbon footprint, the construction of a solar farm at Palm Concepcion Power Corp. (PCPC) has commenced in Concepcion town, Iloilo province in the Philippines. The commencement of the construction is part of the seventh anniversary of the commercial operations of Palm Concepcion Power Corp. (PCPC). PCPC is the operator of a 135-MW coal-fired power plant in Concepcion town. PCPC President and Chief Executive Officer Nicandro Fucoy said, “The solar facility is part of PCPC’s expansion into renewable energy. The solar farm can reduce carbon footprint and be an additional source of…