In a bid to ramp up green energy initiatives across Taiwan and Malaysia, Solarvest Holdings Bhd has announced a strategic partnership with Taiwan’s GreenRock Energy. This collaboration aims to accelerate the development of renewable energy solutions in both countries over the next five years. Solarvest, known for its expertise in clean energy solutions, revealed that the partnership sets an ambitious target of achieving 1 gigawatt (GW) of renewable energy projects within the specified timeframe. This move is expected to significantly contribute to the region’s efforts in transitioning towards sustainable energy sources. GreenRock Energy, marking its entry as the first Taiwanese…
Author: Akash
Renewable energy pioneer Alternergy Holdings Corp. has secured a green corporate loan from Banco De Oro Unibank, Inc. (BDO) to advance its renewable energy projects in Rizal, Quezon, and Bataan. Alternergy disclosed to the Philippine Stock Exchange (PSE) that it has secured a P2 billion green corporate loan to advance the development of the Tanay and Alabat Wind Power Projects in Quezon and Rizal, as well as the Solana Solar Project in Hermosa, Bataan. Alternergy President Gerry P. Magbanua stated that this marks the first loan issued under the company’s green finance framework. “As a Green Corporate Loan, Alternergy highlights…
Fossil fuel consumption subsidies come into being when consumer prices are held at levels that are lower than the market value of the products in question, based on reference prices that are adjusted as necessary for transport costs and value-added tax. While some of these subsidies can be justified as efficient in the sense that they help to achieve social and development policy objectives, notably when they improve access to clean cooking fuels, the the majority simply incentivise often wasteful fossil fuel consumption. According to a report by the International Energy Agency, middle- and upper-income households in Indonesia account for…
Meralco PowerGen Corp. (MGen) announced that its subsidiary companies have secured a combined funding of P2.79 billion for solar power initiatives through Security Banking Corp. MGen revealed that MGen Renewable Energy Inc. (MGreen), its renewable energy division, has been successful in securing funding for two solar projects totaling 67.75 megawatts. Jaime Azurin, the president and CEO of MGreen, stated that this deal is more than just a formal agreement; rather, it represents a commitment to advancement and a shared vision for a sustainable future. It is anticipated that the financing will support innovation, promote growth, and provide opportunities with far-reaching…
The Aurora Pacific Economic Zone and Freeport Authority (APECO) has entered into a USD25-million investment agreement with a Singapore-based renewable energy (RE) company, aiming to advance environmentally-friendly development within investment promotion agencies. The first phase of the RE project within the Aurora ecozone began when APECO and Pacific Impact Development Pte. Ltd. concluded the agreement in Quezon City. A 25-megawatt solar power farm covering 25 hectares of land will be developed in the first phase. Through this attempt to generate power, excess energy will be added to the grid and supplied to APECO locators. Taway stressed that APECO’s standing as…
REDEX will be an exclusive partner to TNBX to support the development of the Malaysia Green Attribute Trading System (mGATS) into the country’s preeminent digital trading platform for Malaysia Renewable Energy Certificates (mREC). The upgraded platform will provide a new avenue for businesses to conveniently pursue their renewable energy commitments and accelerate the nation’s pursuit of a sustainable energy future. Launched five years ago as an information hub on RECs, the revamped mGATS will leverage REDEX’s innovative technological solutions to facilitate live trading and auctions while providing users with price transparency for mRECs acquisition. REDEX Founder and CEO Kang Jen…
In the Philippines, Longi Hi-MO X6 was deployed on the rooftops of a nearby chicken farm in collaboration with the farm, setting a new standard for sustainable and low-carbon agriculture. Solar power is viewed as a game-changer in lowering operating costs and enhancing the competitiveness of the agriculture sector amid skyrocketing global energy costs. The Philippines’ poultry farm has adopted Hi-MO X6 by Longi, which is expected to generate 300,000 kWh annually. This energy source will meet the farm’s energy needs and result in a net reduction of 4439 tons of CO2 emissions over the course of its lifetime, which…
The United States Mission to Vietnam has announced that the United States Agency for International Development (USAID) and Standard Chartered Bank (Vietnam) have signed an MoU for achieving net-zero emissions by 2050. In his remarks, USAID/Vietnam Mission Director Grubbs emphasized the importance of this partnership in facilitating financing for the private sector to spearhead Vietnam’s advanced clean energy initiatives. He highlighted the MOU as a model for expanding collaboration with financial institutions to accelerate the nation’s ambitious net-zero emissions goal. This partnership underscores the United States’ commitment to Vietnam’s transition to a clean, secure, and market-based energy sector, aligning with…
Gstar, photovoltaic making firm, has initiated the construction of a state-of-the-art silicon rod and wafer factory in Jakarta, Indonesia. The groundbreaking ceremony marks a pivotal moment in the company’s strategic expansion and commitment to vertical integration within the global solar energy sector. Spanning across 60,000 square meters, the modern facility is poised to revolutionize silicon wafer production with its fully digitalized and intelligent manufacturing processes. Equipped with advanced production equipment and technologies, the factory aims to establish itself as a leading global hub for silicon wafer production. Scheduled to commence production by the close of 2024, the factory targets an…
G7 leaders tasked the International Renewable Energy Agency (IRENA) to track and monitor the group’s collective contribution toward the global renewable tripling target by 2030. The target was established by the UAE Consensus last November at COP28, aligning global climate ambitions with IRENA’s 1.5°C pathway, mapped out by the Agency’s World Energy Transitions Outlook. “Trust and transparency go hand in hand,” said IRENA Director-General Francesco La Camera, who is attending the G7 Ministers’ Meeting on Climate, Energy and Environment. “IRENA will respond swiftly to the request by G7 members to track the group’s progress toward the global target to triple…