The Asian Development Bank (ADB) and the Government of Bhutan have signed a $30 million loan agreement for the Distributed Solar for Public Infrastructure Project. The project aims to generate up to 35 megawatts of solar power systems on rooftops of public infrastructure across the country. Energy security in Bhutan has become a growing concern because of rising electricity demand and insufficient power supply, particularly during the winter season. The project will support the Government of Bhutan’s national priority to enhance the climate resilience of energy systems and address energy security concerns through the diversification of energy source. The loan…
Author: Chitrika Grover
The guidelines introduce the Corporate Renewable Energy Supply Scheme (CRESS), which aims to help companies in Malaysia source renewable energy. The scheme allows businesses to buy green electricity directly from renewable energy developers (REDs) through open access to the electricity grid. It is part of Malaysia’s effort to address climate change and achieve a renewable energy target of 70% by 2050. Under CRESS, companies can form agreements with REDs to supply renewable electricity to their operations. The energy will flow through the national electricity grid, managed by the Electricity Utility Company (EUC). The EUC ensures that both the REDs and…
Sunview Group Berhad, a company listed on the ACE Market of Bursa Malaysia Securities Berhad, has announced that its wholly-owned subsidiary, Fabulous Sunview Sdn. Bhd., accepted RM30 million in banking facilities from Bank Muamalat Malaysia Berhad. The facilities comprise RM500,000 under the Muamalat Cashline-i (General) and RM29.5 million in Letter of Credit-i (LC-i) / Muamalat Cashline-i (Invoice) Pre-Financing and Kafalah Bank Guarantee-i (KBG-i). These funds are expected to support the company’s operational needs and future growth initiatives. Sunview stated that the financing arrangement will not affect its issued share capital or the shareholdings of its substantial shareholders. The facilities are…
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to help Indonesia accelerate its energy transition. The Affordable and Sustainable Energy Transition Program will support various policy measures for the country to achieve its enhanced nationally determined contribution (NDC) and net-zero power emission targets by 2050, of which this is the first of two subprograms. “Indonesia is at a critical juncture in its energy transition journey,” said ADB Country Director for Indonesia Jiro Tominaga. “This policy-based loan program supports Indonesia’s foundational and collaborative policy development to identify and address the sector’s complex challenges to accelerate its shift towards…
Scatec ASA, a leading renewable energy provider, has signed an agreement to sell 39-megawatt (MW) Dam Nai Wind farm and the associated operating company in Vietnam to Sustainable Asia Renewable Assets (SARA), a utility-scale renewable energy platform of the SUSI Asia Energy Transition Fund (“SAETF”). Scatec will receive an upfront consideration of USD 27 million for its 100% equity stake at completion, with potential for additional earn-out payments of up to USD 13 million that are subject to certain conditions being fulfilled prior to May 2026.“We have decided to exit Vietnam after operating the Dam Nai wind farm since the…
The Asian Development Bank (ADB) has approved a $100 million policy-based loan to support Sri Lanka’s water supply and sanitation sector reforms to enhance the country’s resilience to climate change impacts and promote long-term sustainability. The Water Supply and Sanitation Reform Program, composed of two subprograms of $100 million each, will contribute to a more resilient and sustainable delivery of water supply and sanitation services. Subprogram 1 will establish policies and strategies nationally and for the National Water Supply and Drainage Board (NWSDB) while the subprogram 2 will support the implementation of reform actions and guidelines. “Efficient delivery of safe…
Horizon Fuel Cell electrolyzer subsidiary HET Hydrogen Pte Ltd is working with a long-term Horizon distribution partner on the new Joint Venture (JV), Indify Fuel Cell Private Ltd, which aims to establish assembly facilities capable of turning out GW quantities of electrolysers in two stages, with the startup phase able to assemble at least 100MW per year, expected to be operational early 2026. Green hydrogen is being prioritized under the Government of India’s “Green Hydrogen Mission”, which foresees and incentivises massive uptake of sustainable hydrogen in search of cleaner industry, decarbonised transportation and new export opportunities. HET expects to play…
Actis, a leading global investor in sustainable infrastructure, has agreed to enter a strategic partnership with Manila Electric Company (Meralco) and its subsidiary, Solar Philippines New Energy Corporation, to invest in the Terra Solar Project, poised to be the world’s largest integrated renewables and energy storage project. The transaction represents the largest foreign direct investment for a greenfield infrastructure project in the Philippines and will see Actis bring its rich experience in contracting, building, and operating infrastructure assets to the project. The project, which is strategically located on the Philippines’ main island of Luzon, about 100km from Manila, will combine…
Trina Solar published its financial report for the first half of 2024 on Aug 30, reporting revenue of $6.047 billion and net profit attributable to the parent of $74.058 million, reflecting two consecutive quarters of profitability. Over the six months the company delivered 34GW in PV modules, 1.7GWh of DC container and energy storage systems and 3.2GW of solar mounting systems, highlighting and consolidating its leadership in smart PV and energy storage solutions.Achieving robust growth in PV, solar tracker and ESS businessIn the first half of the year Trinasolar shipped 34GW of modules, 25.9% more than in the corresponding period…
Vanda RE Pte, a joint venture company majority-owned by Gurīn Energy Pte Ltd, has signed a framework supply agreement with Trinasolar, a global leader in smart photovoltaic (PV) and energy storage solutions. This partnership represents a major step forward in progressing Vanda RE’s renewable energy export project in Indonesia.Under this agreement, Trinasolar will supply 1.2GW of its industry-leading Vertex N n-type i-TOPCon advanced technology based on the 210mm product technology platform.Trinasolar’s n-type i-TOPCon module recently broke the world record for power output, reaching 740.6W in a lab setting. Testament to its reliability, high energy yield, outstanding performance and quality, Trinasolar…