With the support of the Royal Government of Bhutan and the Government of India, Tata Power, one of India’s largest integrated power companies, has entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC) of Bhutan for the development of the 600 MW Khorlochhu Hydropower Project. The Project is located in the Trashiyangtse Dzongkhag (District) in Eastern Bhutan on the Kholongchhu river. While the clean power from the project will help meet Bhutan’s increasing electricity requirements, it will also complement and contribute to India’s energy transition to renewables. The partnership involves a 40% equity investment by Tata Power…
Author: Chitrika Grover
Sembcorp Industries (Sembcorp) posted a turnover of S$3.2 billion and Group net profit before exceptional items (EI) of S$532 million for the first half of 2024 (1H2024), compared to S$3.7 billion and S$602 million respectively in 1H2023. Group net profit after EI and discontinued operation was S$540 million, 2% higher compared to S$530 million in 1H2023.Net profit before EI for the Gas and Related Services segment was S$339 million, compared to S$435 million in 1H2023. Excluding the planned major maintenance for the Singapore cogeneration plant in 1H2024, earnings for the segment remained resilient despite a decline in Singapore wholesale power…
Indonesia urgently needs US$146 billion in near-term private investments to meet its 2030 climate targets, necessitating substantial policy reforms to boost investor confidence, according to a recent Institute for Energy Economics and Financial Analysis (IEEFA) report. Despite abundant renewable energy potential and robust economic growth, Indonesia has seen stagnation in renewable energy investment over the past seven years. In 2023, it attracted only US$1.5 billion, adding a mere 574 megawatts (MW) of capacity. This falls far behind neighboring countries like Vietnam, which boasts 13,035MW of solar and 6,466MW of wind capacity. The report identifies several barriers hindering investment, including complex…
Michael Tardif, a Chambers Band 1-ranked project finance advisor with a focus on Indonesia and the Asia region, joins Orrick as a partner in Singapore. Michael represents sponsors and lenders in complex financing transactions, including working with PT Pertamina (Persero), Indonesia’s state-owned energy company, and its related companies; top-tier sponsors from Japan, Korea and the Middle East; and key regional multilateral lenders and export-credit agencies such as Asian Development Bank, International Finance Corporation and Japan Bank for International Cooperation. He advises a broad range of industry participants in transactions involving the conventional power, renewable energy, infrastructure and mining sectors across…
SingHealth, Singapore’s public healthcare provider, plans to install 300 EV charging points at its facilities by 2028. It has collaborated with state-owned electricity and gas distribution company SP Group for the new decarbonisation initiative.The first twelve chargers have already been installed at the SingHealth Tower at the Singapore General Hospital (SGH) Campus. Both visitors and staff at SingHealth Tower can use the new EV chargers. According to local media, these have an output of 7.4 kW. Charging an EV like the BYD Atto 3 for an hour using these chargers would thus add approximately 50 km of range. The cost…
With funding from the European Union (EU), the Aga Khan Foundation (AKF) has launched Energy Plus – a new program fostering a climate-resilient and low-carbon economy and society in northern Pakistan.The €35m ($38m) program aims to improve access to clean energy for more than 350,000 people in Gilgit-Baltistan and Chitral. It will prioritize underserved communities with limited or no access to sustainable and reliable energy and those unlikely to be reached by the national electricity grid soon.While Pakistan has made progress in increasing its electrification rate, significant disparities persist in access and reliability. All of the urban population has some…
EGAT, AIT, and CSU collaborate to study and develop low-cost, easy-to-recycle Edge Sealed Modules (ESMs), with the plan to test their efficiency in power generation at Sirindhorn Dam. On July 15, 2024, Thidade Eiamsai, Deputy Governor – Power Plant Development and Renewable Energy of the Electricity Generating Authority of Thailand (EGAT); Prof. Nitin Tripathi, Acting Vice President for Academic Affairs, Asian Institute of Technology (AIT); and Prof. Kenneth F. Reardon, Associate Dean for Research of Walter Scott, Jr. College of Engineering, Colorado State University; signed a Memorandum of Understanding (MOU) online to study the potential of ESMs in the areas…
Indonesia and the Philippines lead Southeast Asia in coal dependency, with both countries experiencing rapid growth in coal reliance in 2023. Indonesia surpassed Poland and China in coal share for power generation, reaching a record high of 61.8%. Meanwhile, the Philippines’ coal generation surpassed these countries, rising to 61.9% in 2023 from 59.1% in 2022.In both nations, sluggish growth in renewable energy means that the majority of electricity demand growth is met by coal. Indonesia saw coal meet 67% of its increased electricity demand in 2023, while the Philippines’ coal generation increased by 9.7%, outpacing demand growth by 4.6%.This contrasts…
Philippines’ ACEN Corp. has entered into an agreement with its subsidiary Belenos Energy Corporation for the subscription of redeemable preferred shares valued at PHP467.75m ($8.02m) that will support the latter in its implementation of renewable energy projects. In a bourse filing, ACEN said the agreement covers 467.75 million shares priced at PHP1 ($0.017) apiece. This will be issued out of the increase in authorised capital stock of Belenos, it added. “The acquisition will allow ACEN to have a significant ownership in Belenos and is meant to implement Belenos’ investment into a potential renewable energy project,” the Ayala-led company said. The…
Huasun Energy, a leader in high-efficiency heterojunction (HJT) technology, has achieved significant gains in the Thai market following the successful conclusion of the “ASEAN Sustainable Energy Week Thailand 2024”. Recently, Huasun Energy and A2 Technologies, a leading EPC company in Asia, signed a cooperation agreement for the supply of G12-132 high-efficiency HJT modules. The agreement aims to strengthen their competitiveness in the Asia-Pacific and international markets by leveraging the core resources of both parties. The signing ceremony, attended by Jacky Chan, Huasun’s Director of Overseas KA Sales & Project Development, and Suryion Udcharchon, CEO of A2 Technologies, signifies a new…