Institute of Energy Economics and Financial Analysis (IEEFA), a research-based organization, in its recent report found potential in solar and offshore wind power projects to have investment potential to develop a supply chain that can exceed US$1.1 trillion by 2050. It holds the capacity to generate 873 gigawatts (GW) of clean energy, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).“This report highlights the here-and-now opportunity to capitalize on the renewable energy supply chain,” says Grant Hauber, IEEFA’s Strategic Energy Finance Advisor, in Asia. “Solar energy offers immediate investment benefits to the Asia Pacific,…
Author: Chitrika Grover
The Asian Development Bank (ADB) signed a $40 million financing package with Ananta Knitwear Limited (AKL) to finance a new knit fabric factory in Narshingdi, Bangladesh. AKL is part of the Ananta Group, one of the largest exporters of ready-made garments in Bangladesh. The financing comprises a $20 million loan from ADB and a syndicated B-loan of $20 million from the ILX Fund, an Amsterdam-based emerging market asset manager focused on Sustainable Development Goals, with ADB as the lender of record. As the mandated lead arranger, ADB arranged and syndicated the financing package. The new factory is expected to receive…
Clean energy solutions provider Gentari Sdn Bhd (Gentari), a subsidiary of Malaysia’s PETRONAS Group, is collaborating with leading EV charging business solution provider Virta through its subsidiary Gentari Green Mobility to expand the EV charging network across Southeast Asia.Leveraging Virta’s digital platform services, technology and industry expertise with Gentari’s deployment and operation of EV charging infrastructure, the partners will also work with third-party entities to enable EV charging interoperability in the region.In line with its long-term aim to become Asia Pacific’s leading green mobility solutions partner, Gentari is deploying technologically advanced EV charging services across the region through its clean…
In the bustling streets of Bangladesh, where millions rely on three-wheelers daily, Tiger New Energy (Tiger), a Bangladeshi clean energy startup, is setting a new standard in urban mobility with its innovative battery-swapping technology. ADB Ventures has provided the company with an additional US$1 million in funding, augmenting the US$2.5 million seed round led by Wavemaker Partners last year. The investment accelerates the deployment of Tiger’s battery-swapping network across Bangladesh, advancing its mission to promote eco-friendly mobility and deliver substantial socio-economic benefits. Driving Change for Green Mobility and Empowering Local Communities Harvard Business School alumni Nicole Mao and Yiwei Zhu founded Tiger New Energy to address the pressing issues of…
India and Bangladesh agreed to continue to expand their power and energy collaboration and together develop intra-regional electricity trade, including competitively-priced power generated from clean energy projects in India, Nepal, and Bhutan, through the Indian electricity grid. The agreements encompassing connectivity, commerce, and the power sector were signed during the visit of Sheikh Hasina to India.An announcement was made about the commencement of the export of 40 MW of power from Nepal to Bangladesh through the Indian grid. Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina, held a bilateral meeting in which she articulated their shared vision for…
The Ministry of Industry and Trade (MOIT)’s Electricity and Renewable Energy Authority (EREA) and the Global Energy Alliance for People and Planet (GEAPP) hosted a technical workshop this month focused on integrating battery energy storage systems (BESS) into Vietnam’s power grid. During the workshop, a report titled “Enhancing Vietnam’s Grid Stability with BESS,” co-authored by the Institute of Energy (IE) and GEAPP, was launched.Scaling battery energy storage systems is critical in ensuring a steady supply of renewable energy for the communities that need it most. The BESS Consortium―launched by GEAPP in 2023 and of which Vietnam is a member―is on…
The Nepal Electricity Authority (NEA) released a tender for grid-connected 800 MW solar power projects in the countrty. The power generated from the plants will be sold to NEA for 25 years through a tariff-based competitive bidding process, with the successful bidder responsible for supplying the power via a power purchase agreement.The tender document sets out the sites and substations at which the projects can be developed and connected. The maximum total capacity available under the tender isolars 800 MW. Proposed project sizes shall be a minimum of 1 MW for connection to a DCS substation and 10 MW for…
Pumped-storage hydropower, or simply pumped hydro, is set to play an increasing role in Southeast Asia’s energy transition. This mature technology for large-scale energy storage can bolster grid reliability as fossil fuel generators are phased out in favor of renewable sources. Pumped hydro capacity in Southeast Asia is projected to surge from 2.3 gigawatts (GW) today to 18 GW by 2033, representing a nearly eightfold increase in less than a decade, and attracting an estimated total investment of between US$12 billion and US$70 billion.With 64% of the region’s power generation coming from fossil fuels, reliable and green energy storage solutions…
Canadian Solar Inc. received its first portfolio of Japan’s feed-in premium (FIP) PV projects that began commercial operation on June 1, 2024.The projects that have reached commercial operation include a 1.2 MWp project in Tsukuba City, Ibaraki Prefecture, and a 1.9 MWp project in Daisen Town, Tottori Prefecture. Both projects are powered by CS7N-660W bifacial modules. Initially awarded a feed-in tariff (FIT) through auctions held in 2020, the Company decided to switch the projects from FIT to FIP in response to the rising demand for renewable energy. FIP-awarded projects will generate additional revenue through Non-Fossil Certificates (NFCs).By entering into a…
The Asian Development Bank (ADB) signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific.The fund will invest in renewable energy, energy solutions, and sustainable transportation companies. Investment size will typically range from $50 million–$200 million per company.”Several Asian economies are vulnerable to rising sea levels, extreme weather events, and biodiversity losses,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “ADB’s investment in the fund…