The Korea Institute of Energy Research (KIER) has signed a memorandum of understanding with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to cooperate on renewable energy research and technology development. KIER stated that the collaboration will target carbon-neutral technologies, focusing on areas such as solar power, hydrogen energy, and energy storage. Both institutions will explore joint research opportunities, conduct regular workshops, and promote knowledge exchange between experts. This agreement builds on previous partnerships between KIER and NREL, established in 2000 and renewed in 2015. The new MoU supports South Korea’s efforts to expand international research cooperation, as…
Author: Lakshita Kapoor
The Philippines’ Department of Energy (DOE) is preparing to release the terms of reference (TOR) for the fourth round of the Green Energy Auction Program (GEAP) within this month. The TOR will outline the procedures for the auction, covering technical, financial, and commercial requirements for participating companies. This round of the GEAP will include Integrated Renewable Energy and Energy Storage Systems (IRESS) for the first time. The IRESS component will focus on solar power plants that are integrated with battery energy storage systems. The DOE plans to conduct a dialogue session to gather feedback on the draft TOR from stakeholders…
Potentia Energy, formed through a partnership between Italy’s Enel Green Power and Japan’s Inpex Corporation, is set to acquire majority ownership in renewable energy projects totaling 1 gigawatt (GW) across Australia. The projects are being purchased from CVC DIF, the infrastructure division of private equity firm CVC, along with Australian pension fund Cbus Super. The deal’s value is estimated at around A$1 billion, pending approval from the Foreign Investment Review Board. The acquisition includes 700 megawatts (MW) of wind and solar energy assets, along with 430 MW of battery energy storage projects in the late stages of development. These storage…
As of June 2024, Singapore has deployed 1.35 gigawatt-peak (GWp) of solar energy, moving closer to its 2025 target of 1.5 GWp. This figure was shared by Baey Yam Keng, senior parliamentary secretary at the Ministry of Sustainability and the Environment, during an oral reply to a Parliamentary Question regarding Singapore’s progress under the Green Plan 2030. The current solar deployment meets about 2% of Singapore’s annual electricity demand. Baey also addressed questions related to waste management, specifically the goal to reduce waste sent to landfills per capita per day by 20% by 2026. While both domestic waste generated per…
Tesla will supply large-scale battery storage systems to a power storage facility planned by Orix in Japan. Orix, a financial services group, is developing the plant in Maibara, located in Shiga Prefecture. Tesla will provide its Megapack batteries with a total storage capacity of 548 megawatt-hours. The facility is scheduled to begin operations as early as 2027. These batteries will store excess electricity when supply exceeds demand and release it when needed to balance the power grid. This system is expected to support renewable energy integration by managing fluctuations in electricity generation. Japan is expanding its renewable energy projects to…
J-POWER’s J-Wind Co., Ltd. and KDDI Corporation have signed a virtual power purchase agreement (VPPA) for an onshore wind farm. The agreement covers the Minami Osumi Wind Farm in Minami Osumi Town, Kagoshima Prefecture, Japan. J-POWER announced that J-Wind will upgrade the existing wind farm and build a new 19,500-kilowatt wind facility, called the New Minami Osumi Wind Farm. Under the agreement, the environmental value generated from power production will be supplied to KDDI for 20 years once commercial operations begin. Japan is working on several renewable energy projects to expand its energy mix. A floating offshore wind power project…
Mitsubishi Corporation is reassessing its plans for three offshore wind power projects in Japan, totaling 1,742 megawatts of capacity. The company cited economic factors such as inflation, a declining yen, supply chain disruptions, and rising interest rates as reasons for the review. Additional challenges from the Ukraine crisis and the pandemic have also impacted the offshore wind industry, leading Mitsubishi to reconsider its approach. The projects under review include the 494-megawatt Noshiro Mitane Oga and the 845-megawatt Yurihonjo offshore wind projects, both planned off the coast of Akita Prefecture. The third project, the 403-megawatt Choshi offshore wind farm, is set…
Shizen Energy Inc. has signed a $6.67 million (JPY 1 billion) project finance agreement with Daishi Hokuetsu Bank, Ltd. to develop four solar power plants in Niigata and Yamagata prefectures. The total installed capacity of these plants will be 6.7 megawatts. According to Shizen Energy, the electricity generated from these plants will be supplied to five Bourbon Corporation factories in Niigata Prefecture. This will be done through an off-site corporate power purchase agreement signed in 2024. Three of the four solar power plants have already started operations and are supplying electricity, while the remaining plant in Niigata is expected to…
ORIX Corporation has completed the installation of approximately 23.4 megawatts of solar power systems for Kansai Airports, Japan. The project was carried out through a special purpose company, and the renewable energy generated will be supplied under a power purchase agreement starting on February 1. The solar installation consists of a ground-mounted solar plant and a rooftop system on the international cargo building at Kansai International Airport, with a combined capacity of 22.8 megawatts. An additional 0.6-megawatt rooftop solar system has been installed on the terminal building at Osaka International Airport. These solar facilities are expected to generate around 27,754…
ACEN has approved a short-term loan of $510,200 (PHP30 million) to Pagudpud Wind Power Corp. The loan agreement was executed last week, according to a company disclosure. Pagudpud Wind Power Corp. is developing a 160-megawatt wind farm in Pagudpud, Ilocos Norte, Philippines. This will be ACEN’s third wind project in the province. Once completed, it is expected to be the largest wind farm in the Philippines. The project is being built in phases. The first phase was completed in 2023. Construction of the second phase is ongoing. Pagudpud Wind Power secured a long-term market through the Department of Energy’s Green…