The Asian Development Bank (ADB) and Muktagacha Solartech Energy Limited (MSEL) have entered into a financing agreement worth $24.3 million to construct a grid-connected solar photovoltaic (PV) power plant in Mymensingh, Bangladesh. The project aims to increase the share of renewable energy in the country’s power mix. According to the agreement, ADB will provide a loan of $15.5 million, while Leading Asia’s Private Infrastructure Fund 2 will provide an additional $8.8 million loan. ADB acted as the sole mandated lead arranger for the financing package. The financing will be used to build and operate a 20-megawatt grid-connected solar power plant.…
Author: Lakshita Kapoor
The US Commerce Department has announced a new round of tariffs on solar panel imports from four Southeast Asian countries. The tariffs are in response to complaints from American manufacturers that companies in these countries are selling solar panels at unfairly low prices. The tariffs will be imposed on solar panels from Malaysia, Cambodia, Vietnam, and Thailand. The Commerce Department calculated dumping duties of between 21.31% and 271.2% on solar cells from these countries. The duties will vary depending on the company. Jinko Solar, a Chinese company, will face duties of 21.31% for products made in Malaysia and 56.51% for…
The Japanese government has set a target to produce 20 gigawatts of electricity using a new type of solar cell by 2040. This amount of electricity is equivalent to the output of 20 nuclear reactors. The solar cells, known as perovskite solar cells, are a promising technology for generating electricity from sunlight. They are made using a special type of material that is good at converting sunlight into electricity. Japan’s Ministry of Economy, Trade and Industry is promoting the use of perovskite solar cells as part of its plan to increase the country’s use of renewable energy. The goal is…
Yinson Renewables, a green financing facility has been secured for the Matarani solar project in Peru. The US$59 million senior secured financing was provided by IDB Invest. The solar project is a 97 MWp solar plant located near Arequipa, Peru. The project is backed by a long-term power purchase agreement with Orygen, a renewable energy supplier and generator in Peru. This project is an achievement for Yinson Renewables, Malaysia in Latin America, as it is the first non-subsidized operational solar plant to be financed through a green project finance facility in Peru. Yinson Renewables is a leading player in the…
Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof stated that Malaysia can adopt new technologies and innovations from China. Fadillah, who is also the Deputy Prime Minister, said that, “collaboration with China is important for Malaysian companies. This collaboration allows local companies to use Chinese technology for sustainable growth.” China has made progress in its energy transition. According to the International Energy Agency, China’s renewable energy capacity is expanding at a rate of 12% per year. Fadillah said that Malaysia can learn from China’s efforts. Malaysia can adopt best practices for a fair and equitable energy transition. This…
The Asian Development Bank (ADB) has signed an $820m loan with Gulf Renewable Energy Company Limited to finance the construction of 12 renewable energy projects in Thailand. The projects include eight ground-mounted solar photovoltaic (PV) plants and four ground-mounted solar PV plants with battery energy storage. The solar PV plants will have a contracted capacity of 393 megawatts (MW) and the plants with battery energy storage will have a contracted capacity of 256 MW and 396 MW-hours of energy storage. The projects are part of Thailand’s plan to increase its renewable energy generation to 50% by 2037. The $820m financing…
Meralco PowerGen Corp. (MGen) plans to increase its power generation portfolio by adding 1,500 megawatts (MW) of renewable energy. The company will implement this plan through its wholly owned subsidiary, MGen Renewable Energy Inc. The powercorp is based in the Philippines. MGen also announced that it will develop Atimonan One Energy, Inc. as a coal plant. The company also plans to expand the 80 MW Toledo coal-fired power plant. The company is currently evaluating and selecting the engineering, procurement, and construction (EPC) contractor for the projects. MGen has been actively pursuing renewable energy projects in recent years. In 2020, the…
The Philippines has begun construction on its largest single-site solar and battery energy storage facility. The Meralco Terra solar project spans 3,500 hectares across the provinces of Nueva Ecija and Bulacan, north of Manila. The project will have an installed solar panel capacity of 850 megawatts, making it one of the largest solar farms in the country. Once operational, it is expected to generate over 5 billion kilowatt-hours of electricity annually. This will contribute to the grid in Luzon Island, helping to meet the growing demand for clean and sustainable energy. The project will also reduce the country’s dependence on…
GUS Technology, a leading player in Taiwan’s lithium-ion battery sector, has signed a Technical Assistance and License Agreement with Japan’s Toshiba Corporation. The partnership aims to commercialize next-generation lithium-ion battery cells using Niobium Titanium Oxide (NTO) as the anode, delivering superior performance, enhanced safety, and cost-effective solutions. The partnership combines GUS Technology’s pouch cell manufacturing expertise and Toshiba’s advanced material science to develop innovative NTO lithium-ion batteries. Toshiba will provide technical support, positioning GUS Technology as the premier ODM manufacturer. The collaboration is further backed by Companhia Brasileira de Metalurgia e Mineração (CBMM) and Sojitz Corporation, with a shared goal…
In an effort to address overcapacity in the solar photovoltaic (PV) industry, China’s industry ministry has finalized investment guidelines for solar PV manufacturing projects. The guidelines, announced on the ministry’s website, aim to promote sustainable development and structural adjustments in the industry. According to the guidelines, companies are required to maintain a minimum capital ratio of 30% for solar PV projects. This is an increase from the previous standard of 20% for projects other than polysilicon manufacturing, which already had a 30% minimum capital ratio requirement. The ministry did not provide a definition of the capital ratio. The guidelines also…