In a move towards greener energy, China’s central government has given the green light to Shanghai’s ambitious plan to construct 29 gigawatts of offshore wind power capacity. This initiative is part of Shanghai’s broader efforts to reduce emissions and align with Beijing’s ambitious climate goals. Once completed, the offshore wind project is expected to supply Shanghai with approximately 100 billion kilowatt-hours of clean electricity annually, surpassing half of the city’s total power consumption. The approval signals a major step towards bolstering China’s renewable energy sector and reducing reliance on traditional fossil fuels. The city also plans to augment its green…
Author: Lakshita Kapoor
Vietnam has introduced a groundbreaking regulation, Decree 80, which is poised to revolutionise its energy landscape by promoting the adoption of solar and wind power. This move aims to diversify energy sources and reduce reliance on the state-run Vietnam Electricity, opening avenues for direct purchase agreements (DPPAs) between businesses and renewable energy producers. The decree, following Uruguay’s lead, allows businesses to buy renewable energy directly from producers. This shift is expected to alleviate pressure on Vietnam’s aging electricity grid, which has struggled with blackouts affecting major companies like Samsung Electronics. Local renewable energy leader Luu Hoang Ha expressed optimism, citing…
SATAS Group, a prominent player in Asia’s economic landscape, has pledged significant investments aimed at accelerating economic growth while prioritizing environmental sustainability. With over $15 billion committed to green technologies and sustainable practices, SATAS Group is setting new benchmarks in integrating environmental stewardship into business strategies. Asia’s rapid economic growth has been a catalyst for prosperity, driven by market reforms and substantial foreign investments. However, concerns over environmental impact have grown in tandem. SATAS Group, under the leadership of Mai Vu Minh, Chairman, recognizes the imperative of balancing economic progress with ecological preservation. Minh’s vision emphasizes collaborative efforts across sectors…
In a move to enhance the renewable energy sector, Japan’s Electric Power Development Co., known as J-Power, has successfully secured approval for its A$381 million ($257.56 million) acquisition of Australia’s Genex Power. This approval came following a decisive vote on Tuesday, as announced by Genex. J-Power’s acquisition bid, valued at 27.5 Australian cents per share, garnered strong support with 83.54% of proxy votes in favor during an investor meeting in Sydney. This overwhelming approval surpassed the required threshold of 75%, ensuring the deal’s progression. Notably, a majority of individual shareholders also backed the acquisition, underscoring confidence in the proposed transaction. …
Yinson Holdings Bhd, a major player in Malaysia’s energy sector, is poised to boost its investments in Brazil’s energy landscape with ambitious plans for wind farms in the northeastern region. The company anticipates a substantial boost pending final approval from the Brazilian government, which would greenlight their proposed renewable energy projects. Group CEO Lim Chern Yuan highlighted the significance of Brazil as Yinson’s largest market, citing the ongoing deployment of nine floating production, storage, and offloading (FPSO) vessels, three of which are already operational. The successful commissioning of FPSO Anna Neary last year and the upcoming delivery of two more…
In a bid to bolster its commitment to sustainable development, the Malaysian real estate mogul IJM Land Bhd has entered into a strategic partnership with Solar energy solution company Progressture Power Sdn Bhd (Progressture Solar) to explore new opportunities in solar energy. This collaboration aims to deploy a total capacity of 40-megawatt peak (MWp) across IJM Land’s upcoming projects. The memorandum of understanding between IJM Land and Progressture Solar focuses on integrating solar energy solutions into residential and commercial developments. Specifically, it includes pre-installing solar rooftop photovoltaic (PV) systems with a capacity of 25 MWp for residential properties. Additionally, the…
China’s rapid expansion of wind and solar power has led to a new challenge: managing imbalances in electricity supply across different regions. The surge in renewable energy capacity has often exceeded local demand, forcing authorities to occasionally halt renewable generators. To address this issue, the Chinese government has introduced new regulations aimed at bolstering long-distance transmission capabilities and improving coordination between provinces. Since late 2018, China has added a staggering 1.137 billion kilowatts of total generating capacity, with annual growth averaging 9%, according to data from the National Bureau of Statistics (NBS). The bulk of this increase comes from renewable…
NASCAR introduced an innovative all-electric racecar prototype during the Chicago Street Race on Saturday, marking a significant step towards its sustainability objectives. Partnering with ABB Ltd, NASCAR aims to achieve net zero operating emissions by 2035, despite currently having no plans for an electric vehicle (EV) racing series. The newly unveiled EV, developed in collaboration with Chevrolet, Ford, and Toyota, represents a departure from NASCAR’s traditional loud, gas-guzzling muscle cars. Powered by three electric motors capable of delivering up to 1,000 kW (around 1,340 horsepower), the EV showcases cutting-edge technology tested on the track. Unlike conventional racecars, this prototype features…
In a significant move towards sustainability in aviation, the Civil Aviation Authority of China (CAAC) has inaugurated the country’s inaugural technical centre dedicated to sustainable aviation fuel (SAF). This pioneering initiative, based in Chengdu, aims to set standards, conduct research, and foster the production of SAF within China. The new centre, as reported by the aviation regulator’s news channel, will play a pivotal role in formulating industry policies and establishing stringent standards for the production and quality control of SAF. This development comes amid China’s ambitions to significantly reduce carbon emissions from its aviation sector, which currently accounts for about…
Indonesia faces challenges in attracting investors to its geothermal energy sector, despite ambitious targets set by the government. State-owned electricity company PT PLN’s ( Perusahaan Listeik Negara) recent auction of nine geothermal projects, totaling 260 megawatts (MW), has seen tepid interest from businesses, highlighting concerns over financial viability and risk management. Last year, PLN offered projects including Tulehu in Central Maluku and Tangkuban Perahu in West Java. Prospective investors were required to collaborate with PLN through joint ventures under the Geothermal Exploration and Energy Conversion Agreement scheme. However, major players like Barito Renewables, through its subsidiary Star Energy, expressed interest…