Author: Lakshita Kapoor

EDP Renewables APAC has entered into a 20-year power purchase agreement (PPA) with Amazon for a 44 MWp solar farm in Fukushima, Japan. The project will include 63,000 solar panels and is projected to produce over 48 GWh of electricity annually. It is expected to reduce more than 20,500 metric tonnes of carbon emissions each year. The solar farm is scheduled to begin operations in the third quarter of 2025. This is the second PPA between EDP and Amazon in the Asia-Pacific (APAC) region. The first agreement was signed in 2021 in Singapore. Japan has been developing multiple renewable energy…

Copenhagen Infrastructure Partners (CIP) and Vena Energy have confirmed that their joint project, Taean Wind Power, has secured an offtake contract through South Korea’s 2024 Wind Power Fixed-Price Contract Auction. The Taean offshore wind farm will have an installed capacity of 500 megawatts (MW). Construction is scheduled to begin in the second half of 2026, with commercial operations expected by late 2029. The project is designed to generate electricity for 300,000 households annually once it becomes operational. In addition to Taean, CIP is developing several other offshore wind projects in South Korea, totaling around 5 gigawatts (GW). This includes the…

Pine Wind Power Co., Ltd (Pine Wind) has reached an agreement to purchase a 26% equity and debt stake in Formosa 2 International Investment Co., Ltd. The wind farm, which has a capacity of 376 megawatts (MW), is located off the coast of Miaoli County, Taiwan. The seller in this transaction is Macquarie Asset Management, one of the original developers of the project. The acquisition will be financed with contributions from Pine Wind’s investment partners, including Taiwan Life Insurance Co., Ltd and He Jun Energy Co., Ltd. In addition, JV Asset Management Co., Ltd will oversee the long-term management of…

The World Bank has announced funding of $200 million for three projects in Sri Lanka over the next three months. These projects will focus on renewable energy development, rural infrastructure, and education. As part of the renewable energy initiative, the funding will support the establishment of a facility to attract private investment in clean energy. This was stated by Martin Raiser, the World Bank Vice President for South Asia, during his two-day visit to Sri Lanka. Raiser held discussions with President Anura Kumara Dissanayake, government officials, private sector investors, and development partners. Topics included Sri Lanka’s economic recovery efforts and…

Malaysia’s Ministry of Energy Transition and Water Transformation (Petra) has announced a new round of bidding for the development of 2,000 megawatts (MW) of solar power projects. This initiative falls under the Large Scale Solar (LSS) programme, aiming to increase the country’s renewable energy capacity. According to Petra, the bidding process is divided into two categories. Package A focuses on ground-mounted solar power plants with capacities ranging between 30 MW and 500 MW. This category has a total allocation of 1.5 gigawatts (GW). Package B is designed for floating or water-based solar projects, with capacities ranging from 10 MW to…

The Nusantara Sembcorp Solar Energi Power Plant, Indonesia’s first large-scale solar and energy storage project, has been launched by PT Sembcorp Renewables Indonesia and PT PLN Nusantara Renewables. This project combines solar energy generation with battery storage to provide a steady supply of electricity. The facility spans 87 hectares in Nusantara, Indonesia. It includes a 50-megawatt solar farm and a battery energy storage system (BESS) with a capacity of 14.2 megawatt-hours. The storage system allows electricity generated during sunny periods to be stored and used later, improving energy availability during periods of lower solar output. This is the first major…

Sarawak Petchem Sdn Bhd has announced plans to develop a green methanol plant in Tanjung Kidurong, Bintulu. The project was initiated during a ceremony led by Sarawak Premier Abang Johari Tun Openg. The plant will use renewable energy-powered water electrolysis and captured carbon dioxide to produce green methanol. According to Sarawak Petchem, green methanol can be used as a sustainable marine fuel. It reduces carbon dioxide emissions and supports efforts to address climate change. The plant aims to help Sarawak transition to greener energy and contribute to the global energy shift. The Sarawak Methanol Complex in Tanjung Kidurong, also developed…

Alternergy Holdings Corporation has raised $17.07 million (PHP 1 billion) through a loan provided by Rizal Commercial Banking Corporation (RCBC) to fund the construction of the 28 MW-peak Balsik Solar Power Project located in Hermosa, Bataan, Philippines. The project is planned to be finished by mid-2025. The Balsik Solar Power Project is part of Alternergy’s plans to expand renewable energy production in the Philippines. Construction of the plant is currently ongoing. Once operational, it will contribute to the country’s shift toward cleaner energy sources. In addition to the Balsik project, Alternergy has also worked with RCBC to secure financing for…

The Bugallon Solar Power Project, located in Pangasinan, Philippines, has secured financing and begun construction. The project is a joint venture between Vena Energy and MGen Renewable Energy Inc. It has a planned capacity of 550 megawatts (MW). The project is partly financed through a $325 million Green Loan facility. Security Bank Corporation, Rizal Commercial Banking Corporation (RCBC), and Philippine National Bank (PNB) are the lenders and hedging banks for the loan. SB Capital Investment Corporation, RCBC Capital Corporation, and PNB Capital and Investment Corporation are the lead arrangers, while RCBC acts as the green loan coordinator. Construction of the…

JERA Co., Ltd. and East Japan Railway Company (JR East) have entered into an agreement to introduce a corporate power purchasing model focused on renewable energy. This arrangement will enable JR East to source electricity generated offsite from clean energy facilities. The initiative is designed to provide renewable power to JR East’s commercial operations, starting from February 1, 2025. Under the agreement, JERA will supply solar energy through its subsidiary, JERA Cross Inc., which will act as the aggregator. East Japan Railway Trading Co., Ltd., a JR East subsidiary, will retail this electricity to Atre Oimachi and Lumine Yokohama, two…