Japanese engineering company, Toyo Construction, has ordered a hybrid cable layer and construction vessel at Norway’s Vard, a Fincantieri subsidiary, which will be deployed in the offshore wind sector on both fixed and floating projects. As per the firm, “The 150m-long ship, costing more than $200m, will be built to a Vard 9 15 design suitable for offshore construction work in both shallow and deep waters in Japan and the international market. The vessel is likely to be deployed in the offshore wind sector on both fixed and floating projects. It will be capable of inter-array, HVAC export and interconnector…
Author: Rashida
The world’s largest wheeled crane has completed its first assignment on a wind farm in Yingkou, Liaoning Province, China. Located at the Dashiqiao Xintai New Energy wind farm, Chinese heavy machinery manufacturer XCMG’s XCA3000 hoisted a 25-tonne, 312-foot-long (95-meter-long) blade to a wind turbine’s hub at a height of 351 feet (107 meters). “The XCA3000 wheeled crane, designed specifically for erecting wind turbines, is 525 feet (160 meters) tall. It has a 3,000-tonne rated lifting capacity, can hoist 190 tonnes, and is able to install up to 10-megawatt (MW) wind turbines,” said the firm. As per the state-owned company claims,…
Members of the ASEAN Reinsurance Working Committee (ARWC) have signed a Memorandum of Understanding (MoU) to support underwriting capacity and set up the terms for the establishment of the ASEAN Renewable Energy Pool (AREP) under the supervision of ASEAN Insurance Council (AIC). Given the potential challenges in respect of the capacity and expertise in ESG/Renewable Energy and the complexity of the solar, wind, and other renewable energy resources, the inherent financial risk associated with these ventures can be potentially overwhelming for one insurance company to manage effectively. Therefore, there is a need for a group of companies to pool their…
Singapore-based Keppel Corporation Limited and GenZero, a Temasek-owned investment platform specialising in global decarbonisation efforts, have collaborated to expedite Southeast Asia’s shift towards clean energy. The Memorandum of Understanding (MOU) was signed during the 2023 United Nations Climate Change Conference, COP 28. The alliance aims at conducting joint feasibility studies to facilitate the retirement of coal-fired power plants (CFPP) across Southeast Asia and to move towards cleaner energy alternatives like solar power and geothermal energy. The firms will also focus on the considerable financing challenges involved in retiring CFPPs. The partnership aims to align with Singapore’s stringent environmental standards, as…
South Korea-based cable specialty company LS Cable & System, together with its consortium partners Jan De Nul Group and Denys, signed contracts for two 525 HVDC cable systems for the two grid connection systems BalWin4 and LanWin1. Last May, LS Cable & System said, it signed one out of three comprehensive long-term frame contracts with TenneT, the national transmission system grid operator in the Netherlands and Germany, to provide 2GW grid connection systems for its national extra high-voltage grid. However, recently, LS Cable & System announced that it signed contracts to supply high-voltage, direct current (HVDC) cable grid connection systems…
Cambodia has set an ambitious target to accelerate the implementation of renewable energy in the country. To this end, recently, the Council for the Development of Cambodia (CDC) approved SchneiTec Vibrant Co Ltd’s $65.5 million for the construction of a 60 MW solar power plant in Svay Chek commune of Svay Rieng province’s Rumduol district. This is expected to help lower electricity prices in Cambodia and attract financiers to invest directly in the country, as well as help improve the ability to export products to international markets. Minister of Mines and Energy Keo Rattanak stated at the recent “Mining and…
Singapore-based Gurin Energy, a renewable energy firm has confirmed the financial close for its 75-megawatt (MW) solar farm situated in Palauig, Zambales Province, the Philippines. It is spread over 80-hectare area, the farm will integrate approximately 136,363 ground-mounted, energy-efficient solar photovoltaic panels. The financial close, achieved through a joint partnership approach and a comprehensive investment process, will culminate in a total investment of USD 60 million. This Palauig Solar Power Plant marks the first solar project for Gurin Energy in the Philippines to secure financial closure and is part of the company’s expanding 7-gigawatt portfolio across Asia. The project’s groundwork…
Pertamina International Shipping (PIS) and Turkish Karpowership have formed a General Partnership Agreement (GPA) to develop critical energy infrastructure in Indonesia. The pact was signed during the COP28 in Dubai signifying the parties’ joint commitment to providing cleaner, more accessible energy solutions on a global stage. The agreement was signed by CEO of PIS Yoki Firnandi, and Doayan Karadeniz, Founding Partner of Karpowership. Karpowership owns, operates, and builds the world’s only Powership fleet, which is a floating power plant. As per the agreement, both the firms will join forces to explore and implement various initiatives aimed at advancing the energy landscape in…
American clean energy company, Infinite Power Corporation, through its Fiji subsidiary Infinite Power Clean Energy (Fiji) Pte Ltd (IPC), has signed a Power Purchase Agreement (PPA) with the Ministry of Fisheries and Forestry last week, sealing a deal to install its turbines in 27 locations around Viti Levu, Vanua Levu and Rotuma. The Agreement with the Ministry of Fishery and Forestry will allow IPC to invest $US55 million for the manufacturing and installation of 27 “ultra-modern” wind turbines totaling 19.75 Megawatts in the 27 locations. The firm claims that its state-of-the-art ultra-modern wind turbines will be a game changer in…
Contemporary Amperex Technology (CATL), the world’s biggest maker of batteries for electric vehicles (EVs), will set up a research and development centre in Hong Kong. As per the firm, the establishment of the centre would mark another win for a push by authorities to turn the city into an innovation hub. The CATL centre will be established at the Hong Kong Science Park and is expected to recruit about 500 staff and begin operating next year at the earliest, according to a government source. The firm said that the new centre will be located in a tech hub at the…