A unit of Greenergy Holdings Inc. has inked a partnership with a Cainta, Rizal-based consortium for a solar panel project that aims to establish a sustainable residential community in Bacolod City. In its filling in the Philippine Stock Exchange, Greenergy said its wholly owned subsidiary, Winsun Green Ventures, Inc. (WGVI), has entered into a memorandum of agreement with WRS Holding Inc. and Scheirman Construction Consolidated Inc. As per the pact, the firm will be responsible for the design of the solar panel system and other green components for the development of a mixed-use integrated housing community in Bacolod City. “Under the agreement, WGVI shall…
Author: Rashida
Bangladesh is moving ahead with renewable energy investments. Currently, five fresh renewable power projects with a combined generating capacity of 700 MW are undergoing evaluation. As per reports, renewable power projects with a capacity of over 1,200MW have been approved and signed this year. Besides, proposals for 800MW from renewables (offshore wind and solar) have also been approved in principle including Denmark’s $1.3 billion offshore wind energy proposal, which secured government approval for feasibility study in October. These so far approved or under scrutiny projects, along with existing ones, would have a capacity of 2,700MW from renewable sources, as per…
A 25-megawatt solar power project by PetroGreen Energy Corp. n Bugallon, Pangasinan, has received approval by Mayor Priscilla Espino. The Yuchengco-led company expects the operations to begin in January of the coming year at a 25-hectare site in barangay Salomague Sur and is scheduled to provide renewable energy to the area by the last quarter of 2024. The solar project aims to generate 41,000 MWh of power annually, resulting in a reduction of 29,056 metric tons of carbon emissions. Mayor Espino expressed gratitude for the investment, emphasising its positive impact on power supply, job creation, social upliftment, and fiscal benefits for Bugallon and Pangasinan…
Being one of the vulnerable countries getting hit by the climate change induced calamities, Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar stressed on the need to immediately operationalise the Loss and Damage Fund and its utilisation on merit. It may be noted that Pakistan is currently focusing on transformation from coal-based power plants to renewable energy projects to contribute towards minimising the climate change impacts. Considering this, he said, “This is the area which could attract the interest of countries here in Gulf Cooperation Council (GCC) countries, UAE, Saudi Arabia, Kuwait, and the settled economies and democracies on the Western side,…
In order to promote offshore wind power in Japan, International energy firms such as Germany’s RWE to Spain’s Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide. As per reports, Japan is finding ways to ease its heavy dependence on energy imports from the Middle East and Russia and it is coming late to offshore wind. As per experts, it is taking a more cautious approach that puts it at a disadvantage. “It’s a global race and we can’t look at it in isolation,”…
Malaysia’s UEM Group Bhd’s Sustainability Sukuk Framework meets recognised green finance standards as per RAM Sustainability Sdn Bhd, after completion of its external review. RAM Sustainability is a wholly owned subsidiary of RAM Holdings Bhd, specialising in sustainability services and environmental, social and corporate governance (ESG) analytics. In a statement, it said, “The green initiatives to be financed under the framework for renewable energy (RE), energy efficiency, clean transportation and pollution prevention and control have the potential to contribute towards national decarbonisation targets as defined in the National Energy Transition Roadmap and the 12th Malaysia Plan.” “We have assigned the…
Renewable or clean energy accounts for more than 62% of the Cambodia’s total energy consumption. This was disclosed by Cambodia Minister of Mines and Energy Keo Rattanak recently at a forum. Speaking at a forum on “Mine and Energy Policy in Cambodia”, Rattanak said,” A number of countries have recognised Cambodia for its great achievements in shifting from reliance on fossil fuels to renewable energy.” Quoting an official, the local report said that the principle of the Association of Southeast Asian Nations (ASEAN) is that all member states should use 35% of energy from renewable sources by 2030. As per data,…
Singapore-based firm Sembcorp has ambitious plans to buy 428 MW wind projects in China and India. With this, its renewables capacity will rise to 12.6 gigawatts. Sembcorp Industries, through its subsidiaries, has signed separate deals to acquire a total of 428 megawatts (MW) of wind assets in China and India, estimated to be at $200m in total. In a statement, the firm said, “Sembcorp unit Sembcorp Energy (Shanghai) Holding entered an agreement with Envision Energy to fully acquire the share capital in Qinzhou Yuanneng Wind Power Co., which owns 200 MW wind projects in Guangxi, which is estimated to be…
China is working towards soaking up abundant energy from the sun and then beaming it back to Earth. To this end, Chinese scientists and engineers are currently focusing on technologies needed for building and running a space-based solar power facility. Hou Xinbin, a Senior Researcher at the China Academy of Space Technology in Beijing and a member of the Committee of Space Solar Power of the Chinese Society of Astronautics said that this will allow the sun’s energy to be captured nonstop, something that isn’t possible from Earth. He further said that after collecting solar energy, the space facility will convert…
The ASEAN region has 30,523 GW solar potential and 1,383 GW projected wind capacity, as per the report released by think tank Ember, which is an energy think tank that aims to accelerate the clean energy transition with data and policy. “With only 27 gigawatts (GW) of solar power and 6.8 GW of wind installed capacity in 2022, the Association of Southeast Asian Nation member states still have over 99% of wind and solar power potential capacity that remains untapped,” said Ember. Ember said, “The region has around 30,523 GW of solar and 1,383 GW wind potential, citing estimates by…