Chinese firm Mingyang Smart Energy has tied up with Unison Ltd., a South Korean wind turbine manufacturer and wind power company in Zhongshan, Guangdong. As per this localisation co-operation agreement, Mingyang will invest 400 billion Korean won, approximately 2 billion RMB, to promote its business in the domestic and international markets. The agreement was signed between Zhang Qiying, President and Chief Technology Officer of Mingyang Smart Energy, and Park Won-seo, CEO of Unison, while Zhang Chuanwei, Mingyang Smart Energy’s Chairman and CEO, was also present at the meeting. Mingyang will carry out various forms of localization cooperation with Unison, which…
Author: Saur News Bureau
VinFast, Vietnam’s EV manufacturer is expecting a tremendous boom in its EVs sales with an estimation of around 50,000 electric vehicles (EVs) to be sold this year. This is almost a sevenfold increase over 2022 with its export ramping up for North America and shipment beginning for Europe. This was disclosed by the firm during the AGM (Annual General Meeting). Speaking at the AGM, Pham Nhat Vuong, Chairman of the country’s largest conglomerate Vingroup and Founder of its auto unit VinFast, said, “We could hit break even as soon as the end of 2024 if things go as planned.” Vuong…
Chinese wind turbine maker Mingyang Smart Energy Group Limited has announced that it has secured a 306-MW order from Singaporean renewable energy company Vena Energy for two onshore wind projects in Philippines. Mingyang said that the two onshore wind projects are the 212.5-MW Talim and 93.75-MW Sembrano. Mingyang also informed that the wind projects will be located in the Province of Rizal and will be the country’s largest onshore wind projects and will feature Chinese wind turbines for the first time. The order includes the supply, transportation, installation and commissioning of 49 MySE 6.25-172 wind turbines of Mingyang as well…
Manila-based SunAsia Energy Inc. and Singapore-based Blueleaf Energy have partnered together to invest ~$1.7 billion in the development of 1.3 gigawatt-peak floating solar projects in the Philppines. The two firms have been awarded solar energy operating contracts from the Department of Energy (DOE), Philippines. The firms will be building rge-scale floating solar projects with a combined capacity of 610.5 MW for construction. With this, the Department of Energy (DoE) has issued the first set of Solar Energy Operating Contracts (SEOCs) for a total of 1.3 GW in floating solar projects. Speaking on the contract turnover ceremonies, Energy Secretary Raphael Lotilla…
The latest report of the International Energy Agency (IEA) has revealed that most of Southeast Asia’s energy security is at risk if it doesn’t develop more renewable power. It says that South East Asian economies have doubled in size since 2000. “However, this growth has been so rapid that it’s now threatening to outstrip the region’s ability keep pace with the energy demand in the region,” said the report. It also urges them to take urgent action to curb their greenhouse emissions, after relying on coal to power their economic growth. Energy demand has increased broadly in line with rises…
Sustainable solutions provider, Singapore’s Keppel Corp. is planning to undergo restructuring to transform itself into an asset manager focusing on green energy. The firm is claiming it to be its biggest-ever restructuring that would provide more stable revenue streams. Keppel recently it sold its core offshore and marine business to local peer Semcorp Marine for S$4.5 billion ($3.3 billion). Commenting on the firm’s transformation from being a diversified conglomerate to one integrated company, Keppel CEO Loh Chin Hua said, “This latest restructuring reflects a fundamental shift in how we organise ourselves to operate in a nimbler manner and harness technology…
Three firms, Washington-based Ultra Safe Nuclear Corporation (USNC), South Korea’s Hyundai Engineering and South Korea’s SK Ecoplant have signed a pact to produce carbon-free hydrogen production. As per the MoU, the firms will conduct research and development for the construction of a ‘Hydrogen Micro Hub’ at the SK Ecoplant, headquartered in Seoul’s Jongno district. The facility will produce hydrogen by applying a high-temperature electrolysis process of solid oxide electrolysis cells (SOEC) to the electricity and high-temperature steam generated by USNC’s Micro-Modular Reactor. The facility will use carbon-free hydrogen production method that extracts hydrogen by decomposing water with electricity generated from…
SOFAR- supplier of PV and Energy Storage System (ESS) solutions, demonstrated its portfolio at Green Energy Expo, while solidifying its presence in the Korean solar market. South Korea has previously announced a 2030 Renewable Energy Plan that aims to increase the proportion of renewables in energy mix to 20% by 2030. SOFAR showcased its newly tailored inverter, 100-125KTL-G4 for C&I and small-scale utility applications. Currently, high-power modules are the dominant technology in PV industry. Equipped with 40A*10 MPPTs ultra-high currents, the compatible inverter is expected to enable optimal yields and lower LCOE in complex terrains for end-uses. The firm says…
An upcoming renewable power plant by MGreen in Indonesia is set to export its green energy to Singapore. The development comes days after the two countries signed a Memorandum of Understanding (MoU) in this regard. MGreen is the renewable energy subsidiary of Meralco PowerGen Corp (MGen), a wholly owned subsidiary of Manila Electric Co. (Meralco), the Philippines’ largest electricity distribution utility. The firm owns 58 percent of PacificLight Power Pte. Ltd, which owns and operates a combined cycle turbine power plant in Jurong Island in Singapore. Jaime T. Azurin, President and CEO of MGen said, “We are right now looking into hopefully…
In a step towards providing a green and cost-effective source of energy for the country’s strong economic development and to achieve its commitment to net zero emissions by 2050, Vietnam Central Economic Commission organised a workshop with the support of the Embassy of Denmark in Hanoi. This was to provide a platform for the experts, Ministers in Vietnam, agencies with domestic and international agencies to exchange their experience and ideas to propose policies for the county to develop its offshore wind power industry. The workshop was organized by Copenhagen Infrastructure Partners (CIP)- global investor in offshore wind, which is also…