In a step towards encouraging renewable energy projects and foreign investments in the sector in the Philippines, the country’s private equity investor New Wave Strategic Holdings Incorporated (New Wave) and its Malaysian government-backed fund partner Emissary Capital are set to invest $50 million (around P2.74 billion) in renewable energy. As per the statement, the proposed investment will be towards building projects with 1,000 megawatts (MW) of “bankable capacity.” This proposal was among those presented to President Ferdinand Marcos Jr. during his recent three-day state visit in Malaysia. “New Wave is a subsidiary of investment holding firm IP E-Game Ventures Incorporated.…
Author: Saur News Desk
A major South Korean renewable energy consortium has negotiated exclusively with the Australian government to establish a Green Ammonia plant near Geraldton, an Australian city. As per the statement released by the government, Progressive Green Solutions, in partnership with Samsung C&T and KOMIPO (Korean Midland Power Co), are proposing to build a plant on two lots at Development WA’s Narngulu Industrial Estate. Located 12 kilometres southeast of Geraldton, Narngulu Industrial Estate is an important general industrial precinct for Geraldton and the Mid-West region. The facility intends to create up to 1 million tonnes of Green Ammonia per year using Green…
The year 2022 witnessed under 2% of the region’s total passenger vehicle sales passenger electric vehicle (EV) sales in Southeast Asia (SEA), as per Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker. Thailand emerged as the most advanced, accounting for 58% of the region’s EV sales, followed by Indonesia and Vietnam. EV sales in Thailand comprised 3% of total automobile sales in 2022. As per the latest research from Counterpoint’s SEA Passenger Electric Vehicle Model Sales, Thailand has again emerged as the leading country,with the most battery electric vehicle sales in the first three months of this year. The consistent…
Malaysia will build ASEAN’s largest integrated solar photovoltaic (PV) plant, according to the National Energy Transition Roadmap (NETR) launched on Thursday (July 27). In addition, the country will also introduce a mechanism that allows households to earn income by leasing out rooftops for solar panel installations. Economy Minister Mohd Rafizi Ramli has announced the commencement of Phase 1 of the NETR. As part of Phase 1, a significant milestone has been set with establishing a one-gigawatt (GW) integrated renewable energy (RE) zone, spearheaded by Khazanah Nasional Bhd. This zone will be developed through a joint venture between UEM Group and…
Various agreements have been signed between Japan and Gulf countries during Japan’s Prime Minister Fumio Kishida’s recent visit to the Middle East. These will pave the way for critical regional countries to become hydrogen partners. Kishida was accompanied by representatives from 40 Japanese companies, indicating its commitment towards promoting cooperation in green and renewable energy. Currently, due to low solar energy production costs, Middle east region is seen as a lucrative location to form a green energy production hub. It may be noted that at least seven agreements, many memorandums of understanding were signed between Japanese companies and Middle Eastern…
Malaysia’s Kinergy Advancement Bhd (KAB) – formerly known as Kejuruteraan Asastera Bhd– an energy and engineering solutions provider, has announced that the group’s wholly owned subsidiary KAB Energy Holdings Sdn Bhd (KABEH) has completed the acquisition of the entire equity stake of Matahari Suria Sdn Bhd (MSSB). The purchase consideration is reported to be around RM5.3 million, thus, further expanding its sustainable energy solutions (SES) segment’s portfolio. The firm informed that currently, MSSB is the owner of a solar PV system on the rooftop of Universiti Teknologi Malaysia Kuala Lumpur. In addition, it also has an ongoing renewable energy power…
Indonesia’s Ministry of Energy and Mineral Resources (ESDM) will soon initiate an integrated solar panel industry development project. Informing about this initiative during the Indosolar Expo 2023 event in Jakarta, Dadan Kusdiana, Director-General of New, Renewable Energy, and Energy Conservation at ESDM, said, “President (Joko Widodo) is expected to make a significant announcement about the integrated solar panel industry later this month or early next month.” He further revealed that Indonesia is on track to become the largest integrated solar industry in the region, supporting the 23-percent renewable energy target and net zero emission goals. “The project aims to establish…
Clean energy firm Malaysia’s Solarvest Holdings Bhd. has secured a contract from Dexcom Malaysia Sdn Bhd to install a 3.6 megawatt-peak (MWp) solar photovoltaic (PV) system at its manufacturing facility in Batu Kawan, Penang. The facility in Batu Kawan will be the first overseas facility of Dexcom’s US parent, Dexcom Inc, a provider of continuous glucose monitoring systems In a statement, Solarvest said, “It will serve as the engineering, procurement, construction, and commission (EPCC) provider for the installation of rooftop solar PV for the main building facilities and carpark.” With the expected generation of 3.6 MWp of clean energy, Dexcom…
ASEAN has the potential to become a global solar panel manufacturing hub given its rapid economic growth and high electricity demand. This was stated by Executive Director of IESR (Institute for Essential Services Reform), Fabby Tumiwa, at the Indosolar Expo 2023 held in Jakarta from 24-27 July. IndoSolar Expo is an annual solar conference and exhibition from Indonesia Solar Energy Association (“AESI”), aimed to promote collaborative efforts in promoting solar developments in Indonesia. Speaking at the event he said, “ We believe Southeast Asia has the potential to become a solar panel manufacturing hub to supply domestic and global demand.”…
South Korea and Indonesia recently discussed ways to enhance bilateral cooperation on electric vehicles, batteries and supply chains of significant industry minerals. According to the Ministry of Trade, Industry and Energy, the consensus was reached during the bilateral economic cooperation committee meeting in Seoul, led by Deputy Trade Minister Jeong Dae-jin and Indonesia’s Deputy Economic Minister, Edi Prio Pambudi. It further informed that the recent meeting was a follow-up to rounds of recent summit talks between South Korean President Yoon Suk Yeol and his Indonesian counterpart, Joko Widodo, who reached an agreement to enhance cooperation in high-tech industries, infrastructure and…