Bahrain based Investcorp, an alternative investment firm, has announced the completion of acquisition of a controlling stake in Shandong Jianuo Electronics Co. Ltd. Jianuo is based in the Shandong Province and China’s Greater Bay Area, it provides specialty premium components used in fast-growing high-end applications such as electric vehicles power management, battery charging infrastructure, solar and wind power generation, and 5G base station infrastructure. In its statement, the firm informed that Jianuo is well-positioned to benefit from the domestic and international drive for energy transition, decarbonisation and increasing automation.The firm has become a highly regarded R&D and advanced manufacturing partner…
Author: Saur News Desk
In a move to boost renewable energy resources, Vietnam has approved the Power Development Plan VIII (PDP8). With this, it aims to aggressively develop renewable energy sources for electricity generation and reduce its dependability on coal. The plan is expected to ensure national energy security by supplying adequate electricity and to achieve the target of an average GDP growth rate of approximately 7 per cent per year over the 2021-2030 period and 6.5-7 per cent on-year over the 2031-2050 period. As per the statement, the total estimated investment for the development of power sources and transmission grids for the 2021-2030…
Following the proposal of the shareholders, China’s Evergrande New Energy Vehicle Group will dispose of two subsidiaries and will undergo restructuring, according to a firm’s filing with the Hong Kong stock exchange, recently. The filing noted that as per the recent voting done by the shareholders, more than 50% of the votes favoured the proposal raised in late April. The EV unit on April 25 announced the plan to sell two debt-laden companies to another unit under China Evergrande as part of the auto firm’s restructuring. The firm disclosed in its previous stock filing that the EV unit was expected…
The Future Energy Show & Solar Show Philippines, the largest energy event in the country, has begun on 15 and 16 May, 2023 at SMX Convention Center Manila. This aims to bring together the energy community that would draw a roadmap for the future of energy in the country. Being one of the most significant events for the sector in the Philippines, the 2023 edition is reported to be the biggest edition with over 150 global and regional leading energy solution providers. The participants include CHINT Electric Global, Enphase Energy, Trigon Asset Management, Renova, Jinko Solar, Trina Solar, Longi, Sungrow,…
TotalEnergies ENEOS has signed a pact with Golden Victory Vietnam Co., to develop a 4.6 megawatt-peak (MWp) solar photovoltaic (PV) system at its facility in Nam Dinh Province, Vietnam. With this, their total solarisation system size to 7.5 MWp. Golden Victory is one of the biggest shoes and footwear manufacturers and a key supplier for globally renowned sportswear brands. The PV system has over 7,900 of modules installed and is expected to produce approximately 5,200 megawatt-hours (MWh) of renewable electricity, annually. It would help the firm in significant cost savings for Golden Victory and reeducate company’s carbon footprint by about…
The Philippines Department of Energy (DoE) has amended the auction schedule for the upcoming 11.6 GW green energy auction. As per the new schedule, the auction has been postponed to May 19 from the previously assigned date of May 12. Hence, after the registration of qualified suppliers, the evaluation of those applications will be carried out between May 22 and May 24, which was previously marked from May 15-17.The DoE will publish the names of the qualified suppliers on June 1 instead of May 24 and pre-bid conference will be held on June 6, 2023. As per the DoE, those…
Japan’s Shizen Energy has partnered with investor Inmark Asset Management and South Korean Dohwa Engineering Co., Ltd. to form a joint venture named Inmark Jayeon Energy, that will focus on developing renewable energy projects in South Korea. As per the agreement, Shizen will hold 40% and the remainder will be shared between the other two local partners. The venture would focus on projects targeting onshore and offshore wind, solar and storage. The South Korean government’s 10th Basic Plan, which was introduced in 2023 for electricity supply and demand has projected that the share of electricity generated from renewable sources in…
The Leyte provincial government in the Philippines has plans to invest about PHP70 million to install a solar power system at the new provincial capital complex before the end of this year. Commenting on this, Leyte Governor Carlos Jericho Petilla said, “The local government will soon use alternative, sustainable, and environment-friendly energy instead of sourcing from fossil fuels. The project will be bid out soon. Once awarded, this will be up and running within three months. The payback period is seven years and it will last for 25 years.” It is reported that solar panels will be installed on both…
Nozomi Energy- a new renewable energy platform has been set up by London-based global infrastructure investor Actis. The new firm aims at 1.1 GW of onshore wind and solar power generation in Japan by 2027 with an investment of $500 million. The firm said in its statement that the investment for Nozomi Energy has come from its latest $6 billion energy infrastructure fund. Actis already has investments in 12 GW of renewable energy capacity globally, it noted. As a first step, Nozomi has already signed its first investment and seed asset by acquiring 100% of Hergo Japan Energy Corporation, which…
In a bid to electrify the local transport and rising calls from the public, the Philippines Government will include e-motorcycles in the import tariff incentives. E-motorcycles will be the focus of the mandatory review of an Executive Order (EO) 12 issued by the President, as per the economics official. The EO .12 is reported to take effect in nine months from now. National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan is reported to have issued the statement in response to the rising calls from the public to expand the coverage of Executive Order 12 to include all types of…