Author: Saur News Desk

Philippines is gaining momentum in setting up renewables in the country. Recently, the President of Philipines R. Marcos Jr., directed Department of Energy to map a  policy and design administrative framework for offshore wind development and to begin work related to grid development. With this, it is expected that it will accelerate offshore wind development in the Philippines and contribute to reaching the country’s targets of 35 per cent of renewable energy in its energy generation mix by 2030 and 50 per cent by 2040. Presently, it is reported to have 22 per cent of renewables feeding electricity into its…

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‘Catch them young’ goes the saying and schools in Singapore are following just that. Singapore is ramping up initiatives to educate students on climate issues and using clean energy under the programme called SolarNova Programme. More than 180 schools joined the programme, that involves installation of solar panels on their rooftops, said the Ministry of Education (MOE). The ministry further revealed that over 40 of them have finished installing the panels so far, which is double than the previous year. The initiative was last undertaken in 2021. All these activities have been introduced with a focus on making school students…

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In a step towards developing a green and circular economy, Vietnam is coming up with strategies to boost green credit. Since green credit plays a significant role in sustainable economic development, Vietnam has introduced the national green growth strategy for 2021 – 2030, targeting green credit and green banking. Vietnam’s green economy aspires to reach  300 billion USD by 2050, from 6.7 billion USD in 2020. Reports on green credits said that by the end of 2022, the outstanding credit for green projects was estimated at approximated 500 trillion VND (21.3 billion USD), accounting for some 4.2% of total outstanding…

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South Korea and the US have entered into various MoUs focussing on enhanced bilateral agreements. Signed in Washington DC, 10 agreements have been signed around batteries while the other thirteen will look at giving a push to energy cooperation. These will also entail carbon neutrality and hydrogen. Doosan Co., SK Inc, Lotte Chemical and HD Korea Shipbuilding & Offshore Engineering Co. lent participation. The US was represented by Boeing, GE, ExxonMobil, Siemens. Seoul’s Korea Battery Industry Association and some other firms entered into an agreement with NATTBatt based in US. This partnership will pave the way for R&D on secondary…

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The Maritime and Port Authority of Singapore (MPA) has signed an MoU with the Port of Los Angeles (POLA), and the Port of Long Beach (POLB), with the support of C40 Cities, to build a Green and Digital Shipping Corridor (GDSC) between Singapore and the San Pedro Bay port complex to boost decarbonisation of the maritime industry and enhance efficiencies through digitalisation. In August last year, the MPA established as the world’s longest GDSC  with the Port of Rotterdam. Speaking at the opening ceremony of Singapore Maritime Week, S. Iswaran, Singapore Minister of Transport, said, “This GDSC, which is supported…

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Singapore-based renewable energy firm, Vena Energy, has begun the operation of Taiwan’s largest 272 MW E2 Solar Project. It is one of the firm’s largest operating projects as well. Spread on 226 hectares, the E2 Solar Project features 680,000 solar photovoltaic panels with an installed capacity of 272 MW, which can generate  around 400 million kWh annually. This is equivalent to the annual electricity requirements of more than 90,000 Taiwanese households, which is up to four per cent of Taiwan’s total solar energy output, thus making it a major contributor to Taiwan’s transition to green energy. Speaking at the inauguration…

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The government of Germany has shared that it will be aiding the Philippines’ transition to renewable energy.  This was as informed by Jennifer Morgan, the Special Envoy for International Climate Action, and Germany’s State Secretary. Morgan added that Germany is looking at exchanging technology as well as expertise in onshore and offshore wind power. Opportunities in other renewable energy sources will also be explored. She added that the Philippines boasts of vast reserves of renewable energy, like wind and solar.  She further spoke about the German priority to forge partnerships with the private sector and others in order to assist…

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A wholly-owned subsidiary of Mudajaya Group Berhad (MGB), Mudajaya Energy Sdn Bhd (MESB), has signed a Memorandum of Understanding (MOU) with Concord New Energy Group Ltd (CNE). The agreement will pave the way for a joint venture between the two firms aiming at the development of renewable energy projects in Southeast Asia and China. Concord New Energy delves primarily into wind power electricity generation. The two firms have joined hands towards the submission of proposals for the execution of mutually agreed upon particular domestic and foreign projects in the regions. These will specifically look at solar and wind energy power…

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Argus, a leading global energy and commodity price reporting agency, launched the world’s first international renewable energy certificate (I-REC) prices for China on Thursday. It helped get a trend on the renewable power premiums for the world’s largest certificate issuer and electricity production base.  “Expanding our I-REC coverage to include China, the world’s largest market, introduces essential new pricing transparency that enables energy producers and buyers to use independent price references to index supply agreements, manage risk, and plan energy sales and procurements. This new insight plays an important role in driving the transition by helping to identify the source…

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Spanish firm Solarpack has raised MYR285 million through its project company, 3SP which issued an ASEAN Green SRI Sukuk Wakalah in accordance with the ASEAN Green Bond Standards, the Securities Commission Malaysia’s Sustainable and Responsible Investment Sukuk framework and the International Capital Market Association’s Green Bond Principles. In its statement, it said that these Islamic notes comprise 38 semi-annual tranches with tenors ranging from 1 year to 19.5 years framed in a way that would match closely with the cash-flow generation from the Project. The net proceeds from the issuance have been utilised to refinance the bridge loan raised to…

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