Renewable energy engineering and project management consultancy, K2 Management (K2M), has been appointed by MunmuBaram Co., Ltd, a joint venture of Shell and Hexicon AB, as the lender’s technical advisor for the MunmuBaram floating offshore wind project. The MunmuBaram JV aims to develop, construct, and operate a 1.3GW floating offshore wind farm, located in Southeast Korea between 65 and 80 km offshore from the city of Ulsan. In this first stage as the Lender’s Technical Advisor, K2M will support the client by reviewing the general project status and conducting a bankability assessment. In the second phase, K2M will provide full…
Author: Saur News Desk
America’s automotive and renewable energy firm, Tesla will be opening a factory in Shanghai to produce its Megapack large-scale batteries. Tesla has informed that this Megafactory in Shanghai will be capable of the annual production of 10,000 Megapacks , which is equivalent to its other Megafactory in Lathrop, California, about 70 miles east of San Francisco. Elon Musk, Tesla’s CEO, informed via a tweet that the factory in Shanghai would supplement the production in California. As per local reports,the factory in China will be built in Lingang, a suburban area of Shanghai where Tesla’s vehicle factory is also located. Lu…
Malaysian Betamek Bhd, an automotive electronics manufacturing services (EMS) provider, has signed a 25-year PPA with ManagePay Systems Bhd to incorporate solar energy utilisation at its electronic products manufacturing facility in Rawang, Selangor. As per the solar power purchase agreement (PPA), ManagePay’s wholly-owned unit, ManagePay Resources Sdn Bhd (MRSB), will be responsible for the installation, operation and maintenance of the solar generating facility at Betamek’s Rawang facility with minimum capacity of 515.2-kilowatt peak (kWp). Further, as per the solar PPA, Betamek will pay for the solar-generated power based on electricity tariffs which is a 30% discount of the prevailing tariff rate.…
The recent ‘Photo Voltaic (PV) Price Forecasting Report’ released by the Clean Energy Associated (CEA) claimed that the solar PV module pricing in China would drop around 15 percent from the fourth quarter (Q4) of 2022 to the Q4 of 2023. The report said this is primarily due to the reduction of polysilicon prices. The report also said that the module pricing in Southeast Asia is slated to decrease around 5 percent at the same time as the key suppliers are expected to return to operations after some disruptions. The report also said that for the United States (US), the…
The recently established Singapore’s IPP platform Athein, a Joint-Venture partnership between four Southeast Asian companies, is all set to build over 500 MWp of utility scale and commercial and industrial solar power across Philippines. This JV between- ATAD, Hexagon Holdings and Invenic and their founders – Dong Hyunh, Milan Koev and Edmund Yen – aims at developing, building and operating assets in four key geographies – Vietnam, Philippines, Indonesia and India through M&A deals and self-originated pipeline with a target to achieve 2 GWp of operational capacity by 2030. Recently, the Philippines government announced exemption of rules to promote renewable…
The Indonesian government has an ambitious plan of reaching 2.5 million EV users by 2025 and reducing air pollution by 29% by 2030. To fulfill its aim, this year the country will subsidise the purchase of EVs. Further, in 2035, the Indonesian Ministry of Industry aims at producing ~1 million four-wheelers and 3.22 million two-wheelers, This step will bring the country closer to its commitment of reducing carbon emissions and achieving the Net Zero Emission target by 2060. In the latest Fitch Ratings report, it is estimated that four-wheeler EV sales will accelerate to 5% of Indonesia’s total car sales in…
For the better management of solar power, the Electricity Generating Authority of Thailand (EGAT) has developed the first platform for the exchange of electric power in collaboration with Kasikornbank (Kbank) and Kasikorn Business-Technology Group. The application called – Punfai application will enable the management of power generated from solar panels that will allow users to share their surplus electricity for a good return and facilitate reduction in the electricity cost. As per the statement, the project is expected to start the trial in the third quarter. This application will facilitate shorter payback period and help in the maximum usage of…
A recent research report by the Institute of Energy Economics and Financial Analysis (IEEFA), released on Wednesday, claimed that Bangladesh could incorporate around 1,700 Megawatt (MW) to 3,400 MW of solar energy during the day and around 2,500 MW-4,000 MW of wind energy at night into their existing power system. The report said that the South Asian country is already struggling with higher electricity subsidies, over-dominance of fossil-fuel energy, and import dependence. Bangladesh has already established a target of ensuring 40 percent of its total power comes from clean energy sources by the end of 2041. The IEEFA report claimed this would demand…
SMC Global Power Holdings Corp, the power arm of Philippines-based conglomerate San Miguel Corp which is running behind the plan of delivering a 1 GW/1 GWh fleet of battery energy storage systems (BESS) by the end of last year, continues to launch big batteries across 32 sites in the Philippines, that will integrate up to 5 GW of renewables into the island nation’s grid. SMC unveiled a 50 MW BESS in Limay, Philippines, as part of its nationwide 1 GW/1 GWh roll-out. Limay is one of 32 battery sites the group is building across the islands of Luzon, Visayas, and…
Recently, Philippines disclosed the country’s renewable energy (RE) road-map at 13th session of IRENA in Abu Dhabhi where it highlighted its energy transition goal to increase the renewables share in the power generation mix to 35 percent by 2030 and 50 percent by 2040 from the current level of 22 percent. In a step towards achieving this goal, in the coming month of June,the Philippines will auction rights to build up to 11,600 megawatts of new power capacity from renewable sources in the next three years, gradually reducing its dependence on coal. Dwelling on the auction and the sources for…