Representative image. Credit: Canva
BII and FMO invest $50 million in BECIS to boost renewable energy in Southeast Asia
British International Investment (BII), the UK’s development finance institution, along with Dutch business development bank FMO, today announced a US$50 million co-financing of BECIS, an energy-as-a-service provider in Southeast Asia. This investment aims to support BECIS’ expansion in renewable energy solutions in Vietnam, Philippines, Indonesia, Thailand, Malaysia and India. BECIS specializes in providing sustainable energy services, including rooftop solar, bioenergy and energy efficiency solutions. The company’s goal is to promote the use of renewable sources to optimize energy consumption and increase energy infrastructure and literacy in Asia. The initiative is part of a broader effort to meet the growing demand for affordable and clean energy in the region.
Citicore Renewable Energy Corporation Secures Historic Financing Agreement with RCBC for Multiple Solar Power Plant Projects
Citicore Renewable Energy Corporation (CREC) has reached a groundbreaking financing agreement with Rizal Commercial Banking Corporation (RCBC) to finance multiple solar power plant projects. The deal, facilitated by RCBC Capital Corporation, marks a significant change in the structure of project financing in the Philippines. The financing arrangement is intended to provide up to PhP 20 Billion in financing with an initial tranche of PhP 9 Billion earmarked for the development of solar power plant projects in Batangas, Pampanga and Negros Occidental. This financing model, which goes beyond the conventional per-project approach, covers diverse project portfolios.
DNV Partners with PT PLN Engineering to Improve Disaster Recovery Control Systems in Indonesia’s Power Grid.
DNV, a renowned independent energy expert, has signed a Memorandum of Understanding (MoU) with PT PLN Engineering (PLNE), a subsidiary of Indonesia’s state-owned power distribution company PT PLN (Persero), marking a strategic collaboration aimed at strengthening disaster recovery. Management systems within Indonesia’s energy infrastructure. The two-year MoU, recently signed in Jakarta, represents a collaborative effort in the design of Scada/EMS, which is critical to ensuring the reliable and efficient operation of smart grids and microgrids, which are vital components in Indonesia’s energy decarbonization journey. Despite Indonesia’s status as a major coal exporter in Southeast Asia, the country has committed to phase out coal by 2055 and achieve net carbon emissions by 2060. However, according to DNV’s Energy Transition Plan to 2023, the country has faced difficulties in gathering support. initiatives to phase it out.
Shell Philippines Embraces Solar Energy: Partnership with LONGi Netsolar Accelerates Renewable Energy Transition
Expanding on renewable energy resources, LONGi, a globally recognized solar panel manufacturer, has partnered with Netsolar to install modules at Shell gas stations in the Philippines and turn them into green-powered facilities. In the Philippines, coal-fired power plants provide 60% of the country’s electricity. This significant collaboration brings LONGi’s Hi-MO X6 high-efficiency solar panels directly to 27 of Shell’s gas stations. With an average system size of 30 kW and a total national generation of 755 kW, this allows each plant to reduce electricity costs by a significant 40%. Safety is a top priority for gas stations. LONGi has adopted the Hi-MO X6 model to meet safety and reliability requirements.
Malaysia sets up energy exchange to sell cross-border renewable electricity
The Malaysian government has approved the establishment of the Malaysian Energy Exchange (Enegem) to facilitate the sale of renewable electricity to neighboring countries. According to a statement from the Ministry of Energy Transition and Water Transformation, the establishment of Enegem is in line with Malaysia’s energy transition goals and commitment to support regional energy integration through the ASEAN Power Grid Initiative (APG). Enegem will operate in accordance with the latest ‘Borderless Electricity Sales Guide (CBES) issued by the Energy Commission and will invite interested parties to participate in the first auction to purchase renewable electricity to be exported from Malaysia’s power supply system. Singapore through the Enegem Platform.
JA Solar partners with INPOS to donate a Mobile PV System to Vietnam Electricity University
JA Solar, in cooperation with INPOS, generously donated a mobile photovoltaic (PV) system to the Electric Power University of Vietnam (EPU), enabling students to explore the field of renewable energy technologies. This initiative aims to provide students with hands-on experience and experience in the energy sector. The mobile PV system developed by INPOS and equipped with JA Solar’s high-end PV modules serves as a hands-on platform for EPU students, facilitating direct interaction with PV technologies and applications. This invaluable experience enriches their understanding and skills in the field of energy. As a leading renewable energy technology firm, INPOS specializes in the design, development and implementation of renewable energy solutions. Leveraging its extensive experience, INPOS enriches the learning experiences of EPU students with their technical expertise, ensuring seamless delivery of the mobile PV system.
1 partners with Solarvest to install Malaysia’s largest solar PV system on the roof of Utama Mall.
1 Utama Shopping Centre, managed by Bandar Utama City Center Sdn Bhd (BUCCSB), has hired Solarvest Energy Sdn Bhd to install its largest on-site solar photovoltaic (PV) and building integrated photovoltaic (BIPV) system in Malaysia. Covering approximately 273,300 sq ft on the mall’s rooftop and parking areas, the facility will generate more than 5,700 kW of renewable energy and power the entire shopping complex. Solarvest, a subsidiary of Solarvest Holdings Berhad, is responsible for the engineering, procurement, construction and commissioning (EPCC) of the solar power project. Initial field studies were conducted to ensure that the system effectively meets the specific energy requirements of Unit 1.
Singapore’s foreign minister discussed cooperation in the field of renewable energy during his visit to the Philippines
Minister of Foreign Affairs of Singapore Dr. Vivian Balakrishnan went on a business visit to the Republic of the Philippines from April 15 to 18, 2024. between two nations. During his visit, Minister Balakrishnan held discussions with President Ferdinand Marcos Jr., where both sides reiterated the strong ties between Singapore and the Philippines. They explored ways to expand bilateral cooperation and exchanged views on regional events. Minister Balakrishnan also met with Foreign Affairs Minister Enrique Manalo where they discussed various areas of cooperation including people-to-people relations, renewable energy and the ASEAN Power Grid. After the meeting, they presented a commemorative logo dedicated to the 55th anniversary of diplomatic relations between the two countries.
Vietnam Offers Incentive Policies for Rooftop Solar Development
The preliminary decree proposes three main incentives: exempting the installation of rooftop solar panels from strict compliance with the 8th National Energy Development Plan, allowing rooftop energy sources to be connected to the national grid in case of excess capacity, and credits used to invest in storage equipment. During the meeting, Tran emphasized the importance of rooftop solar in protecting national energy security, and stressed the need for mechanisms and policies to encourage organizations and individuals to invest in rooftop solar expansion. The decree should clearly describe the content, objectives and appropriate institutions for the installation of rooftop solar energy under the self-production and self-consumption model, allowing the design of appropriate promotion policies, mechanisms or safety and fire protection regulations.
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