Mainstream Renewable Power Expands Into Vietnam; Acquires 80% Of Solar Portfolio
Mainstream Renewable Power, the global wind and solar company, has signed an agreement to acquire an 80 per cent shareholding in Technology and Development Joint Stock Company Limited (D&T), which is developing a 405 MW portfolio of solar projects in the Dak Nong province of central Vietnam. The portfolio of three projects, which is included in the Vietnam Government’s Power Development Plan 7 (PDP 7) has been in development since 2019 and is expected to reach financial close in 2022. This deal marks the latest indication of Mainstream’s continued role as an enabler of renewable electrification in Vietnam.
Shizen Energy And Alamport Begin Construction Of 4.2MW Rooftop Solar Power Plants In Indonesia
Shizen Energy Inc. (“Shizen Energy”) and Alamport Inc. (“Alamport”) announced that they started the construction to install rooftop solar power plants (totaling 4.2 MW) at 13 locations including factories and shops in Indonesia. Shizen Energy and Alamport established a local subsidiary, PT ATW Alam Hijau, in collaboration with the ATW Group, which is the local partner engaged in the engineering, procurement, and construction of solar power plants. The companies are jointly developing the solar power generation business in Indonesia through PT ATW Alam Hijau. PT ATW Alam Hijau will install and manage a total of 4.2MW of rooftop solar power plants at a total of 13 facilities. This project has been selected for a Financing Programme for the Joint Crediting Mechanism (“JCM”) Model Projects in FY2020, by the Ministry of the Environment of Japan (“MOEJ”), with Alamport as the representative participant and Shizen Energy as one of partner participants. The project is implemented under the cooperation between the government of Indonesia and Japan.
EDPR Marks Its Entry Into Vietnam With Acquisition Of 28 MWac Solar PV Project
EDP Renewables (Euronext: EDPR), the fourth largest renewable energy producer in the world, has reached an agreement with Trina Solar, the world leading PV and smart energy total solution provider, to acquire a 28 MWac (35 MWdc) Solar PV project for a total consideration of $36m. The Trung Son Solar PV project is located in the Khanh Hoa Province, Vietnam, and is in operation since Dec-2020. The project has a Power Purchase Agreement (PPA) signed with Vietnam Electricity (EVN) under a 20-year Feed-in Tariff (FiT). The entry in Vietnam is within the context of EDPR Business plan 2021-25 and represents a first step towards the establishment of EDPR’s presence in Asia, in which EDPR expects to invest part of the c.5% allocated to other geographies within the 20 GW growth plan until 2025, providing diversification and growth optionality and further reinforcing EDPR’s worldwide leading position in renewables.
Malaysian Photovoltaic Industry Association : Malaysia Needs More NEM Quota To Drive The Solar Agenda
As of 6.00 pm on 30 June 2021, only 0.03 megawatt (MW) out of the 300 MW quota allocated for the Net Offset Virtual Aggregation (NOVA) programme under the existing Net Energy Metering programme (NEM 3.0) was left for application, as most of the quota had been applied by energy consumers, particularly those from the commercial and industrial sectors. The Malaysian Photovoltaic Industry Association (MPIA) would like to categorically state that this is indeed a very positive and encouraging sign, given the fact that the NOVA programme only commenced on 1 April 2021 and the uptake in three months is higher than the total NEM uptake in its first three years after its commencement in 2016. MPIA is in view that Malaysia should capitalize on our own advantages to establish ourselves as not only a global solar panel manufacturing hub, which we already are, but also a global hub of solar service providers, solar energy adoption and investment, as well as role model of solar policy and programmes. Therefore, MPIA is also strongly suggesting that the government re-open the New Enhanced Dispatch Arrangement (NEDA) for solar energy and enable the Third Party Access (TPA) for paid utilization of the national grid to transmit electricity generated from solar systems.
AC Energy, Citicore Partner To Develop 72 MW Arayat-Mexico Solar Farm
AC Energy and Citicore will work in partnership to develop the 72 MW Arayat-Mexico solar farm in Pampanga. The solar project is a 50-50 joint venture with an estimated development cost of ₱2.7 billion and is expected to be commissioned by the 1st quarter of 2022. This will be a critical contribution in Luzon, where the energy industry is working double time to ensure a steady power supply. Both AC Energy and Citicore share the same vision of accelerating renewable energy development and help the country achieve its greenhouse gas emissions target to a 75% reduction by 2030. Once the 72 MW Arayat-Mexico project is completed and operational, the new solar farm will generate enough power to supply clean energy annually to approximately 45,000 homes.