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Modern Energy Management Completes Development Role On AC Energy 120MWp Philippines Solar Project
Modern Energy Management (MEM), a specialist in developing, building and operating investment grade renewable energy projects in emerging markets, announced that it has successfully completed its role as the Owner’s Engineer for the Solarace 120MW solar project for AC Energy (PSE: ACEN) in the Philippines. MEM is assisted in the project by SIDCORE Consulting, a Philippine based consulting firm that has extensive experience from pre-development to implementation of renewable energy projects. AC Energy has a growing renewable energy footprint in Southeast Asia. The company set a goal to develop a capacity of 5000 MW of renewable energy capacity by 2025, of which almost half is slated to be developed in the Philippines. The Philippines’ overall renewable energy (RE) objective, per the “Renewable Energy Roadmap 2017-2040,” is an increase of RE installed capacity to at least 20GW.
Sharp Sets Up Joint Venture In Thailand Selling Solar-generated Electricity To Private Sector
Sharp Solar Solution Asia Co., Ltd. (SSSA) has concluded an agreement with Fuyo General Lease Co., Ltd. to establish S-Solar Generation Thailand Co., Ltd., which will sell electricity in Thailand. This is the first time that Sharp Corporation or one of its subsidiaries has entered the business of selling power to private companies. Under a PPA, customer companies signing contracts with the new joint venture will be able to have a solar power system installed with zero initial investment and use solar-generated power at a reduced rate. The new joint venture will install solar power systems on customers’ facilities (building roofs, for example) and sell the electricity generated to the customer at a rate lower than electricity from the grid. SSSA will be in charge of installing and maintaining the solar panels. Operation of a solar power generation system is scheduled to begin in March 2022 at an appliances factory, the first customer of the new joint venture.
Thai Utility GPSC Acquires 42% Stake in Avaada Energy for Rs 33.88 Billion
Thai energy producer Global Power Synergy PCL (GPSC) has signed a deal to acquire 41.6% stake in India’s green energy company Avaada Energy Private for Thai Baht 14.82 billion (Rs 33.88 billion). According to the GPSC statement, the company has a total committed capacity of approximately 3,744 MW, of which around 1,392 MW are operational and the rest 2,352 MW are under construction and expected to be operational by 2021-22. GPSC’s subsidiary World Renewable Synergy Firm will purchase the stake in Avaada in a deal which shall be among the many largest within the renewable power area in India. Avaada has a declared aim to build a 10 GW renewable asset base worth $ 5 billion by 2025.
Nakhon Ratchasima Solar Projects Completes its Last Debt Payment To Krungthai Bank
Constant Energy’s very first solar project in Thailand; Nakhon Ratchasima Solar (NRS) farm completed its last debt payment to their lender Krungthai Bank (KTB). KTB is the largest State-owned bank in Thailand, operating for more than half a century. Nakhon Ratchasima Solar (NRS) plant has been developed, built, and asset managed by Constant Energy Solar (Thailand) Co., Ltd. since 2011. The total capacity of this solar farm is 7.49 MW. Due to limited factory access during the COVID-19 pandemic situation in Thailand, the virtual ceremony was held to celebrate the final paycheck and a long-term partnership between Constant Energy, Sinar Mas Mining, SUN Energy, CKPower, and Krungthai Bank. Hunton Andrews Kurth LLP has also joined as a legal advisor in the transaction via Zoom meeting.
The Sembcorp Tengeh Floating Solar Farm Is Now Officially Open
Sembcorp Floating Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), and National Water Agency PUB, have officially opened the Sembcorp Tengeh Floating Solar Farm at the Tengeh Reservoir. With 122,000 solar panels spanning across 45 hectares (equivalent to about 45 football fields), the 60 megawatt-peak (MWp) solar photovoltaic (PV) farm is one of the world’s largest inland floating solar PV systems. The electricity generated from the solar farm will be sufficient to power Singapore’s five local water treatment plants, offsetting about 7% of PUB’s annual energy needs and reducing PUB’s carbon footprint. This is equivalent to powering about 16,000 four-room HDB flats and reducing carbon emissions by about 32 kilotonnes annually, the same as taking 7,000 cars off the roads.
Solarvest Won Contract For Commencement Of A LSSPV Plant In Kedah
Solar photovoltaic clinched its second consecutive contract win worth RM87.5 million to undertake the main engineering, procurement, construction, and commissioning (“EPCC”) works for a 20.76-megawatt (“MW”) large scale solar photovoltaic plant (“LSSPV Plant”) in Kulim, Kedah. The contract was secured from Energy ES Sdn. Bhd. (“Energy ES”), a consortium of Savelite Engineering Sdn. Bhd., Moderntent Development Sdn. Bhd., and Frasers Construction (M) Sdn. Bhd. With this contract win, Solarvest’s total order book for EPCC works under the LSS4 program now stands at RM130.4 million.
BayWa r.e. Celebrates 5 Years Of SouthEast Asia Solar Market
Global renewable energy developer, service provider and distributor, BayWa r.e. is celebrating five years supporting the Southeast Asia solar installer network with an average year-on-year sales growth of 50%. In the last 18 months, the BayWa r.e. Solar Distribution team has begun operating across the Philippines, Cambodia, Laos, and Myanmar, and even more remote regions within Malaysia and Indonesia. Since entering the region, BayWa r.e. has made more than 3,000 deliveries to various commercial & industrial and residential customers – helping thousands of households and businesses to gain access to clean, renewable energy.
In addition to supporting the solar distribution market in Southeast Asia, BayWa r.e. has also been busy developing new projects for commercial and industrial customers and utility-scale renewable assets. In the past five years, it has successfully brought online 500 MW of renewable energy in the Asia Pacific.