AC Energy Enables ~1,000 MW Of Renewables Capacity In Vietnam
As AC Energy takes significant strides in leading Asia Pacific’s shift to renewable energy, the company has long set its sights in a country with all the fundamentals to be the region’s leader in sustainable power. Already operating 525 MW of renewables capacity among its solar and wind farms, with 440 MW more under construction, Vietnam is AC Energy’s largest market to date outside of the Philippines. The company’s maiden project in the country, the 405 MW Ninh Thuan solar farm, is one of the largest solar farms in Southeast Asia. Developed together with the BIM Group and energized in 2019, the solar farm recently reached a significant milestone with 1 billion kWh output, clocking in 183,682 man hours for a sterling performance on health and safety with zero lost time due to accidents. Subsequently, the 80 MW Khan Hoa and Dak Lak solar farms, developed in partnership with AMI Renewables, also started its operations in 2019 and have since been contributing to the country’s clean energy supply.
Nam Theun 2 Shareholders Sign Project Development Agreement (PDA) For Hybrid Floating Solar Project
Recently, the Government of Laos and Electricité De France (EDF) signed a Project Development Agreement (PDA) for a hybrid floating solar project on the reservoir of the Nam Theun 2 hydropower project in Khammouane province. This hybrid floating solar project, led by EDF and co-developed with the LHSE and the EGCO, is targeting the construction phase to start in 2022 and operation to start by 2024. Dubbed Nam Theun 2-Solar or NT2-Solar, the project would become the largest hybrid floating solar project in the world, with an installed capacity of 240MWp* covering an area of 3.2 square-kilometers (less than 1% of the reservoir’s area at full supply level). The hybrid installation will allow the operation of the solar installation in conjunction with the hydro installation (1,080MW), with the objective to save water: when the sun shines, hydro generation will decrease and less water will be used, keeping it for the dry season. In average, the asset will increase by 6% the total generation of the Nam Theun 2 facility.
Sunseap & BP Batam Sign MoU To Build Floating Solar Farm And Energy Storage System
Sunseap Group and Badan Pengusahaan Batam (BP Batam) have signed a Memorandum of Understanding (MOU) for the building of a floating photovoltaic system (FPV) and energy storage system (ESS) on a reservoir in Indonesia’s Batam Island. The project is estimated to be around US$2 billion. Under the MOU, Sunseap will develop a FPV and ESS on Duriangkang Reservoir in the south of Batam Island. The FPV is projected to have a capacity of 2.2 GWp and span around 1600 hectares, making it the largest FPV in the world to-date. The ESS is also slated to be the largest ESS with a storage capacity of more than 4000 MWhr. Duriangkang Reservoir is the largest reservoir in Batam and was originally a saltwater bay. With a volume of 101.2 million m3, the Duriangkang Reservoir supports more than 50% of fresh water supply to Batam Island. The floating solar panels will be beneficial to reducing the evaporation, thereby retaining more water within the reservoir. Simultaneously, the water will also keep the solar panel cool allowing the panel to generate more clean energy, creating a synergistic relationship.
Sunseap expects the solar farm to generate more than 2,600 GWh of electricity per annum, potentially offsetting more than 1.8 million metric tons of carbon per year. This is equivalent to taking more than 400,000 cars off the road each year.
Cleantech Solar Completes 1 MW PV System For Automotive Parts Manufacturer, Daiwa Kasei in Thailand
Cleantech Solar announced the completion of a 1MW solar PV system for Daiwa Kasei (Thailand) Co., Ltd (“DAT”). DAT, with its parent company headquartered in Japan, is one of the world’s leading automobile parts manufacturers serving both domestic and international markets. The PV system will supply power to DAT under a long-term power purchase agreement (“PPA”) where Cleantech Solar has financed, designed, constructed and will own and operate the PV system across the period of the agreement. Over 2,000 solar panels are now installed on the rooftop of DAT’s manufacturing facility, and it is estimated that the rooftop solar power plant will generate over 1,300 MWh of electricity per year, equivalent to avoiding about 750 tonnes of carbon dioxide emissions.
Iberdrola Expands Renewables Portfolio By Acquiring Sowitec Vietnam’s 550 MW Green Pipeline
Iberdrola is continuing its growth in Asian Pacific renewable energy markets, with the acquisition of Sowitec Vietnam, a company with a 550-MW renewable pipeline under development. The pipeline consists of six projects, five onshore wind farms and a 50-MW floating photovoltaic project. The projects, set to be developed between 2022 and 2024 and with capacities ranging between 50 MW and 250 MW, are being developed as part of Vietnam’s energy strategy, which aims to mainly cover the growth of energy demand with renewable sources. This Southeast Asian country foresees the installation of more than 20,000 MW of renewable capacity by 2030 under long-term power purchase agreements (PPA) which will require foreign investment. The country, which foresees strong growth in both electricity demand and GDP, maintains a free trade and foreign investment protection agreement with the European Union, signed in 2020.
Municipal Green Bonds Key for Renewable Energy Funding in Indonesia
Indonesia has mandated a target of 23% for renewable energy towards the energy mix by 2025, as per the Nationally Determined Contribution (NDC) and National Energy Policy. It has also directed a cutback of 29% in the emissions of greenhouse gas by 2030 to combat climate change. The targets were reallocated towards social assistance, healthcare, and small businesses in the wake of the negative impacts of the COVID-19 pandemic. In the latest study of Climate Policy Initiative (CPI), “Accelerating renewable energy finance in Indonesia: The potential of municipal green bonds,” presented the use of sovereign bonds (municipal green bonds). This will support positive environmental and climate benefits which will help in addressing the country’s energy transition outlay gaps. The report depicts the feasibility of executing such bonds, while also mentioning how large-scale projects which are built on government assets are relevant to attract private investments and achieve scale in the long run. There are projects planned by municipalities including West Java, Central Java, and Jakarta. The project focuses on installing solar panels on public schools and municipal government buildings but there is inadequate financing.