Week In South East Asia: Tuas Power And NEFIN’s Partnership, SP Group’s Entry In Vietnam and More

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Here are some of the top highlights of the week for solar energy in South East Asia.



Tuas Power And NEFIN Partner To Bid For 100MW Electricity Import From Malaysia

Tuas Power, Singapore’s market leader in power generation and electricity retailing, signed a Memorandum of Understanding earlier in June with NEFIN, a leading solar photovoltaic developer and investor in carbon neutrality solutions, to jointly bid for the 100 megawatts (100MW) of zero-carbon electricity import from Malaysia into Singapore. Tuas Power is Singapore’s leading electricity retailer, and is committed to bringing cleaner, more cost-competitive energy to its customers.


With its knowledge and experience, Tuas Power has helped them develop and implement many energy efficient programmes. NEFIN Malaysia is a Malaysian company under the project development arm of the wider NEFIN Group and specialises in project development and implementation of renewable energy projects in the Southeast Asia region, with Malaysia as one of NEFIN Group’s key markets. 

SP Group Gets First Solar Project In Vietnam Through Joint Venture With BCG Energy

SP Group (SP) and BCG Energy Joint Stock Company (BCG Energy), a wholly owned subsidiary of Bamboo Capital JSC, formalised a joint venture to invest in rooftop solar and explore other renewable energy projects in Vietnam. This partnership marks SP’s first JV platform in Vietnam. The joint venture (JV) is 51 per cent owned by BCG Energy and 49 per cent by SP.

The JV combines the expertise of both companies in developing innovative, sustainable energy solutions, aimed at accelerating Vietnam’s clean energy transformation. With an initial target to develop 500 Megawatts (MW) of rooftop projects by 2025, the JV will support Vietnam’s green ambitions to be a carbon-neutral economy, and increase the ratio of electricity produced from renewable energy sources to 30 per cent by 2030.

The JV also announced its first rooftop solar project with Vinamilk – Vietnam’s largest dairy production company and among the world’s Top 50 dairy producers by total sales. Under the agreement the JV will partner Vinamilk to install a combined 25 MW of rooftop solar across nine factories and seven farms. This enables Vinamilk to generate 35,000 MWh (Megawatt-hour) of clean electricity annually – enough to power 8,140 four-room flats per year in Singapore, or approximately 20,000 households in Vietnam.

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It also amounts to avoidance of annual carbon emissions by close to 32,000 tonnes, equivalent to taking approximately 7,000 cars off the road. As part of the agreement, the JV will also make an initial acquisition of 28 MW of operational rooftop solar assets across eight commercial and industrial sites located in South and Central Vietnam.

Construction Begins of the Floating Solar Plant in Masdar

Masdar is one of the leading companies for renewable energy. In recent news, Masdar and PT PJBI (subsidiary of Indonesia’s state-owned electricity company PT PLN) has now started its construction work on the Cirata Floating Photovoltaic Power Plant project. This is Indonesia’s first floating solar power plant.

The plant will start its operation in Q4 2020. The capacity of this plant is 145-megawatt (ac). This plant will be the largest in Southeast Asia and one of the biggest across the world. It is built on the Cirata reservoir in the West Java Province. The plant will power 50,000 homes and will add nearly 800 jobs.

By 2025, Indonesia is targeting 23% of its energy mix coming from renewable energy under its Electricity Infrastructure Acceleration Programme. Also, The Indonesian government recently announced to raise the proportion of renewable power to 48% in the 2021-2030 national electricity plan, from 30% as per its previous plan.

Malakoff Signs Six New Rooftop Solar Projects With DRB-HICOM Group

Malakoff Radiance Sdn Bhd, a subsidiary of Malakoff Corporation Berhad, has completed the signing of six Solar Power Purchase Agreements for the development of rooftop solar energy systems with companies under the DRB-HICOM Group.

The companies, namely CTRM Aero Composites Sdn Bhd, HICOM Automotive Manufacturers (Malaysia) Sdn Bhd, Isuzu HICOM (M) Sdn Bhd, HICOM Teck-See Manufacturing Sdn Bhd, HICOM Berhad and Motosikal dan Enjin Nasional Sdn Bhd are manufacturing and engineering arms of the DRB-HICOM Group.

The solar facilities will be installed under a Build-Own-Operate-Transfer (“BOOT”) contract as part of a 25-year SPPA. Upon completion, these facilities are expected to generate 18,836 MWh of clean electricity per annum. These will collectively neutralise about 13,072 tonnes of carbon emissions per year from the manufacturing industry.

LYS Energy To Install Rooftop Solar for Footwear Manufacturing in Vietnam

LYS Energy Group (LYS) completed the solar photovoltaic (PV) system atop the facility of the leading organization in the footwear manufacturing industry located in Long An province in Vietnam. The solar PV system installations encompass five metal roofs forming a total size of 2,958.56 kWp. The solar power plant will generate 75.68 GWh of total energy. Together with LYS Energy Group, the reputable manufacturer has agreed on a Power Purchase Agreement (PPA) whereby LYS will provide an all-inclusive solution that includes financing, design, installation, operation, and maintenance of the rooftop solar PV system for 20 years. 

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LYS Energy has selected the Talesun Bistar TP6F72M 410Wp PV module made of 144 half-cut Mono-PERC cells with 9 busbars. PV module innovations reduce PV module’s series resistance losses, provide better shading tolerance, and increase reliability which enhances power generation. The Group always selects top-notch components combined with high quality of service to provide our customers with the best solar energy experience.

DNV To Be A Technical Advisor For A Floating Solar Project In Indonesia

DNV, the independent energy expert and assurance provider, acted as the Lender’s Technical Advisor, during the development phase, for Indonesia’s first-ever floating solar photovoltaic (PV) project at Cirata Reservoir in West Java. The project owner, PT. Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), is a joint venture between the Abu Dhabi Future Energy Company PJSC – Masdar (MASDAR) and Indonesian state-owned electricity company Perusahaan Listrik Negara (PLN) subsidiary PJBI. PMSE achieved financial close for the project on the 3rd of August after the satisfactory completion of the lender’s due diligence review. The senior debt of the floating solar project is being provided by Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank. Once operational, the 145 MWac Cirata floating PV plant will be one of the largest of its kind in South East Asia. The region is already home to a number of large-scale floating PV systems including Vietnam’s 70 MW FPV system in Quang Thanh and Singapore’s 60 MW facility at Tengeh reservoir. The Cirata floating PV project will have a plant capacity of 145 MWac. All power generated by the plant will be supplied and sold to PLN under a power purchase agreement (PPA).

Malakoff Signs MoU With Koperasi Polis DiRaja Malaysia Berhad For Rooftop Solar Development

Malakoff Corporation Berhad has signed a Memorandum of Understanding with Koperasi Polis Diraja Malaysia Berhad to assess the feasibility of jointly developing rooftop solar projects at selected Polis Diraja Malaysia.

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building premises in Peninsular Malaysia. The collaboration comes under the Net Energy Metering 3.0 scheme or for Self-Consumption, whereby electricity generated from solar energy will be supplied to PDRM under a long-term Solar Power Purchase Agreement. The power generated from these rooftop solar projects will be at a lower tariff than the electricity tariff from the national grid, thus resulting in potential cost savings for PDRM. Managing Director/Chief Executive Officer Anwar Syahrin Abdul Ajib said this collaboration with KPDRM is yet another milestone in Malakoff’s expansion in the Renewable Energy (“RE”) segment as the Group embarks on a transformation journey towards decarbonisation by 2050.

AC Energy & NEFIN Enter Into A Joint Venture To Develop Rooftop Solar Projects Across Asia

AC Energy Corporation (ACEN), through its wholly-owned subsidiary, AC Renewables International (ACRI), has obtained board approval to enter into a joint venture with NEFIN Holding Limited (NEFIN), a leading solar photovoltaic developer and investor in carbon neutrality solutions. ACEN and NEFIN will establish a 50/50 joint venture holding company that will develop, construct, and operate rooftop solar projects across Asia.

The joint venture will own 21 MW of operating assets and has a robust near-term project pipeline. ACEN, together with NEFIN, has a strong commitment towards sustainability which is aligned with the UN Sustainable Development Goals.

Guided by ACEN’s Environmental & Social (E&S) policy on having a low carbon portfolio by 2030, protecting the environment and investing in communities, and NEFIN’s emphasis on ESG principles in investments, the joint venture plans to invest in socially responsible and commercially viable projects through innovative technological approaches that assist corporations to achieve a green recovery as economies pick up after the pandemic.

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