Week In South East Asia: Indonesia’s Floating Solar Plant Secures Funding; Constant Energy’s Solar Deal With Safran Cabin and More

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Final Funding Secured for 145-megawatt Floating Solar Power Plant of Indonesia

The largest Southeast Asian project of a 145-megawatt floating solar power plant secured its final funding approval. It is being built by UAE and Indonesia and will start the operation by next year. Masdar and PJBI have secured $140 million from multinational lenders for the project’s financing.Last year, the President of Indonesia, Joko Widodo secured an investment agreement in Abu Dhabi of $22.9 billion and this floating power plant is one of the projects agreed upon. 

The floating power plant will cover 250 hectares or 3% of the total area of the Cirata reservoir and construction of the same has already started. In this area, PJBI already operates a 1,008-megawatt hydropower plant.

Constant Energy Signs 1.4 MW Rooftop Solar Deal with Safran Cabin in Thailand

Safran Cabin announces the execution of the first solar corporate PPA with Constant Energy. The project is a 1.4 MW solar rooftop located at the Safran Cabin Lamphun factories in the Northern Region industrial estate, in Thailand. This is the fifth PPA project of Constant Energy in the Northern Region. It will support Safran Cabin in reducing its carbon footprint (nearly 17,000 Tons over the PPA term) and reduce operating expenses thanks to a solar tariff substantially cheaper than the current utility. Due to limited factory access during the COVID-19 pandemic situation in Thailand, an e-signing ceremony celebrated this new long-term partnership between Safran Cabin and Constant Energy. Olympus Capital – Constant Energy’s shareholder – also joined the e-ceremony. There were 11 participants located in France, Thailand, India and Singapore.

Solarvest Secures Contract To Develop 17.36MW Solar Farm In Malaysia

Solar PV system specialist, Solarvest Holdings Berhad has today secured a RM66 million contract, its third win in one month, from Grooveland Sdn. Bhd. to develop a LSSPV plant in Mukim Bota, Perak. The Group will undertake the main EPCC works for the 17.36MW solar farm. With the latest contract, Solarvest’s new EPCC orders secured from the LSS@Mentari programme grew to approximately RM196 million, boosting its total unbilled order book to a record-breaking high of RM400 million. Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong said, “We are pleased to be growing on several verticals and continue to benefit from national programmes such like LSS@Mentari and NEM 3.0. While our delivery timeline has been pushed back due to the lockdown measures, project orders remain very active from both the LSSPV, and Commercial and Industrial segments. The demand for solar continues to be resilient and is on an upward trajectory albeit the challenging operating landscape.”

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