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AC Energy’s MonteSol Solar Farm Receives Safety Seal From Department of Labor and Employment (DOLE)
AC Energy Corp’s 18-megawatt (MW) MonteSol solar farm in Bais, Negros Occidental received a safety seal certification from the Department of Labor and Employment (DOLE) for its compliance with the minimum standard set by the Inter-Agency Task Force for COVID-19 prevention protocol. It is the first solar farm in the region under the utilities category to be awarded by DOLE outside Cebu province. The certification is a public assurance of MonteSol’s strict compliance with preventive and control measures before entry to buildings or workplaces; preventive and control measures inside the workplace; minimizing and reducing contact rate; management of symptomatic individuals at the workplace; information, education, and communication strategies; occupational safety and health committee; notification and reporting; disinfection and closure of buildings and workplaces; and leave of absences and entitlements.
Shooting Gallery Asia Signs Solar Rooftop PPA With Urban Renewables In Singapore
Another round of creating sustainable communities within a city; URBAN RENEWABLES develops a solar rooftop project for Asia’s one-stop shop media production company, Shooting Gallery Asia, to embark on its sustainable journey in Singapore. The solar system sits at a capacity of no less than 160kWp, with the solar energy supplied through a long-term Power Purchase Agreement (PPA). At least 220,000kWh guaranteed energy output will be consumable for the business operations. Hence, Shooting Gallery Asia can expect over SGD 270,000 of earnings over the contracted term and reduce 134 metric tonnes of CO2 emissions annually. As a holistic sustainable energy developer, URBAN RENEWABLES will manage the entire life cycle of the project and its deliverables.
Sembcorp Industries Posts Net Profit of S$46 Million in 1H2021
Sembcorp Industries (Sembcorp) posted a Group net profit of S$46 million for the first half of 2021 (1H2021) compared to a net loss of S$42 million in 1H2020. Turnover was S$3.3 billion, up 26% from S$2.6 billion in 1H2020. Group net profit before exceptional items grew 69% to S$252 million, mainly due to higher contribution from the Conventional Energy segment. In 1H2021, exceptional items totalling a negative S$206 million were recognised, due to an impairment of S$212 million made for the 49%-owned Chongqing Songzao coal-fired power plant in China.
Lagenda Properties And Solarvest Collaborate For Building A Sustainable Town In Malaysia
Affordable housing and integrated township developer, Lagenda Properties Berhad has appointed clean energy specialist, Solarvest Holdings Berhad (“Solarvest”) as its solar photovoltaic (“PV”) systems partner to build the largest sustainable affordable township in Malaysia. For a start, Solarvest will install 1,000 residential solar PV systems across three township projects developed by Lagenda Properties in the state of Perak, Malaysia. These solar-ready homes are in line with the Malaysian government’s recent launch of the NEM Rakyat program. The PV system can generate energy up to 98% of the monthly electricity usage.Solarvest will be supporting Lagenda Properties to build these future-forward homes by undertaking the solar design, supply, installation, testing, and commissioning works for the selected 1,000 homes located in Perak. Upon completion of the project, the three townships will potentially produce approximately 2.8GWh of clean electricity which neutralises about 1,950 tonnes of carbon emissions per year.
Nordic Impact Cooperation Makes Its First Investment In Solar PV Project In Vietnam
Nordic Impact Cooperation AS (“Nordic Impact Cooperation”), owned by the Finnish Fund for Sustainable Development (“Finnfund”) and Norsk Solar AS (“Norsk Solar”) has made its first investment decision into a Norsk Solar-developed solar PV-project in Vietnam. Nordic Impact Cooperation will invest approximately USD 1.4 million, which in return gives ownership of 55% of the project. The remaining ownership is held by Norsk Solar with the intention of including another Nordic state-owned DFI as a shareholder. The project is already under construction with all supply and EPC contracts signed and initiated, and is expected to reach commercial operations in Q4, 2021. The project will generate over 300,000 MWh of clean electricity over the lifetime of the project; equivalent to offsetting more than 120,000 tonnes of CO2 emissions over the system lifetime.
Plus Xnergy Introduces First Rent-To-Own Solar Solution
Plus Xnergy Holding Sdn Bhd (“Plus Xnergy”) a Malaysian-founded leading clean energy solutionist today undergoes a rebranding exercise as part of its pivot to restructure and optimise its business to reinvent energy. The efforts resulted in the creation of Plus Xnergy as the main holding company, with Plus Xnergy Services Sdn Bhd (“PXS”) formerly known as “Plus Solar Systems Sdn Bhd” as its Engineering, procurement, construction and commissioning (EPCC) subsidiary and Plus Xnergy Edge Technologies Sdn Bhd (“PXET”) as its technology-focused subsidiary. In its first year, Plus Xnergy projects to outfit 2,000 houses with solar power, and up to 5,000 by its second year. This is aligned with the NEM 3.0 Rakyat program, which the government introduced early this year, to encourage the growth and adoption of solar solutions for consumers and households. The B2C efforts will also create more than five hundred microentrepreneurs in the process.
Solarvest Signs 50MW PPA With TNB
Clean energy specialist, Solarvest Holdings Berhad signed power purchase agreements (“PPA”) with Tenaga Nasional Berhad (“TNB”) for the sale of electricity from its three shortlisted large-scale solar (“LSS”) plants under the LSS@Mentari program. The signing of the contract officiates the 21-year solar electricity deal, whereby TNB will be the off-taker of the electricity generated by Solarvest’s LSS plants across two states with a cumulative capacity of 50 megawatts (MW). Among the three LSS plants, the largest solar farm has a capacity of 25MW which will be based in Manjung, Perak. This is followed by a 13MW solar farm to be constructed in Kuala Selangor and another 12MW solar farm in Manjung, Perak. Based on Solarvest’s healthy balance sheet, the development projects will be funded by a combination of funds raised from corporate exercise and external borrowings. Upon the signing of the PPA, the Group will work towards obtaining financing and the necessary approvals by the end of 2021. Construction activities for the solar plants are expected to commence in early 2022. The three plants are scheduled to begin commercial operation between 2022 and 2023.
AC Energy Net Income Climbs to ₱2.7 billion in 1H 2021
AC Energy disclosed that it achieved a consolidated net income of ₱2.7 billion for the first half of 2021, a 5 % increase from ₱2.6 billion of the previous year. This includes the results of operations of the international power assets that have been recently infused by parent AC Energy and Infrastructure Corporation (ACEIC) into ACEN. Consolidated revenues for the period rose 35 % to ₱13.4 billion. ACEN’s performance was driven by demand recovery from pre-Covid-19 pandemic levels, acquisition of operating projects, and newly operational renewable energy (RE) projects. However, the strong revenue growth was partially offset by increased costs of purchased power due to high WESM prices during thermal power outages.