Week In ASEAN: BCPG To Forge Ahead in Solar Power Business; Solar Philippines Unit Eyes IPO; And More

BCPG To Forge Ahead in Solar Power Business In Taiwan

BCPG Public Company Limited, a leading renewable energy company in Thailand and Asia-Pacific, has announced the establishment of a new subsidiary “BCPG Formosa Co., Ltd.” (BCPG Formosa) to fully expand solar power business in Taiwan. The new subsidiary is also aligned with BCPG’s growth plan in extending 2-time production capacity in 5 years. According to Bundit Sapianchai, BCPG’s CEO, BCPG will acquire 100% equity in BCPG Formosa with an authorized capital of TWD 82 million. The company registration is expected to be complete within 2021. In the past, BCPG has been in the business of generating electricity from green energy along with creating economy and good quality of life for the community. The company is stepping into a Carbon Neutral in early 2022 and aims to be Net Zero Emissions Organization for the next 10 years, most recently BCPG is one of the founders of Carbon Markets Club, a carbon credit trading platform. To provide opportunities for all sectors with the same ideology in solving global warming to trade and exchange carbon credits voluntarily.

Solar Philippines Unit Eyes IPO for its Nueva Ecija Subsidiary

Solar Philippines Nueva Ecija Corporation (SPNEC) is aiming to use the proceeds of the planned public offering for the first 225 megawatts of a 500-MW solar power project. Solar Philippines is preparing for an initial public offering (IPO) for its Nueva Ecija subsidiary, the company announced. SPNEC is aiming to be listed under the supplemental listing and disclosure requirements for renewable energy companies, said the company release. These rules, according to Solar Philippines, allow development-stage project companies to list, subject to certain requirements such as having a valid and subsisting service contract awarded by the Department of Energy. SPNEC is aiming to raise “at least P1.3 billion” from the IPO. Leviste said the schedule of the offering will be disclosed when it is firmed up. The firm said SPNEC’s IPO proceeds will serve as equity for the construction of the first 225-megawatt portion of a 500-MW solar project in Pe˜ñaranda, Nueva Ecija. SPNEC will seek further financing to complete the rest of the 500-MW solar project.

Sungrow and Super Energy Work on the Largest BESS Project in Southeast Asia

Sungrow, the global leading inverter solution supplier for renewables, cooperated with Super Energy, the leading renewable energy provider in South East Asia to build Southeast Asia’s largest battery energy storage system (BESS) project. Sungrow will supply the comprehensive PV plus BESS solution, comprising 49.01 MW PV inverter solutions and 45 MW/136.24 MWh battery energy storage system. This project is planned to start in April 2022 and will be commercial in December. By then, it can provide clean electricity for Thai people with constant power, help improve the overall stability and security of the Thai power grid and quicken Thai’s step to realize the National 4.0 Strategy. Its completion also opens a new phase for Sungrow’s long-term strategic progress in the Solar and Energy Storage field in Southeast Asia.

Antaisolar Provides Solar Mounting System for 26 MW Solar Plant in Cambodia

Chinese solar racking supplier, Antaisolar has recently announced that a 26MW utility-scale solar power plant is scheduled to be connected to the grid at the end of the year in Cambodia. The solar plant is located in Bavet Municipality, a special economic zone in the Svay Rieng Province of the country. Antaisolar has provided the installation of the solar racking system (PV mounting system) for the solar power plant. The technical supporting team of the company came on the site to provide installation guidance for around three weeks, guaranteeing a smooth process of the entire work. The solar farm client commended Antaisolar’s service to match the special needs of grounding and bonding of the PV plant and quick response throughout the whole installation process.

B.Grimm Power Invests 2.8 Billion Baht to Acquire 375 MW Solar Power Plants in Malaysia

For renewable energy business expansion in Malaysia, B.Grimm has invested 2.8 billion baht to acquire 375 MW solar power plant from “reNIKOLA Holdings”. B.Grimm Power Malaysia Sdn. Bhd., a 100% owned subsidiary of B.Grimm Power, has entered into a Subscription Agreement with reNIKOLA Sdn. Bhd. and reNIKOLA Holdings Sdn. Bhd., or equivalent to 45% of total shares. B.Grimm Malaysia is also entitled to directly invest 3.5% of total shares in RE Gebeng BKH Sdn. Bhd. (a company which has been developing 375 MWdc solar power plant) with a total purchase price of MYR 367 million or approximately 2,888 million baht, said the company statement. Recently, B.Grimm Power plc has announced that the company has secured $28 million in a syndicated loan from Thailand’s top financers to undergird its solar energy project in Cambodia.