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Ministry of Industry & Trade of Vietnam To Finalize Electricity Master Plan VIII
The Ministry of Industry and Trade is finalizing the Electricity Master Plan VIII, collecting opinions from localities across the country to soon complete and submit to the Government in the first quarter of 2022. At the regular press conference of the Ministry of Industry and Trade on the afternoon of January 12, information about the completion of the Power Planning VIII, Mr. Bui Quoc Hung – Deputy Director of the Department of Electricity and Renewable Energy (Ministry of Industry and Trade) said, Draft Power Planning VIII has been completed by the Ministry of Industry and Trade and submitted to the Prime Minister for consideration and approval in Report No. 1682 dated March 26, 2021, and Report 6277 dated October 8, 2021. Draft electricity master plan VIII identifies priorities for efficient exploitation and use of renewable energy sources for electricity production regarding the fact that many localities, especially those with potential for wind and solar power, are currently proposing to add power projects, especially solar power projects, to the Power Plan VIII, Mr. Bui said. Quoc Hung added that, in recent times, Vietnam has developed a very large number of solar and wind power projects. While renewable energy still has some limitations because it is governed by time and weather, it should only be used at an appropriate rate, ensuring the connection between supply and demand and meeting the load demand.
SPNEC Plans to Develop 10 GW Capacity of Solar Projects
Solar Philippines Nueva Ecija Corporation (SPNEC) plans to develop 10 GW capacity of solar projects. This plan would increase the solar capacity of Philippines 10 times which in December 2020 was 1.021 GW. The plan would be enabled by asset-for-share swaps with Solar Philippines (its parent company) which is yet to be approved. SPNEC is developing a 500MWp solar power plant in Barangay Las Piñas, Sinasajan, and Peñaranda, Nueva Ecija. The location has good levels of irradiance and adequate available land, making it conducive to solar power generation. The Company plans to construct an additional 275MWp after commissioning the first phase. The developments are in the provinces of Batangas, Bulacan, Nueva Ecija, and Tarlac. The company will also offer stocks and form joint ventures. Solar Philippines plans to complete establishing joint ventures in 10 GW capacity of solar projects in 2022. SPNEC has see good trading results for its stocks on PSE with around Php 7 billion in trading in last month.
BGPS Forms Joint Venture Company for Production and Sale of Electricity Generated from Solar Rooftop
B.Grimm Power Service Limited (BGPS), a 100% owned subsidiary of B.Grimm Power, has established a joint venture company with SCG Cleanergy Company Limited (SCG Cleanergy), said the company release. The objectives of the cooperation are to produce and sell of electricity generated from solar rooftop power system to industrial customers in Amata City Chonburi and Amata City Rayong industrial estates in order to strengthen and enhance the capability for competitiveness insuch business of B.Grimm Power as well as to promote the use of clean energy in the industrial sector of Thailand in line with sustainable business practices. The new company would be called Cleanergy BGP Company Limited. The holding proportion would be 49% held by BGPS / 51% held by SCG Cleanergy.
Banpu PCL Acquires 50 MW Portfolio of 2 Solar Parks
Banpu PCL to purchase firm with a 50 MW portfolio of 2 solar parks worth 26.7 million USD in Vietnam. The solar parks are 15 MW Chu Ngoc, Gia Lai, and 35 MW Nhon Hai PV farm in Ninh Thuan. Banpu Public Company Limited is an international versatile energy provider with 3 core groups of businesses: energy resources, energy generation, and energy technology in 10 countries – Thailand, Indonesia, China, Australia, Lao PDR, Mongolia, Singapore, Japan, the United States of America and Vietnam. Both solar parks receive feed-in tariffs of 0.0935 USD/kWh and have 20 years of PPA with Vietnam Electricity. The Chu Ngoc solar park started the operation in June 2019 and the Nhon Hai PV farm started in July 2020. The assets will be acquired by BRE Singapore Pte Ltd which is a subsidiary of Banpu Next. Certain adjustments will be completed after June 2022. The deal was supposed to be finalized last year but was delayed.
Masdar and Mitrabara Forms Solar Radiance JV to Provide RE Solutions in Indonesia
Masdar, one of the world’s leading renewable energy companies, announced the formation of a joint venture (JV) with PT Mitrabara Adiperdana Tbk (Mitrabara), a conglomerate focused on the energy sector, to target the fast-growing commercial & industrial (C&I) segment of the renewable energy market in Indonesia. The JV, PT Masdar Mitra Solar Radiance, which will operate under the Solar Radiance brand, was formally launched at a ceremony on the sidelines of Abu Dhabi Sustainability Week (ADSW) 2022, held this week in the UAE capital. Angela Soedjana, Director of Baramulti Group, a shareholder of Mitrabara, attended the event, along with Hidefumi Kodama, General Manager, Coal and Energy Solution Department, Idemitsu, also a shareholder of Mitrabara, and Khoirudin, Chief Executive Officer of Mitrabara. Masdar was represented by Fawaz Al Muharrami, Acting Executive Director, Clean Energy.
Meralco Invite Bids For 850 ME RE Capacity
Meralco invites tender for 850 MW capacity of renewable energy. The power utility will deploy 600 MW capacity which will start operating in February 2026 and 250 MW capacity will start operating in February 2027. Manila Electric Company (Meralco) is the largest private-sector electric distribution utility company in the Philippines covering 36 cities and 75 municipalities. Its franchise area of over 9,685 km2 is just 3% of the total land area of the Philippines but accounts for 55% of the country’s electricity output. Meralco celebrates 118 years of service in 2021, committed to providing reliable and affordable energy. “Through its Third Party Bids and Awards Committee (TBPAC), Meralco invites interested parties to challenge the offer of Terra Solar, which proposed a P6.0800 per kilowatt-hour (kWh) headline rate and levelized cost of electricity (LCOE),” the company said.