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Week In ASEAN: ACEN And CleanTech Finalize Cagayan Solar Farm JV; And More

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ACEN And CleanTech Finalize Cagayan Solar Farm JV

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ACEN, the listed energy platform of the Ayala Group, ACE Endevor, Inc. (“Endevor”), and CleanTech Renewable Energy 4 Corp. (“CleanTech”) have formed a joint venture company, Natures Renewable Energy Development Corporation (NAREDCO) to develop, own and operate a 133 MW solar farm and transmission line project located in Lal-lo, Cagayan. The companies recently signed a shareholders’ agreement for the strategic partnership, with ACEN and Endevor to have a combined 60% ownership stake in NAREDCO, and CleanTech owning the remaining 40%.

ib vogt And ACEN To Set Up 1,000 MW Asset Platform For Solar

ib vogt and ACEN have agreed to set up a platform to fund the construction and operation of large-scale solar power plants throughout Asia, subject to applicable regulatory approvals. The joint venture partners will focus on late-stage, shovel-ready projects in Indonesia, Vietnam, Malaysia, Laos, Bangladesh, and other countries in the region. The majority of projects will stem from ib vogt’s Asia development pipeline of more than 5,000 MW with initial projects planned to go into construction during 2022. The platform will also be open to acquiring late-stage projects from local and regional developers.

Also Read  Week In ASEAN: Sembcorp Opens Singapore’s First Solar Farm With An Integrated Rainwater Harvesting System; And More

ACEN And Citicore Energize Solar Plant In Pampanga

The Arayat-Mexico solar farm, a joint venture between Citicorp and ACEN, Ayala group’s listed energy platform, reached its full capacity last March 23, 2022, and is expected to add much-needed capacity to the grid in time for the demand surge during the hot summer season. After its successful energization, the National Grid Corporation of the Philippines (NGCP) will be conducting its own set of testing for grid compliance, which is expected to be completed by the second week of April. Once fully operational, the 72 MW solar farm will produce 105 GWh of renewable energy annually, enough to power 45,000 households while avoiding approximately 72,000 MT of CO2 emissions annually. The solar project has a potential expansion of up to 116 MW.

Pekat Group Bags RM38.3 Million Solar PV Contract From Sun Estates

Pekat Group Berhad secures an RM38.3 million contract from Sun Estates Sendirian Berhad for constructing a large-scale solar photovoltaic farm in Malaysia. Pekat Group Berhad is a solution provider specializing in the design, supply, distribution, and installation of the lightning protection system, earthing system, and surge protection system and its related technologies. The Company expanded and ventured into Photovoltaic (PV) Renewal Energy technology in 2006. Sun Estates also signed a 2-year agreement with Pekat for the maintenance of the solar farm. The project is anticipated to be commissioned in December 2023.

Also Read  GCAP Completes 3 MWp Solar PV Project For Muda Paper

GCAP Completes 3 MWp Solar PV Project For Muda Paper

G Capital Berhad (GCAP) completes the installation and starts the operation of 3 MWp solar photovoltaic for Muda Paper Converting Sdn Berhad (MPC), a subsidiary of Muda Holdings Bhd. Solarcity Malaysia Sdn Bhd holds a 70 percent stake in its subsidiary, GCAP. The agreement is for 25 years. Recently, Solarcity completed a 3 MWp solar project for Muda Paper Mills Sdn Bhd in February 2022. Muda Holdings Berhad is the pioneer in the paper milling and paper packaging industry in Malaysia. 

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