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Week In ASEAN: KKR Launches Renewables Platform ‘Aster Renewable Energy’ To Develop Solar Projects In Taiwan And Vietnam; And More

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KKR Launches Renewables Platform ‘Aster Renewable Energy’ To Develop Solar Projects In Taiwan And Vietnam

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Global investment firm KKR announced the launch of Aster Renewable Energy (“Aster”), a newly created renewables platform to develop, build, and operate solar, wind and energy storage projects in Taiwan and Vietnam, with a view to expanding to other markets in Asia. Headquartered in Singapore, Aster looks to invest in high-quality renewable energy assets by leveraging the team’s leading development expertise. Aster will be led by CEO Chen Wei, an industry veteran with more than 20 years of experience managing and building renewable energy businesses across Asia. Mr Chen brings to Aster deep expertise and an extensive network, as well as significant experience leading a successful pan-Asia renewables platform. 

Reservoir Link With Sunseap Energy To Build 20MWp Capacity Of Solar PPAs In Malaysia

Reservoir Link Energy Bhd, an energy-related services provider, announced that its subsidiary Reservoir Link Renewable Sdn Bhd will be collaborating with Sunseap Energy (Malaysia) Sdn Bhd (“Sunseap”) to ink a term sheet for the a joint venture, with an initial paid-up share capital of RM1 million. The JV will co-develop, build, own and operate rooftop and ground-mounted solar PV projects (“Solar PPAs”) in Malaysia. Both parties will also use its best efforts to deliver approximately 20MWp worth of Solar PPAs to the JV by the end of 2023. Reservoir Link will hold a majority share capital of 51% while Sunseap will hold the remaining 49%.

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Pertamina NRE – Hyet Solar Agrees to Develop PV Foil in Indonesia

Pertamina Power Indonesia as Subholding Power & New Renewable Energy (Pertamina NRE) agreed to sign a cooperation agreement with Hyet Solar Netherlands BV (Hyet Solar) to develop photovoltaic (PV) foil manufacturing. The MoU signing ceremony was witnessed by the Indonesian Embassy to the Netherlands, which was attended by the Dutch Ambassador to Indonesia Mayerfas. The signing was carried out virtually by Dannif Danusaputro as Chief Executive Officer of Pertamina NRE and Rombout Swanborn as Chief Executive Officer of Hyet Solar. 

Vietnam and Germany are Jointly Promoting Rooftop Solar in Commercial and Industrial Sectors

As a tropical country, Vietnam has a great potential for solar energy, especially rooftop solar power, which is often dispersed and mostly consumed at the point of generation. The Government has encouraged the use of rooftop solar because its strategic deployment can contribute to reducing the load on the grid and impact land-use planning. By the end of September 2021, more than 100,000 rooftop solar systems were installed and operated with a total capacity of nearly 10 GW which accounts for more than 10% of the total installed capacity of Vietnam’s power system, according to Vietnam Electricity (EVN) reports.

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Department of National Defense of Philippines and KESCO Sign Agreement to Boost Solar Power Projects

In line with the vision of shifting to sustainable energy resources, the Department of National Defense (DND) of the Philippines and Korea Electrical Safety Corporation (KESCO) signed a Memorandum of Understanding (MOU) for Solar Power Projects at Camp General Emilio Aguinaldo, Quezon City. The MOU is for the development and implementation of solar panel projects in selected DND facilities throughout the country, including Camp General Macario Peralta Jr, Jamindan, Capiz in Central Visayas and Camp Kibaritan, Kalilangan, Bukidnon in Mindanao, as well as other defence facilities, with an initial rated capacity of 50 and 100 megawatts, respectively.

Dyna Drug Corporation Triples Energy Efficiency in 3 Months with Installation of FIMER’s PVS-30 Inverter

The rooftop PV installation comprising four units of FIMER’s PVS-30 three-phase string inverter solution was completed by Philippine GeoGreen, Inc., a leading local distributor of environmentally responsible solutions. Through harnessing solar energy, Dyna Drug will power its daily business operations sustainably. With the PV installation increasing energy efficiency by 300% within a span of three months, the company has since reduced its carbon emissions by 72,410 lb.

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