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NEFIN Group Enters Singapore With A Goal To Invest SGD$100 Million In Next 5 Years
NEFIN Group, Asia’s leading green independent power producer (IPP), officially launched its brand-new APAC Headquarters in the heart of Singapore’s downtown precinct at MacDonald House in Dhoby Ghaut. Highly driven by the entrepreneurial spirit of Singapore, 8 August 2022 marked an important milestone for NEFIN since its inauguration in 2014. Adding to the glamour of the day, NEFIN signed a Memorandum of Understanding with Singapore’s top energy retailer, Tuas Power Supply (TPS), which is the first of many binding partnerships which NEFIN will enter with strategic partners in the remainder of 2022.
KPower Extends Its 50 MW Solar PPA With Tenaga Nasional Bhd For 4 Years
KPower Bhd has extended its power purchase agreement, with Tenaga Nasional Bhd, for a further four years. This extension relates to the development and operation of a 50-megawatt solar photovoltaic plant in Pekan. KPower stated that the Energy Commission informed the renewable energy group’s 95%-owned subsidiary, PKNP KPower Sdn Bhd about the extension of the PPA’s term to 25 years from 21 years. The EC also extended the closing date for the project, which was developed under the LSS4@MEnTARI programme, from June 30, 2022, until Sept 30, 2022, and the scheduled commercial date between Sept 30, 2023, and Dec 31, 2023. KPower stated that PKSSB would execute a supplemental agreement to TNB in order to implement the aforesaid terms. The company stated that KPower’s future earnings will be impacted by the extension of time.
Vietnam Needs An Investment Of Between $8 Billion To $14 Billion Per Year For New Power Plants Through 2030
According to Vietnam’s deputy industry minister, investment in Vietnam will be required between $8 billion to $14 billion per year up to 2030 for new power plants and expansion of its grid. According to a statement by Deputy Minister of Industry and Trade Dang Hoang An, 75% will be used for new power plants. Priority would go to renewable sources and 25% on grid expansion. Without giving any details, he stated that the country would seek private investment to finance the new power projects. Vietnam is a regional manufacturing center and must increase its power generation capacity by approximately 10% per year to support its rapidly-growing economy. Vietnam pledged last year that it would become carbon-neutral by 2050. It will increase its offshore wind capacity by 2030 to 7 gigawatts, and 65 GW by 2045. Meanwhile, it will reduce the amount of coal in its energy mix.
Actis Acquires Majority Stake In Southeast Asia Renewables Platform ‘Levanta Renewables’
Actis, a leading global investor in sustainable infrastructure, has signed an agreement to acquire a majority stake in Levanta Renewables, a leading Vietnam and Southeast Asia-focused renewables platform. Founded by Sudhir Nunes, who has significant experience in executing renewable power projects, Levanta has 300MW of onshore wind power projects in advanced development. With Vietnam as the anchor market, Actis will build on Levanta’s pipeline and apply its proven buy-and-build strategy to scale the business into a 1.5GW renewable platform across Southeast Asia, delivering power to a range of off-takers, including C&I customers.
MK Land Receives 4 Year Extension For Its 10.95 MW Solar PPA
MK Land Holdings Bhd has been granted a four-year extension by the Energy Commission (EC), to its power purchase arrangement for 10.95 MW Large Scale Solar Photovoltaic Plant in Kerian (Perak). Therefore, the PPA’s tenure will continue for 25 years after the extension. According to MK Land’s filing to the stock exchange, the EC allowed the LSSPV’s commercial operation date to be delayed one year to December 31, 2023. MK Land stated that related warranties and agreements will be extended to align with the 25-year effective PPA period. The group also stated that PPA’s supplementary agreement is expected to positively impact future earnings.
Engie Starts Commercial Operation Of Kerian Solar Power Plant In Malaysia
Engie, a French energy company, announced that it had begun commercial operations at the Kerian solar power plant in Malaysia. This is Engie’s first project of its kind in Southeast Asia. Engie stated in a statement that the project is located in Perak state and has a 100 megawatt (MW) capacity or 136.44 megawatts peak (MWp). Kerian Solar was named after the joint venture formed between ENGIE & TTL Energy Sdn Bhd. A 21-year power purchase arrangement (PPA) has been entered into with Malaysia’s state utilities company Tenaga Nasional Berhad. Engie stated. The project will help Engie reach its global goal of installing 50 gigawatts of renewable energy capacity by 2025. This was stated by Thierry Kalfon (managing director, ENGIE Renewables Australia and Southeast Asia).
TNB To Invest RM20 Billion Capex Per Annum In Driving Responsible Energy Transition Journey 2050
Tenaga Nasional Berhad (TNB) will invest around RM20 billion per year over the next 28 years as capital expenditure (CAPEX) for initiatives to fast-track TNB’s Energy Transition Plan that aspires to reduce its emissions intensity to net zero by 2050. “The investment will pave the way for TNB’s journey towards its net zero aspiration and will open opportunities in more than doubling its EBIT, ” said TNB President and Chief Executive Officer, Dato’ Indera Ir. Baharin Din. “This Responsible Energy Transition journey will bring positive business growth to the Group, even as we accelerate our efforts to decarbonise,” he said at TNB’s Energy Transition Plan 2050 Gallery Walk in Kuala Lumpur yesterday.
Cleantech Solar Commissions a 1 MW Rooftop Solar PV System for DENSO TEN in Rayong, Thailand
Cleantech Solar, a leading provider of renewable energy solutions to corporations in Southeast Asia and India, has commissioned a 1 MWp rooftop solar PV system for DENSO TEN at their manufacturing facility in Rayong, Thailand. The solar PV project has been delivered under a long-term Power Purchase Agreement (PPA) signed between Cleantech Solar and DENSO TEN (THAILAND) Limited, a subsidiary of DENSO TEN Limited, which is engaged in manufacturing automotive electronics and audio-visual components. This long-term partnership between Cleantech Solar and DENSO TEN in Thailand is expected to generate nearly 18 GWh of clean energy during the system’s lifetime, which amounts to offsetting over 10 kilotonnes of CO2 emissions. The solar PV system will help DENSO TEN harness the benefits of clean renewable energy, fulfilling their social responsibility targets, saving on energy costs and enabling a more sustainable supply chain.