Malaysia Renewables Growth Hindered By Unrealistic Targets And Absence Of Robust Policies, Says Report
Malaysia has set a target to achieve 31% of its total power generation from renewables by 2025 and 40% by 2035. Both objectives are highly unrealistic, as only 3.3% of electricity is generated through renewables at present. As per the current growth trend, Malaysia is expected to achieve only 5.5% of its power generation through renewables by 2025 and 6.6% by 2035, due to the absence of robust policy support, states GlobalData, a leading data, and analytics company.
Super Energy Corporation Starts Commercial Operation Of Solar Power Plant With Battery Project In Thailand
Super Energy Corporation Public Company Limited informs that the solar power plant with battery project of Super Solar Hybrid Co., Ltd. (SSH), a subsidiary of SUPER, has supplied commercial electricity to the Electricity Generating Authority of Thailand (EGAT) which has a power purchase agreement (PPA) of 16 MW. The plant is located in Han Sai Subdistrict, Mueang Aranyaprathet District, SraKeaw Province. Consequently, the SPP Hybrid project has received financial support from the Bank of Ayudhya Public Company Limited, and after the project has distributed electricity to the commercial operation.
SunRoof Raises €13.5 Million Growth Round Extension to Expand its Solar Roof Systems Across Europe and The US
After a first closing announced in September, solar power pioneer SunRoof is announcing a €13.5 million extension with new investment from a syndicate of leading European climate tech investors, including World Fund, Nordic Alpha Partners and L&G Capital. The extension takes SunRoof’s total growth round, led by Klima Energy Transition, the growth equity fund of Alantra, to €28.5m and will be used to drive its expansion plans across Europe and the US. SunRoof is a Swedish startup revolutionising the capture and use of renewable energy through its solar roof system.
Advancecon Holdings Proposes Private Placement To Raise Funds For Solar PV Project
Advancecon Holdings Bhd proposes to place a private placement of up to 20% of its total share base in order to raise RM21.85 million to finance the development of a solar PV project under the Large Scale Solar 4 @ MEnTARI programme. According to the Bursa Malaysia filing, the private placement will see the issuance of around 96.67 million shares to third-party investors. The issue price will be determined later. Advancecon had 483.37 million shares as of Jan 9, 2023. Advancecon has earmarked RM21.74 million for the development of the solar PV power generating facility under LSS4. The remaining RM110,000 will be used to cover the estimated costs of the proposed placement.
Tenaga Nasional Berhad Expresses Interest In Exploring Renewable Energy In Nusantara, Indonesia
Tenaga Nasional Berhad (TNB) through the Ministry of International Trade and Industry (MITI) Minister, Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz handed over a Letter of Intent (LOI) to the Chairman of the Nusantara Authority (Otorita Ibu Kota Nusantara (IKN). The LOI expressed TNB’s interest in exploring and participating in the development and operation of energy solutions in IKN Nusantara, Indonesia across various available technologies such as gas, solar, wind, hydro, and battery storage. TNB is also keen to explore any opportunity in the Grid interconnection business through collaboration with PT Perusahaan Listrik Negara (PLN) to develop a secure and reliable high-voltage transmission infrastructure in the Global City for All, IKN Nusantara.
ACEN Adds 300 MW Solar Capacity in Palauig Solar Farm Philippines
ACEN, the listed energy platform of the Ayala Group, boosts its renewable energy portfolio in its home country, the Philippines, with the start of construction of the 300 MW Palauig 2 Solar farm located in Zambales, an area with one of the country’s highest irradiance zones and solar energy potential. In proximity to ACEN’s operating 63 MW Palauig 1 Solar project, the cost of the new development, including the construction of the 1,200 MW transmission line, is estimated at ₱16 billion. 540 MWp high-efficiency solar panels will be supplied by module manufacturer, Seraphim.
Pertamina Supports The First Net Zero Industrial Cluster In Southeast Asia
Pertamina continues to carry out its commitment as the driving force of the energy transition in Indonesia. In collaboration with Jababeka, Pertamina presents an energy mix through the development and development of energy that is more environmentally friendly. This collaboration resulted in a Solar Power Plant (PLTS) with a capacity of 230 kWp which supports the electricity needs of the first Net Zero Industrial Cluster in Southeast Asia. Jababeka is also one of 12 Net Zero Industrial Clusters around the world. This step is a strategic collaboration between Pertamina and Jababeka to be active in efforts to create a clean energy ecosystem in Indonesia and the world.