Week In ASEAN: Samaiden Cambodia Signs MoU For RE Development Alongside Cambodia’s Royal Railway Tracks; Maxeon Eyes $900 Million Solar Energy Investment In The Philippines; And More

Samaiden Cambodia Signs MoU For Renewable Energy Development Alongside Cambodia’s Royal Railway Tracks

Samaiden Group Berhad, a renewable energy specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants is pleased to announce that its indirect wholly-owned subsidiary, Samaiden Energy (Cambodia) Co., Ltd., had signed a Memorandum of Understanding (MoU) with Royal Group Co., Ltd. (RGC), Management Venture Asia (Cambodia) Ltd. (MVA) and Panna Energy Sdn. Bhd. to develop the land alongside railway tracks operated by Royal Railway PLC for renewable energy and other sustainable economic activities.

Maxeon Eyes $900 Million Solar Energy Investment In The Philippines

Maxeon, a global leader in solar technology and innovation said it is eyeing to invest some $900 million in solar energy in the Philippines, in a move to expand its operations in the country. The announcement came after the officials of Maxeon met with President Ferdinand R. Marcos Jr. and his delegation in Washington DC. The President met with business leaders in a series of meetings at the Blair House on Tuesday afternoon in a bid to attract more investments to the country. Bill Mulligan, CEO of Maxeon which operates the SunPower brand in all global markets including the Maxeon brand in the United States, Canada and Japan, said the investment will provide more than 3,000 jobs in the next few years.

Hektar REIT To Install Solar Panels In Its Malls Across Malaysia

Johari Shukri Jamil, chief executive officer of Hektar Real Estate Investment Trust, said that Hektar Asset Management Sdn Bhd (Hektar REIT) will install solar panels in its shopping malls to reduce total energy costs. He said, “It’s important to address the electricity usage, as it makes up a large portion of our utility bills. It represents about 89% and we spent about RM19.3 billion on electricity alone last year.” Hektar REIT has 2 million square feet of retail space across four states with assets worth RM1.2 billion by Dec 31, 2022. The portfolio includes Mahkota Parade in Melaka, Subang Parade, in Selangor, Wetex Parade, and Classic Hotel in Muar, Johor, Kulim Central in Kedah, Central Square in Sungai Petani, Kedah, and Segamat Central in Johor.

Constant Energy Successfully Implements Phase II Solar Power Plant For ATAC

Constant Energy is pleased to announce that the new Phase II solar power plant of Aisin Thai Automotive Casting Co., Ltd. (ATAC) was successfully implemented. The successful energization of the Phase II solar power plant for Aisin Thai Automotive Casting Co., Ltd. is a significant milestone for the entire Constant Energy team. Our staff from Vietnam, Thailand, and Malaysia, are all celebrating this accomplishment, as it represents our long-term commitment to providing innovative and sustainable renewable energy solutions to our clients. The team at Constant Energy are proud to share that we have maintained a strong relationship with Aisin Thai Automotive Casting Co., Ltd. since Phase I. 

Cambodian Transmission II Completes Takeover Of 230kV Kampong Cham-Kratie Transmission System

Cambodian Transmission II Co., Ltd (CTL II) officially received the 230kV Kampong Cham – Kratie transmission system, following a successful operation takeover on 31 March 2023. The handover ceremony was attended by Mr Gan Boon Hean, Group CEO of Leader Energy, and Mr Charles Tan from Diamond Power Limited. It took over 6 months to complete the system. On 20 October 2022, Cambodian Transmission II Co., Ltd. (CTL-2), a wholly-owned subsidiary of Leader Energy, entered into a business transfer agreement with Diamond Power Ltd. (DPL), a 60% owned subsidiary of Pestech International Berhad, to acquire the 230kV Kampong Cham-Kratie Transmission System in Cambodia as a going concern business.

AmBank And Ideal Property Group Collaborate On A Sustainable Industrial Park In Penang

AmBank will be offering special financing packages to end-buyers of Penang Technology Park in Bertam. The sustainable industrial park, which is partly financed by AmBank, comes with solar energy specialist services for all factory buildings and incorporates a rainwater and wastewater management system in the 880-acre development. By supporting this sustainable industrial park and offering high Loan-to-Value (LTV) packages to end-buyers, AmBank aligns with its focus on environmental, social and governance (ESG) initiatives and demonstrates its commitment to promoting sustainable development and responsible investment practices.

ERC Releases Preliminary GEAR Prices For Round 2 Of The Auction

The Energy Regulatory Commission (ERC) released the Preliminary Green Energy Auction Reserve (GEAR) Prices for the Round 2 of the Green Energy Auction that will be conducted by the Department of Energy (DOE), for the following technologies:

Preliminary GEAR Price for Waste-to-Energy, on the other hand, will be posted at a later time prior to the commencement of the public consultations.