Reservoir Link Energy Expands Renewable Energy Portfolio With Acquisition Of SAG Renewables In Malaysia
Reservoir Link Energy Bhd, an energy-related services provider, announced that its wholly-owned subsidiary Reservoir Link Renewable Sdn Bhd has entered into a share sale agreement for the proposed acquisition of SAG Renewables Sdn Bhd (SAGR) from SAG Green Tech Sdn Bhd. Reservoir Link will acquire the entire equity stake in SAGR for a purchase consideration of RM10.5 million, comprising RM4.5 million for the Sale Shares and RM6.0 million for the corporate guarantee to be provided upon the successful transfer of the Sale Shares. The proposed acquisition will be funded through a combination of internally generated funds and bank borrowings.
Sembcorp Expands Renewable Portfolio in Vietnam with 245MW Acquisition
Sembcorp Industries, through its subsidiary Sembcorp Solar Vietnam Pte Ltd, has finalized an agreement to acquire majority stakes ranging from 73% to 100% in several subsidiaries of Gelex Group Joint Stock Company. This acquisition, subject to regulatory approvals, marks a significant step for Sembcorp’s expansion in the renewable energy sector. The transaction will bring in 245MW of operational renewable assets, including wind, solar, and hydropower, amplifying Sembcorp’s existing portfolio in Vietnam to over 450MW. Upon completion, the group’s gross renewable capacity will escalate to 12.2 GW, solidifying its position in the country’s renewable energy landscape.
LBS Bina Group Secures 28.67MW Solar Power Contract In Collaboration With CGPP Partners In Malaysia
LBS Bina Group Bhd has recently obtained a solar power contract with a capacity of 28.67 megawatts (MW) under the Corporate Green Power Programme (CGPP). This achievement resulted from a collaborative effort involving Setara Armada Sdn Bhd, MWG Power Sdn Bhd, and Ocean Solar Energy Sdn Bhd. This move aligns with LBS’ commitment to environmental, social, and governance (ESG) principles, highlighting the company’s dedication to fostering sustainable and environmentally responsible developments. Participation in the CGPP showcases LBS’ integration of eco-friendly practices into its core business operations, reinforcing its position as a responsible corporate entity and advancing its broader goal of entering the renewable energy sector.
Malaysia’s leading halal wholesale and retail chain, Mydin Mohamed Holdings Bhd, is championing sustainability in the retail sector by implementing carbon-neutral energy solutions. Managing director Datuk Ameer Ali Mydin anticipates savings of RM71.05 million over 30 years through this initiative in collaboration with NEFIN, an Asia Pacific renewable energy leader. The estimated savings result from generating 286.77 million kilowatt hours (kWh) of clean energy, equivalent to offsetting 199,002 tonnes of carbon dioxide (CO2) emissions over the system’s 30-year lifespan.
JLand Group And Cenergi SEA Form RM140 Million Joint Venture For Rooftop Solar Solutions In Johor’s Industrial Parks
JLand Group Sdn Bhd (JLG) and Cenergi SEA Bhd have established a joint venture (JV) with a total investment of RM140 million to implement rooftop solar and energy efficiency solutions within JLG’s industrial parks in Johor, spanning 4,479.50 hectares. The partnership, involving JLG as Johor Corporation’s real estate and infrastructure arm and Cenergi SEA as a subsidiary of UEM Group Bhd, will collaborate on investments, installations, operations, and maintenance of these sustainable solutions. The initial phase is projected to generate around 13,000 megawatt hours (MWh) of green electricity and reduce carbon emissions by 8,000 tonnes annually. This initiative aims to support tenants in achieving sustainable growth and fulfilling responsible business practices, aligning with the industrial sector’s goals.
Alfamart Explores Solar Energy For Nationwide Stores To Boost Sustainability Efforts
Alfamart, the Super Minimart chain under the SM Group, is exploring the utilization of solar energy for a portion of its 1,590 stores across the Philippines, following the recent installation of solar panels at the distribution center of Alfamart in Silang, Cavite. The initiative aims to reduce the dependence of the 30,000 square meter distribution center on the local power grid, simultaneously cutting power costs and minimizing carbon emissions. The project involved installing 117 solar panels, equivalent to 55,370 watts, on the roof deck. The firm aims to finish the project’s second phase, incorporating an extra 100,000 watts, before December 2023.
Asahi Kasei, Gentari, and JGC Collaborate for FEED Study on 60 MW Alkaline Water Electrolyzer, Generating Green Hydrogen in Malaysia
In a significant stride toward sustainable energy initiatives, Asahi Kasei, Gentari Hydrogen Sdn Bhd (a subsidiary of Gentari Sdn Bhd), and JGC Holdings Corporation announced the successful completion of an extensive feasibility study. The study aimed to facilitate the production of up to 8,000 tonnes per year of green hydrogen through a 60-megawatt (MW) alkaline water electrolyzer system. The collaborative effort also included the signing of a memorandum of understanding (MOU) for a front-end engineering design (FEED) study, underlining their commitment to this pioneering project. This endeavor receives support from Japan’s New Energy and Industrial Technology Development Organization (NEDO) through the Green Innovation Fund for Large-scale Alkaline Water Electrolysis System Development and Green Chemical Plant Project.
Canadian Solar Unveils Plans for 5 GW Solar Wafer Plant in Thailand
Canadian Solar has revealed plans to establish a cutting-edge 5 GW solar PV wafer production facility in Chonburi, Thailand. The state-of-the-art N-type wafer manufacturing plant is set to commence production in March 2024, initially supplying the existing Thailand TOPCon cell manufacturing plant. Starting in 2025, the wafers will be utilized as inputs for the fully operational 5 GW U.S. cell factory in Jeffersonville, Indiana.