ACWA Power Inks Agreement for Development of Indonesia’s Largest Green Hydrogen Project
During the 28th United Nations Climate Change Conference (COP28) in Dubai, Saudi-based ACWA Power, recognized as the world’s largest private water desalination company and a trailblazer in the energy transition, unveiled plans to embark on Indonesia’s most expansive green hydrogen venture. In collaboration with PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity provider, and PT Pupuk Indonesia, a state-owned chemical and fertilizer producer, ACWA Power CEO Marco Arcelli sealed the agreement. The initiative aims to establish Indonesia’s significant green hydrogen facility named Garuda Hidrogen Hijau (GH2) Project.
Pertamina International Shipping and KARPOWERSHIP Forge Pathbreaking Partnership for Sustainable Energy Infrastructure
Pertamina International Shipping (PIS) and KARPOWERSHIP proudly announced the formalization of a groundbreaking General Partnership Agreement (GPA) aimed at developing vital energy infrastructure in Indonesia. The partnership solidified during COP28 in Dubai, signifies a joint commitment to delivering cleaner and more accessible energy solutions on a global scale. The agreement, inked by PIS CEO Yoki Firnandi and Doğan Karadeniz, founding partner of KARPOWERSHIP, was witnessed by Nicke Widyawati, President Director of PT Pertamina (Persero), and Rabin Indrajad Hattari, the permanent secretary at the State-Owned Enterprises (SOE) Ministry of Indonesia.
Gurīn Energy Finalizes Funding for 75MW Solar Project in the Philippines
Singapore-based Gurīn Energy, a key player in renewable energy across Asia, has confirmed the financial close for its 75-megawatt (MW) solar farm situated in Palauig, Zambales Province, the Philippines. Spanning an expansive 80-hectare area, the farm will integrate approximately 136,363 ground-mounted, energy-efficient solar photovoltaic panels. The project’s groundwork commenced earlier in 2023, and groundbreaking is slated for later this month, with the anticipated commissioning by the third quarter of 2024. This initiative is projected to generate over 550 employment opportunities throughout its lifecycle.
Greenergy’s Winsun Green Ventures Joins Consortium For Solar-Powered Residential Community In Bacolod City, Philippines
A subsidiary of Greenergy Holdings Inc., Winsun Green Ventures, Inc. (WGVI), has formed a partnership with a consortium based in Cainta, Rizal, for a solar panel project geared towards creating a sustainable residential community in Bacolod City. Greenergy disclosed the memorandum of agreement with WRS Holding Inc. and Scheirman Construction Consolidated Inc. The collaboration involves designing the solar panel system and other eco-friendly components for a mixed-use integrated housing community in Bacolod City. Additionally, WGVI will support in marketing and selling the housing units of the project. The agreement remains effective until the termination of the joint venture agreement between the City of Bacolod and the developer.
Masdar And PLN Unveil Plans For Southeast Asia’s Largest Floating Solar Plant At COP28
Abu Dhabi Future Energy Company PJSC – Masdar, a global renewable energy leader, has solidified collaborative agreements with Indonesia’s state-owned utility, PLN, during COP28 in the UAE. Building on the success of their partnership, the companies have already launched Southeast Asia’s largest floating solar power plant, the 145 MW Cirata project in West Java. In the latest agreements, a framework is set for tripling Cirata’s capacity to 500 MW, and both entities will explore global renewable energy opportunities. The collaboration also includes the exploration of green hydrogen development, aligning with the UAE and Indonesia’s net-zero targets.
LANDBANK Approves ₱20-Billion Loan To ACEN For Philippines’ Renewable Energy Expansion
The Land Bank of the Philippines (LANDBANK) has greenlit a ₱20-billion loan for ACEN CORPORATION, the Ayala Group’s energy platform. This financial support aims to bolster the National Government’s initiative to diversify the country’s renewable energy sources. Aligned with the National Renewable Energy Program, the loan will aid ACEN in meeting the government’s goal of raising the share of renewable energy in the nation’s power generation mix from 22% to 35% by 2030. The agreement was formalized between LANDBANK President and CEO Lynette V. Ortiz and ACEN President and CEO Eric Francia on November 29, 2023. The partnership emphasizes LANDBANK’s commitment to fostering sustainable finance and environmental protection, contributing to the country’s climate change mitigation efforts.
B.Grimm Power Subsidiary Acquires Amatera Renewable Energy, Boosts Clean Energy Portfolio In The Philippines
B.Grimm Power’s subsidiary, B.Grimm Solar Power Inc. (BSP), has acquired 100% of the shares in Amatera Renewable Energy Corporation (ARECO), a Philippine-based company undertaking a 65-megawatt solar power plant project on Negros Island. The share purchase amounted to 5.4 million US Dollars. The project, expected to be operational in Q1 2025, holds long-term land rights and has received a Certificate of Confirmation of Commerciality from the Department of Energy of the Philippines. This strategic investment aligns with B.Grimm Power’s goal to expand its clean energy business, contribute to the ASEAN region’s growth, and enhance its renewable energy portfolio in line with global trends. The transaction is not considered a connected transaction, but it signifies B.Grimm Power’s commitment to sustainable business growth and strategic alignment with its overall energy strategy.
GreenYellow Vietnam And GFT Group (Hong Kong) Unite For 3MW Solar Rooftop Project
In a significant development, GreenYellow Vietnam and GFT Group (Hong Kong) sealed their collaboration with the signing of a Cooperation Contract. The ceremony, attended by senior leaders from both parties, marked the initiation of a project with a capacity exceeding 3MW for the first phase at the SDV factory in Ho Chi Minh City, part of the GFT Group’s manufacturing chain in Vietnam. With over 30 years of presence in Hong Kong, GFT Group stands as a major player with five factories in Vietnam, holding the position of the largest manufacturer of plastic and metal toys in the country. GreenYellow views this partnership as a strategic move, positioning itself as GFT Group’s energy ally in their joint pursuit of sustainable development.
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