Week In ASEAN: Partnership Between TNB And Trina Solar To Drive Progress In Clean Energy Solutions; ACEN Empowers Renewable Future: Invests P12.8 Billion In Subsidiaries For Green Energy Projects; And More

Partnership between TNB and Trina Solar to Drive Progress in Clean Energy Solutions

Tenaga Nasional Berhad, through its subsidiary GSPARX Sdn Bhd, continues to spearhead Malaysia’s sustainable energy evolution by forging a strategic partnership with Trina Solar, a global leader in PV and smart energy solutions. The formalized alliance, marked by a Memorandum of Understanding exchange between GSPARX’s Managing Director, Elmie Fairul Mashuri, and Trina Solar’s General Manager for Southeast Asia, Elva Wang, witnessed by the then Minister of Natural Resources, Environment & Climate Change, Nik Nazmi Nik Ahmad, signifies a pivotal move toward harnessing solar power solutions. This collaboration spans rooftop, floating, and ground-mounted systems.

ACEN Empowers Renewable Future: Invests P12.8 Billion In Subsidiaries For Green Energy Projects

Ayala-led ACEN Corp. is reinforcing its commitment to renewable energy (RE) projects by infusing additional capital into its subsidiaries. ACEN has entered into subscription contracts with its wholly-owned subsidiaries to subscribe to additional shares, thereby increasing the authorized capital stock of each special purpose vehicle (SPV). These subsidiaries, including Sinocalan Solar Power Corp. (SSPC), Santa Cruz Solar Energy Inc., SolarAce2 Energy Corp., Gigasol1, Inc., Giga Ace 8, Inc., and Giga Ace 6, Inc., have a combined investment commitment of P12.8 billion for various RE projects. In a specific agreement with SSPC, ACEN is subscribing to 70,800,387 Redeemable Preferred A Shares for a total subscription price of Php708,003,870. This capital injection will support the development and operation of a ~60 MWp solar power plant in San Manuel, Pangasinan.

RATCH Group’s Subsidiary Secures 25-Year Agreement For 27MW Solar Farms Project In Thailand

RATCH Group Public Company Limited disclosed a significant development. Solarist Thungfai Company Limited, an indirect subsidiary with a 51.67 per cent shareholding by RATCH Group, has successfully entered into a 25-year Power Purchase Agreement (PPA) with the Electricity Generating Authority of Thailand. The agreement marks the initiation of a solar farms project boasting a contracted capacity of 27 megawatts (MW), set to commence commercial operations in 2030. The project, designed to receive a favorable feed-in tariff (FiT) rate of THB 2.1679 per kilowatt-hour throughout its contractual term, aims to play a pivotal role in reducing fuel price volatility.

Gulf Energy Development Expands Renewable Energy Portfolio With 12 New Solar Projects In Thailand

Gulf Energy Development Public Company Limited has taken a significant stride in its renewable energy portfolio by announcing the execution of Power Purchase Agreements (PPAs) for an additional 12 solar projects in Thailand. The subsidiaries, held through Gulf Renewable Energy Company Limited, have inked 25-year PPAs with the Electricity Generating Authority of Thailand (EGAT). This development follows the Company’s prior notification on October 18, 2023, where it disclosed the execution of PPAs for 12 solar farms and solar farms with battery energy storage systems, boasting a total contracted capacity of 649.3 megawatts. The latest agreements on December 20, 2023, add another 644.8 megawatts to the Company’s renewable energy capacity.

Thailand’s Erawan Group And SCG Cleanergy Embrace Solar Power For Sustainable Hospitality Solutions

In a major stride towards sustainable energy practices in the hospitality sector, The Erawan Group, a prominent investor and developer of hotels in Thailand, the Philippines, and Japan, has joined forces with SCG Cleanergy Company Limited. The Memorandum of Understanding, signed by key representatives of both entities, aims to leverage SCG Cleanergy’s expertise in solar energy solutions to enhance energy management in hotels and resorts under “The Erawan Group.” Youssef El Khomri, President, and Woramon Inkatanuvat, Executive Vice President and Chief Financial Officer of The Erawan Group, formalized the collaboration with Attapong Sathitmanotham, CEO, and Apichet Nuytoom, Vice President of Operations, from SCG Cleanergy.

SPNEC Commences Work On World’s Largest Solar Project In Nueva Ecija And Bulacan

SP New Energy Corp. (SPNEC) has initiated preparations for the construction of Terra Solar Philippines, Inc.’s solar project in Nueva Ecija and Bulacan, marking the commencement of site clearing for the 3,500-hectare solar endeavor. Upon completion, this solar project, owned by SPNEC subsidiary Terra Solar, aims to become the world’s largest. The first phase, scheduled for completion in Q1 2026, involves accelerated site-clearing efforts, grid connections, and the installation of over five million solar panels. The project, estimated at P200 billion, plans to generate 3,500 megawatts of solar power and store 4,000 megawatt-hours using battery storage, contributing significantly to the Philippine grid.

ACEN’s Belenos Energy Secures YMP Telecom Power In Strategic Solar Acquisition

ACEN Corp.’s subsidiary, Belenos Energy Corp., has finalized an agreement to acquire shares in solar power providers for telecom towers and industrial facilities. The deal includes the full acquisition of YMP Telecom Power Inc. and its affiliate, YMP Industrial Power Inc. ACEN will purchase 100 per cent of outstanding shares from Yoma Micro Power (S) Pte. Ltd., with the acquisition price being less than 10 per cent of ACEN’s book value. The acquisition aims to develop and operate solar-powered solutions for telecom towers and commercial and industrial solar power solutions in the Philippines. ACEN will also provide up to P200 million in funding for YMP Telecom Power Inc.’s energy efficiency and renewable energy projects.

PT KAI Takes Green Stride With Solar Panels At 40 Stations And Workshops In Indonesia

The state railway company PT KAI launched solar panels at 40 stations and two railway workshops as part of its commitment to contribute to Indonesia’s environmental goals through the use of new and renewable energy. KAI’s President Director, Didiek Hartantyo, stated that the implementation of solar panels aligns with the government’s initiative to reduce greenhouse gases and achieve carbon neutrality by 2060. In 2023, KAI installed solar panels with a total capacity of 1,072.5 kWp in 40 stations, meeting nearly half of the buildings’ electricity needs. The solar panels also fulfil 39% of the two railway workshops’ electricity requirements. Key stations include Pasar Senen, Tanjung Priok, Jakarta Kota, Bogor, Yogyakarta, and Surabaya Gubeng, among others. Additionally, the solar panels contribute to KAI’s environmental, social, and governance (ESG) goals.

Sumitomo, ENEOS, And SEDC Energy Unite For Clean Hydrogen Supply Chain In Malaysia

Sumitomo Corporation, ENEOS Corporation, and SEDC Energy Sdn Bhd have officially inked a Joint Development Agreement for the establishment of a clean hydrogen supply chain in Malaysia. This collaborative effort aims to leverage renewable energy sources, particularly hydropower in Sarawak, to produce approximately 90,000 tons per year of clean hydrogen, with an additional 2,000 tons for local consumption in Sarawak. The process involves converting the produced hydrogen into MCH (methylcyclohexane), an efficient form of hydrogen transportation, for export to Japan. The project, encompassing Front End Engineering Design (FEED), is slated for commercial operation commencement by 2030.