Terrenus Energy Secures SGD 300 Million Green Financing for Major Solar Project in Singapore
Terrenus Energy, a leading renewable energy solutions provider, has successfully secured approximately SGD 300 million in green financing from a consortium of five banks led by DBS. This green loan will fund the installation of photovoltaic panels on around 1,200 public housing blocks and 57 government sites, as well as on various commercial and industrial facilities. This initiative represents one of the largest renewable energy deployments in Singapore to date, significantly advancing the nation’s green ambitions. DBS served as the Financial Advisor and Mandated Lead Arranger for the loan, in collaboration with Mizuho Bank, Siemens Financial Services via Siemens Bank GmbH Singapore Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch, and China Construction Bank Corporation Singapore Branch.
UEM Group Berhad Partners with ITRAMAS and CMEC to Develop Renewable Energy Industrial Park in Johor
UEM Group Berhad, through its subsidiary UEM Sunrise Berhad, has joined hands with ITRAMAS Corporation Sdn Bhd and China Machinery Engineering Corporation (CMEC) to establish a Renewable Energy (RE) Industrial Park spanning 40 acres in Gerbang Nusajaya, Iskandar Puteri, Johor. This initiative is part of Malaysia’s National Energy Transition Roadmap (NETR) and aims to contribute to the country’s goal of generating 40% of its electricity from renewable sources by 2030. The agreement, signed by representatives from the partnering companies, outlines UEM Sunrise’s role as the investor and engineering provider, while ITRAMAS and CMEC will act as purchasers for the electricity generated by the projects. The RE Industrial Park, a key component of the one gigawatt (GW) hybrid solar power plant project, will attract manufacturers, suppliers, and industry players across the RE and Electric Vehicle (EV) value chains, as well as high-tech Research and Development (R&D) companies.
Sunview Group Expands Global Reach: Forges Renewable Energy Partnership with Uzbekistan’s Yashil Energiya
Sunview Group Bhd has announced a strategic partnership with Uzbekistan-based Yashil Energiya to explore renewable and green energy opportunities in Uzbekistan. The collaboration, facilitated through Sunview’s wholly-owned subsidiary Fabulous Sunview Sdn Bhd, aims to capitalize on Uzbekistan’s renewable energy targets and foster sustainable development in the region. Under the agreement, Fabulous Sunview will spearhead investment and provide engineering, procurement, construction, and commissioning services for renewable energy projects. Meanwhile, Yashil Energiya will serve as the purchaser of electricity generated from these projects, leveraging its expertise in the installation and maintenance of renewable energy sources in Uzbekistan.
Aboitiz Renewables Launches New Solar and Geothermal Projects, Adding Over 200 MW Capacity Amid Philippine Power Shortages
Aboitiz Renewables, Inc. (ARI), the renewable energy division of Aboitiz Power Corporation, recently announced the operational launch of the 159 megawatt peak (MWp) Laoag Solar Power Plant in Aguilar, Pangasinan. This development comes at a crucial time as the country has faced multiple yellow and red alerts due to the forced shutdowns of power plants and increased demand caused by high temperatures. Yellow alerts signal that power reserves are below the required margins for safe operations, while red alerts indicate that the power supply is insufficient to meet the demand.
ACEN Reports 34% Net Income Rise in Q1 2024 Driven by 49% Increase in Renewable Energy Output
ACEN, the listed energy platform of the Ayala group, has announced a 34 percent rise in its consolidated net income to Php2.7 billion for the first quarter of 2024. This growth is driven by a 49 percent increase in attributable renewable energy output. ACEN’s financial performance improved significantly due to the ramp-up of new solar and wind farms, particularly in the Philippines and Australia. Statutory revenues rose 8 percent year-on-year to Php9.9 billion, and core EBITDA grew 32 percent to Php5.3 billion. Despite lower wind output in Vietnam and North Luzon and reduced WESM prices in the Philippines, these gains were notable.
SP Group Inks Strategic Alliance with CMB Financial Leasing to Finance Renewable Energy Investments in China
SP Group (SP) has announced a strategic alliance with CMB Financial Leasing Co., Ltd., through its wholly-owned subsidiary, Shirui Energy Technology (Shanghai) Co., Ltd. This partnership aims to provide competitive financing services to support SP Group’s deployment of renewable energy solutions in China. The collaboration between SP and CMB Financial Leasing is projected to reach up to RMB ￥8 billion (approximately SGD $1.53 billion) over the next three years. The focus will be on SP’s target cities and projects, including utility-scale solar farms, distributed solar photovoltaic (PV) systems, energy storage, and district cooling and heating. Through this alliance, SP will benefit from CMB Financial Leasing’s diverse products, financial advisory services, and an efficient approval process that exceeds industry standards. This will enhance SP’s asset liquidity and optimize its asset structure.
juwi Shizen Energy Completes 121 MW Solar Power Plant in Hyogo Prefecture
juwi Shizen Energy Inc. has successfully completed the construction of a 121 MW (DC) solar power plant in Sanda City, Hyogo Prefecture, Japan. This facility will provide approximately 85 MW (AC) of renewable energy to a major utility company, marking it as one of the largest solar power plants in the Kansai region. The construction, which began in August 2021, took place on a former golf course spanning around 224 hectares. The project emphasized environmental and cost considerations, minimizing logging and land development. Advanced techniques, such as three-dimensional topographical data for pile mount design, were employed to maximize panel installation areas efficiently.
NEFIN Secures HKD $22.15 Million Green Loan from Bank SinoPac
NEFIN, a prominent developer of carbon neutral solutions, has successfully obtained a green project finance loan of HKD $22.15 million from Bank SinoPac’s Hong Kong Branch. The loan will support the development of environmentally sustainable projects. The initial tranche of the loan will be utilized for two NEFIN projects in Hong Kong SAR. These projects are in collaboration with a renowned international financial institution and a global leader in logistics. NEFIN anticipates further drawdowns later this year for the remainder of its Hong Kong SAR portfolio. This funding is expected to boost the returns on NEFIN’s financed projects and provide the capital needed for future business growth. It will also aid multinational corporations (MNCs) and major companies across the Asia-Pacific region in meeting their sustainability goals.
Philippines’ DOE and DOST Forge Partnership to Boost Renewable Energy Research
The Department of Energy (DOE) Philippines and the Department of Science and Technology (DOST) signed a Memorandum of Agreement (MOA) to promote collaboration in renewable energy (RE) research and development. This partnership aims to leverage the Renewable Energy Trust Fund (RETF) established under Section 28 of Republic Act No. 9513, also known as the Renewable Energy Act of 2008. The RETF is designated to finance research, development, demonstration, and promotion of RE systems for both power and non-power applications. The fund supports qualified R&D institutions and public-private partnerships, including fellowships for energy studies.
Cambodia Explores Renewable Energy Ventures With YIG Investment Delegation
Secretary-General Chea Vuthy, leading the Board of Investment of Cambodia, cordially received a delegation from YIG, led by Mr. Lu Xiaolong, Chair of the Board of Directors, in a pivotal meeting aimed at bolstering investment ties between the two nations. YIG, a prominent investment conglomerate with diverse interests spanning transportation, railways, infrastructure, finance, and renewable energy, showcased its commitment to Cambodia through its significant stake in the Siem Reap Angkor International Airport project. In his opening remarks, Secretary-General Vuthy warmly greeted the YIG delegation, commending their interest in exploring Cambodia’s investment landscape. He delineated the investment climate, pertinent laws, and burgeoning sectors, emphasizing the exponential growth of Chinese investment catalyzed by strategic partnerships.
