Sembcorp Development Expands Portfolio with Three Vietnam Singapore Industrial Parks
Sembcorp Development, a subsidiary of Sembcorp Industries (Sembcorp), has announced the acquisition of three Vietnam Singapore Industrial Parks (VSIP) to its portfolio. The investment licenses for VSIP Thai Binh, VSIP Quang Ngai II, and Becamex-VSIP Binh Thuan were awarded to companies held by Vietnam Singapore Industrial Park Joint Venture Company (VSIP JV Co), a joint venture between Sembcorp and Vietnam state-owned enterprise, Becamex IDC Corporation. Sembcorp holds an effective stake ranging from 24.6% to 49.3% in these new projects. These new projects reinforce VSIP’s significant presence in the northern, central, and southern regions of Vietnam, each offering unique advantages for the manufacturing industry. With substantial government investment in infrastructure development to enhance accessibility and connectivity to global markets, these regions are attracting investments and trade from foreign enterprises.
Prime Infra Launches 64MW Solar Power Plant in Tanauan
Prime Infrastructure Capital Inc. (Prime Infra), through its wholly owned subsidiary Prime Solar Solutions Corp., inaugurated its 64-megawatt solar power plant in Tanauan, Batangas, on Friday. The event was attended by Department of Energy (DOE) Undersecretary Rowena Guevara, Prime Infra President and CEO Guillaume Lucci, Director Christian Gonzalez, Prime Solar Director Donato Almeda, President and CEO Atty. Cherry Mendoza, Batangas 3rd District Representative Cong. Ma. Theresa Collantes, Batangas Provincial Governor Hermilando “Dodo” Mandanas, Vice Governor Mark Leviste, and Tanauan City Mayor Sonny Collantes.
Philippines Secures $500 Million Investment Plan from Climate Investment Funds for Coal Transition
In a significant development towards combating climate change, the governing board of the Climate Investment Funds (CIF) has approved a groundbreaking investment plan presented by the Government of the Philippines. This plan, named the Accelerating Coal Transition (ACT) investment plan, will receive a substantial allocation of $500 million from CIF. The primary objective of the plan is to facilitate a just transition from coal to renewable power in the country, impacting over 70 developing nations. Under the ACT investment plan, the Philippines aims to expedite the retirement or repurposing of coal-fired plants, including the Mindanao plant, by leveraging CIF’s concessional resources. This initiative targets the acceleration of the retirement of up to 900 MW of existing coal generation capacity by 2027. Moreover, it emphasizes ensuring that 80% of affected employees gain access to sustainable income, ensuring a fair and equitable transition.
Power Shift: Southeast Asia Weighs Costly Gas Expansion Against Renewables Boom, Says Report
A recent report by Global Energy Monitor sheds light on Southeast Asia’s pivotal energy crossroads, where the region must weigh the costs of expanding gas infrastructure against the promising prospects of renewable energy. Titled “Southeast Asia’s Energy Crossroads: The Cost of Gas Expansion Versus the Promise of Renewables,” the report delves into the challenges and opportunities facing countries in the region as they chart their energy futures. With Southeast Asia experiencing rapid economic growth and urbanization, the demand for energy continues to escalate. Historically, the region has relied heavily on fossil fuels, particularly coal and natural gas, to meet its energy needs. However, concerns about climate change and air pollution are prompting a reevaluation of this dependence on fossil fuels.
Sembcorp to Develop First Utility-Scale Solar and Energy Storage Project in Indonesia
Sembcorp Industries (Sembcorp) has announced that its wholly-owned subsidiary, PT Sembcorp Renewables Indonesia, has formed a joint venture with PT PLN Nusantara Renewables, a subsidiary 99%-owned by PT PLN Nusantara Power. This collaboration aims to build and develop a significant integrated project in Nusantara, Indonesia, consisting of a 50MW solar power facility and a 14MWh battery energy storage system. The joint venture will see PT Sembcorp Renewables Indonesia holding a 49% stake, while PT PLN Nusantara Renewables will hold the remaining 51%. The project is set to supply power to the state-owned utility provider PT PLN (Persero) under a 25-year power purchase agreement (PPA). The initiative is expected to generate up to 93GWh of clean energy annually, serving the Nusantara region and East Kalimantan province. This is projected to offset over 100,000 tonnes of carbon emissions each year, which is comparable to removing approximately 20,000 cars from the roads annually.
UEM Lestra, Blueleaf Energy, and ITRAMAS Sign Agreement for 500 MW Hybrid Solar Power Plant Development
UEM Group Berhad (UEM Group), through its wholly-owned subsidiary and green industry arm, UEM Lestra Berhad (UEM Lestra), signed an agreement today to develop a 500-megawatt (MW) hybrid solar power plant in collaboration with Blueleaf Energy, a leading renewable energy platform, and ITRAMAS Corporation Sdn Bhd (ITRAMAS). This project marks the second development under UEM Lestra’s one-gigawatt (GW) hybrid solar power plant flagship venture, which is part of the National Energy Transition Roadmap (NETR) announced by the Malaysian Government in July 2023. UEM Lestra, alongside Blueleaf Energy—a Macquarie Asset Management portfolio company—and ITRAMAS, has progressed significantly in the one-gigawatt hybrid solar power plant initiative. Key developments include site identification, strategic offtake and commercialization partnership discussions, and technical project specifications. The consortium will collaborate with the government to finalize the third-party access (TPA) framework required for project execution.
B.Grimm Power And Siam City Cement Join Forces For Industrial Solar Project In Saraburi
B.Grimm Power, a leading Thai renewable energy company, has partnered with Siam City Cement (SCCC), a major cement producer, to establish a joint venture named “Insee B.Grimm Solar.” This collaboration aims to develop a solar rooftop project and a ground-mounted solar photovoltaic (PV) project within SCCC’s plant located in Saraburi province. The initiative highlights a significant step towards promoting the use of renewable energy in Thailand’s industrial sector. This project aligns with B.Grimm Power’s “Green Leap” strategy, which emphasizes fostering business cooperation to achieve sustainable growth and environmental responsibility. The partnership between B.Grimm Power and SCCC is expected to contribute to Thailand’s clean energy goals by reducing reliance on fossil fuels and integrating renewable energy sources into industrial operations. Specific details regarding the project’s capacity and timeline are not yet available.
Green Shift In The Philippines: Marcos Jr. Woos Investors For Renewable Energy Projects
President Ferdinand R. Marcos Jr. highlighted the Philippines’ investment appeal at the 6th Indo-Pacific Business Forum (IPBF) in Taguig City. He emphasized the government’s dedication to developing the Luzon Economic Corridor, promoting renewable energy (RE) ventures, and advancing digitalization efforts. In his address, President Marcos emphasized the significance of enhancing Luzon Island’s infrastructure to empower the workforce and facilitate efficient trade. He outlined key projects aimed at fostering growth in the Luzon Economic Corridor, linking Subic, Clark, and the CALABARZON region to bolster the Philippines’ position as a regional hub for agribusiness and logistics.
Singapore, Lao PDR, And Cambodia Forge Alliance To Boost Cross-Border Electricity Trade
In a landmark move towards bolstering regional energy cooperation, the Ministries of Trade and Industry of Singapore (MTI), Energy and Mines of Lao PDR (MEM), and Mines and Energy of Cambodia (MME) have joined forces to establish a working group. This group aims to facilitate cross-border electricity trade, with a focus on advancing the vision of the ASEAN Power Grid. The objectives of the workgroup are threefold. Firstly, it will lay down a comprehensive framework to facilitate the development of cross-border electricity trading projects within ASEAN, commencing with the collaboration between Lao PDR, Cambodia, and Singapore.
Black & Veatch To Lead Green Hydrogen Commercialization Strategy In Malaysia
Black & Veatch, a leading provider of critical infrastructure solutions worldwide, has been selected to analyze pathways for commercializing green hydrogen in line with Malaysia’s goals for low-carbon energy. Malaysia’s energy giants, Tenaga Nasional Berhad (TNB) and PETRONAS, have enlisted Black & Veatch for this study. “Securing dependable purchasers for green hydrogen is essential to ensure the economic feasibility of hydrogen initiatives. Given Malaysia’s abundant renewable resources like solar and hydropower, this feasibility study could shape the emergence of a hydrogen-based economy in Malaysia in the coming decade,” said Jerin Raj, Director for South & Southeast Asia and Taiwan at Black & Veatch.
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