Tuesday, June 25, 2024

Week In ASEAN: Over 1,984.775 MW Of Solar Energy Capacity Set To Surge In The Philippines; Beacon VC And SUN Group Close $3 Million Series A Funding Round For ION Energy; And Extra

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Representational picture. Credit: Canva

Powering the Future: Over 1,984.775 MW of Solar Energy Capacity Set to Go Up within the Philippines

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In a bid to strengthen the nation’s vitality infrastructure and guarantee grid stability, the Department of Energy (DOE) has unveiled plans for the introduction of 4,164.92 megawatts (MW) energy tasks this 12 months. Currently, 161.20 MW of those companies are totally operational, whereas one other 835.888 MW are present process testing and commissioning. Consisting of a mixture of renewable and traditional sources, these tasks include baseload, mid-merit, and peaking crops, with Luzon, Visayas, and Mindanao set to profit from the elevated capability. The rollout timeline reveals 1,224.655 MW to start operation within the 2nd quarter, adopted by 1,352.167 MW within the third quarter, and 1,571.154 MW within the 4th quarter.

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Beacon VC and SUN Group Close $3 Million Series A Funding Round for Thai Solar Startup ION Energy

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In a major step in the direction of the event of sustainable vitality options in Thailand, Beacon VC, the company enterprise capital arm of Kasikornbank, has partnered with Solar United Network Group (SUN Group) to finish a Series A funding spherical. of $3 million for ION Energy Company Limited ( ION), a pioneering photo voltaic vitality startup primarily based in Thailand. Mr Thanapong Na Ranong, Managing Director of Beacon VC, highlighted the significance of this funding as a milestone for the Beacon Impact Fund, highlighting ION Energy’s function as the primary Thai startup to obtain funding by the fund. The funding goals to strengthen ION’s capability to supply reasonably priced photo voltaic vitality options to a broad buyer base, together with residential customers and small-and-medium-sized enterprises (SMEs), with give attention to product improvement and repair enlargement.

Singapore-Indonesia Leaders’ Retreat Strengthens Bilateral Cooperation, Promotes Renewable Energy Partnership

Prime Minister Lee Hsien Loong of Singapore and President Joko Widodo of Indonesia gathered for the Singapore-Indonesia Leaders’ Retreat in Bogor, Indonesia, marking their seventh and last assembly as leaders. The annual retreat, a testomony to the enduring dedication to bilateral relations, resumed after a hiatus as a result of COVID-19 pandemic. The Leaders celebrated the latest implementation of agreements below the Expanded Framework, together with the Boundary Realignment Agreement, the Treaty for Extradition of Fugitives, and the Defense Cooperation Agreement, which handle long-standing points and promote the spirit of cooperation between in each nations. The two leaders reaffirmed their dedication to the implementation of those agreements in an orderly method.

Jiankun International Bhd Partners With Micro Energy For Solar PV Systems In Taman Panchor Jaya, Penang

Jiankun International Bhd has signed an MOU with Micro Energy Holdings (M) Sdn Bhd to put in a photo voltaic photovoltaic (PV) system at one in every of its residential developments, Taman Panchor Jaya, situated in Nibong Tebal, Penang. Taman Panchor Jaya is a double-storey landed residential improvement unfold over a 7.58-acre (3.07-hectare) tract, comprising 116 models with a gross improvement worth of RM72.69 million. The challenge is scheduled to be accomplished by July 2026. Under the MOU, the models will probably be outfitted with a minimal of two.2 kW of photo voltaic PV methods.

Shizen International and Majuperak Holdings Berhad Sign MoU for Solar Power Projects in Perak, Malaysia

In a major step in the direction of selling renewable vitality initiatives, Shizen International Inc., a subsidiary of Shizen Energy Group, has signed a memorandum of understanding (MoU) with Majuperak Holdings Berhad (MHB), a outstanding State Government- Linked Company (GLC) in Perak, Malaysia. The MoU outlines collaboration within the improvement of ground-mounted solar energy tasks and evaluation of potential websites for floating photo voltaic tasks inside Perak. The signing ceremony was officiated by key figures together with Syed Agil Syed Hashim, Group Chief Executive Officer of MHB, and Rei Ushikubo, Chief Executive Officer of Shizen International. Prominent witnesses included YAB Dato’ Seri Saarani bin Mohamad, Chief Minister of Perak, and Datuk Redza Rafiq Abdul Razak, Chief Executive of Perak State Development Corporation (PKNP) and Executive Chairman of MHB.

Exploring Renewable Energy Ventures: Lithuanian Delegation Seeks Opportunities In The Philippines

A delegation of revered Lithuanian enterprise leaders, led by Foreign Affairs Minister Gabrielius Landsbergis, launched into a journey to discover funding prospects throughout the rising Information Communications Technology (ICT) and renewable vitality sector within the Philippines. This enterprise was introduced by Department of Trade and Industry (DTI) Secretary Fred Pascual, which suggests a major step in the direction of the event of bilateral financial ties. The assembly, sponsored by the Management Association of the Philippines (MAP) International Relations Committee (IRC) and the MAP Trade, Investments, and Tourism Committee (TITC), occurred on the prestigious Shangri-La The Fort in Taguig City. In attendance have been vital Philippine enterprise figures and coverage makers, led by Secretary Pascual, along with the Lithuanian Ambassador to the Philippines, Ričardas Šlepavičius.

Indonesia And IEA Work Together To Accelerate Energy Transition: Joint Work Program Signed

Minister of Energy and Mineral Resources, Arifin Tasrif, just lately signed the Joint Work Program (JWP) 2024-2025 along with the Executive Director of the International Energy Agency (IEA), Fatih Birol. The program goals to speed up Indonesia’s vitality transition and obtain Net Zero Emission (NZE) targets. During his go to to the IEA Paris Office, Minister Arifin highlighted the long-standing cooperation between Indonesia and the IEA, since 2006 when Indonesia turned an affiliate member. The JWP 2024-2025 marks the sixth collaboration between the 2 events, specializing in accelerating Indonesia’s vitality transition and NZE objectives. In this newest JWP interval, the Ministry of Energy and Mineral Resources will prioritize cooperation in areas similar to correct vitality knowledge and statistics for coverage evaluation and improvement. This contains capability constructing initiatives to develop expertise within the vitality sector.

Sembcorp Makes Landmark Renewable Energy Deal with Equinix for Data Centers in Singapore

Sembcorp Industries (Sembcorp) introduced a major milestone as its subsidiary, Sembcorp Power Pte Ltd (Sembcorp Power), signed two long-term energy buy agreements (PPAs) with Equinix, Inc. subsidiaries for his or her knowledge heart operations in Singapore. Under these agreements, Sembcorp Power will present a most capability of 75MWp from its renewable vitality portfolio and 30MW from its energy era portfolio to Equinix for 18 years. This marks Equinix’s first renewable vitality PPA in Singapore, with provide from Sembcorp’s photo voltaic property. Sembcorp is presently the biggest photo voltaic vitality supplier in Singapore, with a portfolio of 727MWp.

IHH Healthcare Malaysia Leads Solar Power Revolution in Hospital Network

IHH Healthcare Malaysia has set a groundbreaking precedent within the nation’s healthcare sector with the launch of an bold renewable vitality initiative. Today, the famend healthcare supplier proudly reveals its dedication to sustainability by beginning to set up photo voltaic panels throughout its hospital community, marking a major step in the direction of lowering its carbon footprint. The inauguration ceremony witnessed the powering up of the photo voltaic panels on the Prince Court Medical Center, which was graced by the esteemed presence of Yang Amat Berhormat Dato’ Sri Haji Fadillah bin Haji Yusof, Deputy Prime Minister of Malaysia and Minister of Energy Transition and Water Transformation ( PETER).



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