UEM Group Berhad through its wholly-owned subsidiary and green industry arm, UEM Lestra Berhad (UEM Lestra) has inked an agreement with Blueleaf Energy and ITRAMAS Corporation Sdn Bhd (ITRAMAS) for the development of a 500 MW hybrid solar power plant in Malaysia. It is part of the larger 1 GW hybrid solar power plant flagship venture.
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ORIX Corporation has announced plans to construct the Maibara-Koto energy storage plant, with a rated output of 134 MW and a capacity of 548 MWh. The plant will be situated in the city of Maibara, Shiga. The construction will commence in November 2024 and operations in 2027. Furthermore, ORIX secured the project through a competitive decarbonisation energy auction from the Organisation for Cross-regional Coordination of Transmission Operators, Japan (OCCTO).
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SEG Solar, and Kawasan Industri Terpadu Batang (Grand Batang City) have finalised a Land Utilisation Agreement for the development and operation of a photovoltaic industrial park in the Batang Regency, Java, Indonesia. The park is anticipated to include factories for the production and assembly of silicon ingots, wafers, cells, and modules.
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ReNew, one of India’s leading renewable energy company, has signed a Memorandum of Understanding (MoU) with Societe Generale, which will support the former’s plans to expand its renewable energy portfolio in India and globally. This MoU includes USD 1 billion of financial support over the next three years. The financial support includes debt financing as well as advisory solutions.
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The Asian Development Bank (ADB) and Buskowitz Solar Incorporation, a subsidiary of Buskowitz Energy Incorporation, have finalised a $12 million deal to support solar energy for commercial and industrial consumers in the Philippines. The financing package includes a $12 million loan from ADB and a $24 million parallel loan from the Philippine National Bank.
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Citicore Renewable Energy Corporation (CREC) has secured a debt funding deal with Rizal Commercial Banking Corporation (RCBC) covering a portfolio of up to 1 GW DC of solar photovoltaic projects in the Philippines. The deal, totalling approximately PHP 20 billion in funding
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One of India’s major renewable energy producers, Adani Green Energy Limited (AGEL), has surpassed 10 GW of operational renewable energy installations. This large portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. Out of these total deployments, 2,848 MW of capacity was brought online in the Indian financial year 2023-24.
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India’s NTPC Limited held an auction to develop 3,000 MW firm and dispatchable renewable power (FDRE) from inter-state transmission system (ISTS) connected projects. The tender for the project was issued in October 2023. Prior to this, the Solar Energy Corporation of India held a similar auction for 1,500 MW of FDRE in which Rs 5.59 per kWh was the lowest discovered tariff. Last month, NHPC Limited conducted another auction for 1,500 of FDRE in which Rs 4.55 per kWh was the lowest discovered tariff.
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Mainstream Renewable Power, the global pure-play renewable energy company, has signed two wind energy service contracts (WESCs) with the Department of Energy (DOE) in the Philippines for the development rights for two onshore wind farms with a combined capacity of 440 MW. As per the company’s statement, the contracts represent Mainstream’s first fully-owned WESCs in the Philippines and it is one of the first 100 per cent foreign-owned companies to secure the contracts.
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BrightNight, a US-based company, has collaborated with ACEN, an Ayala Group affiliate for setting up a 1 GWac renewable power portfolio in the Philippines. This is the second such collaboration between BrightNight and ACEN and follows the one established in India in March 2023. The two companies had formed a 50-50 partnership for setting up 1.2 GW large-scale hybrid wind-solar and round-the-clock renewable power projects in India in 2023.
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Adani Green Energy Limited (AGEL), one of India’s largest renewable energy companies, has commissioned a total of 1 GW of solar capacity at Khavda in the state of Gujarat. This 1 GW project is the part of a larger 30 GW renewable energy park that is expected to be completed over the next five years and will be spread over 538 sq km of barren land.
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Hexicon AB has signed a sales and purchase agreement (SPA) to take full ownership of MunmuBaram Co., Ltd. from its joint venture partner Shell Overseas Investments B.V. Under the agreement, Hexicon AB will increase its stake in the project from 20 per cent to 100 per cent, increasing the project portfolio by 900 MW.
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The Indian Ministry of New and Renewable Energy (MNRE) has released an order dated February 15, 2024, stating that Approved List of Models and Manufacturers (ALMM) will be held in abeyance till further orders. The MNRE, in an order dated February 9, 2024, decided to reimpose the regulatory measure of ALMM for solar PV modules from April 1, 2024. Within a week, the government has taken a complete U-turn and this is likely to again impact domestic solar original equipment manufacturers.
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The Ministry of New and Renewable Energy (MNRE) has decided to reimpose the regulatory measure of Approved List of Models and Manufacturers (ALMM) for solar PV modules from April 1, 2024 in India. As per a new order by the ministry, the scope of the reintroduced ALMM will be limited. It will be applicable only to solar power projects sponsored or subsidised by the central or state governments.
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India-based ACME group has signed an offtake term sheet with Japan’s IHI Corporation to deliver green ammonia from Odisha to Japan. The agreement between IHI and ACME pertains to the long-term delivery of 0.4 million metric tonnes per annum (MMTPA) of green ammonia from phase-1 of the Odisha project in Gopalpur.
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The Indian Ministry of New and Renewable Energy (MNRE) has introduced a framework for incentive implementation to encourage the annual production of 200,000 metric tonnes (MT) of green hydrogen. The MNRE may determine any additional capacity for subsequent phases, if applicable. The incentives will be awarded for a duration of three years. It has further established the incentive implementation structure for generating and delivering green ammonia at the most economical rate through a competitive selection procedure within mode 2A of the SIGHT initiative.
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Cleantech Solar has entered into a captive power purchase agreement (PPA) with First Solar for a period of 15 years. As per the contract, First Solar will receive power from Cleantech Solar’s 150 MW and 16.8 MW of solar and wind assets in Tamil Nadu, India. This renewable power will be used to power First Solar’s recently established 3.3 GW vertically integrated solar manufacturing facility, situated in Tamil Nadu.
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Gentari, through its subsidiary Gentari International Renewables Pte Ltd has added offshore wind capacity into its portfolio, following an investment into the Hai Long offshore wind project located off the Changhua coast in the Taiwan Straits. Gentari has bought a 49 per cent stake in the project owned by Northland Power Inc.
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Gurīn Energy has announced plans to develop, build and operate a battery energy storage system (BESS) in Japan. The planned project is a 500 MW capacity, four-hour BESS that will be able to store up to 2 GWh of electricity, or enough electricity to charge 50,000 electric vehicles. The projected cost of development for the project is $600 million over a six-year period. Construction on the BESS is expected to begin in 2026.
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RWE Offshore Wind Japan Murakami-Tainai K.K. has been chosen in a consortium together with Mitsui & Co., Ltd. and Osaka Gas to provide a commercial-scale offshore wind project off the coast of the cities of Murakami and Tainai, Niigata Prefecture, Japan. The Japanese government has chosen the consortium to design, build, and manage a fixed-bottom offshore wind farm off Japan’s west coast.
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