SK Inc. and KKR have signed agreements to establish a renewable energy platform in South Korea. The platform will be valued at KRW 2 trillion (approximately $1.3 billion). The platform will manage 1.7 GW of operational renewable capacity and a development pipeline expected to expand total capacity to 10 GW. The platform will span solar, onshore wind, offshore wind, and fuel cells, while excluding hydrogen.
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The Asian Development Bank (ADB) has approved a $160 million loan to expand solar power generation in Bhutan through the deployment of at least 310 MW of new solar capacity. The project includes 120 MW Wobthang, 40 MW Pedseling, and 150 MW Dramthang solar farms. The initiative also includes 46 km of transmission infrastructure to connect the projects to the national grid.
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South Korea has awarded five offshore wind projects totaling 1.78 GW in its first-half 2026 offshore wind auction. The auction attracted bids for 3.65 GW across nine projects, and achieved a competition ratio exceeding 2:1. The selected portfolio includes more than 1.2 GW of fixed-bottom capacity, 532 MW of floating offshore wind, and a 160 MW public-led project.
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The Asian Development Bank (ADB) has approved a $63.44 million financing package to support the deployment of a 250 MW/500 MWh battery energy storage system (BESS) at Cambodia’s Takeo substation. The financing package comprises a $40 million concessional loan and a $5 million grant from ADB, alongside $18.44 million in co-financing from the Green Climate Fund and the UK through the ASEAN Catalytic Green Finance Facility.
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I Squared Capital and GS E&C have signed a memorandum of understanding to establish a joint venture (JV) focused on developing solar and battery energy storage projects in South Korea. The partnership aims to secure and develop 1.5 GW of renewable energy capacity by 2035, including approximately 820 MW of solar projects. The collaboration aligns with South Korea’s energy transition goals as it targets renewable energy sources to contribute at least 20 percent of total electricity generation by 2030.
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NOVVA Group has signed an agreement to acquire 100 per cent of the San Jose Solar Power Plant (SJSP) from Mabuhay Power Holdings Corporation. The project is located in Mindanao, Philippines. The plant has an installed capacity of 120 MWp. The agreement marks Novva’s first investment in the Philippines, anchoring its Al-era power platform in Southeast Asia.
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Pacifico Energy Korea has signed a memorandum of understanding (MoU) with Hana Bank and Hana Securities to explore financing solutions for the 3.2 GW Jindo Offshore Wind Project Cluster in South Korea. The MoU will involve the three parties collaborating on funding strategies covering the development, construction and operation phases of the offshore wind portfolio, while also developing a financing model for Korea’s offshore wind industry.
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Acwa Power Philippines has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) to develop a utility-scale solar and battery energy storage system (BESS) project in New Clark City. The project is expected to reach up to 500 MW of solar PV and battery storage capacity upon full development, subject to regulatory approvals and future expansion phases.
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Meta Platforms and CleanMax Enviro Energy Solutions Limited have joined forces for around 900 MW of renewable energy capacity in India. As part of the collaboration, the two companies will support the development of 837 MW of new solar and wind power projects in Rajasthan and Karnataka, India. CleanMax will develop and operate the new renewable energy projects, while Meta will purchase 100 per cent of the environmental attributes generated by them.
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Inox Clean Energy Limited, through its subsidiary Inox Neo, has signed an agreement to acquire 100 per cent of the equity interests in Vena Energy India. Vena Energy India, Vena Group’s Indian renewable energy platform, comprises around 1 GW of operational renewable capacity, along with 1.7 GW of solar and wind and 1.2 GWh of BESS advanced-stage projects. Additionally, it has a pipeline of 2.7 GW of solar and wind projects and 1.3 GWh of BESS projects.
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Levanta Renewables has achieved financial close and issued the notice to proceed for the Barotac solar and battery energy storage system (BESS) project located in the Visayas, Philippines. The project comprises a 166 MWp ground-mounted solar PV facility along with an 80 MWh BESS. The project was awarded a power purchase agreement under the Philippines’ Green Energy Auction Program Round 4.
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GCL System Integration (GCL SI) has signed an MoU with Getz Energy for the supply of up to 1 GW of solar modules over the next three years to support Thailand’s renewable energy expansion. Under the agreement, GCL SI will provide solar modules and battery energy storage systems for large-scale and hybrid solar projects. Solar module and BESS deliveries will be phased in line with project construction and grid connection schedules.
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Adani Green Energy Limited (AGEL) has commissioned a cumulative capacity of 3.37 GWh battery energy storage system (BESS) in Gujarat, India. The deployment includes the 1.37 GWh capacity commissioned in March 2026, taking AGEL’s total operational BESS capacity at the site to 3.37 GWh. Furthermore, the project was completed within 10 months of the commencement of construction.
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J&V Energy Technology Co., Ltd. has signed an agreement to acquire a portfolio of operational solar plants in Taiwan. The portfolio includes 42 operating solar plants located across Central and Southern Taiwan with a combined capacity of 187 MW. The portfolio will be acquired from a fund managed by BlackRock’s Global Infrastructure Partners. Furthermore, the plants are expected to generate around 270 million kWh of clean electricity annually which is sufficient to power nearly 80,000 households for more than 15 years.
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Vena Energy has commenced construction for the 80.6 MWp Astra Solar and 300 MWp Opus Solar projects located in Ilocos Norte, Philippines. These projects together will expand the company’s total solar capacity in Ilocos Norte to approximately 480 MWp. Groundbreaking ceremonies were held on 5th May 2026 for the Astra Solar project in Currimao and on 6th May 2026 for the Opus Solar project in Paoay.
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Asian Development Bank (ADB) has signed a $116 million financing package with ACWA Power to support the development, construction, operation, and transfer of a 300 MW wind power project in the Bukhara region, Uzbekistan. The financing includes a $50 million loan from ADB’s ordinary capital resources, $41 million from commercial lenders, and $25 million from the ADB’s Leading Asia’s Private Infrastructure Fund 2 (LEAP 2).
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AMPIN Energy Transition has commissioned approximately 500 MWp of inter-state transmission system-connected wind–solar hybrid capacity at Fatehgarh-IV substation in Rajasthan, India. The project consists of nearly 400 MWp of solar capacity, with about 100 MW of wind capacity to enable round-the-clock renewable energy supply. It is expected to generate approximately 1.25 billion units annually and avoid nearly 1.15 million tonnes of carbon dioxide emissions each year.
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TotalEnergies and Nextnorth have achieved financial close and begun construction of a 440 MWp solar project located in Isabela, Philippines. TotalEnergies owns 65 per cent of the project while Nextnorth has a 35 per cent stake in the project. The project is expected to commence operations by the end of 2027. The project is estimated to generate 13.5 TWh of electricity over a period of 20 years.
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HD Renewable Energy has partnered with Tokyo Gas Co to advance approximately 340 MW of battery energy storage (BESS) projects in Japan. The collaboration includes operational services and long-term offtake agreements across multiple projects. Around 149 MW of projects in Aomori Prefecture have been secured under Japan’s Long-Term Decarbonization Auction (LTDA) scheme.
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Levanta Renewables has announced the signing of an engineering, procurement, and construction (EPC) contract with the China Energy Engineering Group (CEEC) for the development of the Barotac solar and battery energy storage system (BESS) project in the Visayas, Philippines. The contract covers the full EPC scope for the project, which will integrate 166 MWp of solar capacity with an 80 MWh of BESS capacity.
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