Category: News Asia

ADB sanctions $240 million loan to fund rooftop solar systems in India

ADB sanctions $240 million loan to fund rooftop solar systems in India

July 18, 2024 | , ,

The Asian Development Bank (ADB) has sanctioned loans worth $240.5 million for financing rooftop solar systems in India. The funding will be allocated to State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) to provide loans to developers and end-users for the deployment of rooftop solar systems throughout India. SBI will be allocated $90.5 million from ADB’s Clean Technology Fund, while NABARD will receive $150 million.

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IREDA plans Rs. 2.9 billion investment in 900 MW Hydro Projects in Nepal

IREDA plans Rs. 2.9 billion investment in 900 MW Hydro Projects in Nepal

July 17, 2024 | , ,

Indian Renewable Energy Development Agency Limited (IREDA) has announced plans to invest  approximately Rs. 2.9 billion in a 900 MW hydroelectric power project in Nepal. With this investment IREDA will have up to 10 per cent stake in GMR Upper Karnali Hydro Power Limited and Karnali Transmission Company Pvt. Ltd., Nepal. The project is subject to approval from the Government of India and other regulatory authorities.

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ACWA Power divests 35 per cent stake in Bash and Dzhankeldy wind power plants in Uzbekistan

ACWA Power divests 35 per cent stake in Bash and Dzhankeldy wind power plants in Uzbekistan

July 17, 2024 | , ,

ACWA Power has concluded the sale of 35 per cent of its ownership in the ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company Limited to China Southern Power Grid International (HK) Co. Ltd (CSGIHK). This transaction marks the first co-investment between the two companies for a large-scale renewable energy project in Central Asia. 

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India issues guidelines for 450,000 MTPA of green hydrogen

India issues guidelines for 450,000 MTPA of green hydrogen

July 9, 2024 | , ,

The Ministry of New and Renewable Energy (MNRE) of India has released guidelines for disbursement of incentives for the production of up to 450,000 metric tonnes (MT) per year of green hydrogen as part of Component II (Mode 1, Tranche II) of the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme. The Solar Energy Corporation of India (SECI) has been assigned the responsibility of supervising the competitive bidding process and managing the implementation of the programme.

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Levanta Renewables enters Thai renewables market 

Levanta Renewables enters Thai renewables market 

July 8, 2024 | , ,

Levanta Renewables, a renewable energy developer and independent power producer owned by Actis, has acquired a 90 per cent controlling stake in a 139.4 MWp operational solar project portfolio in Thailand. Furthermore, these projects were purchased from Super Energy Corporation Public Co. Ltd. and its subsidiary, Super Energy Group Co. Ltd. 

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ACEN secures $150 million five-year syndicated green term loan 

ACEN secures $150 million five-year syndicated green term loan 

July 5, 2024 | ,

ACEN, through its subsidiary ACEN Renewables International Pte. Ltd., has secured a $150 million five-year syndicated green term loan and revolving credit facility. Additionally, this transaction was well-received by a consortium of international financial institutions. CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. served as structuring bank and arranger, respectively, forming a strategic partnership with five other banks: the Singapore branches of CTBC Bank Co., Malayan Banking Berhad, Chang Hwa Commercial Bank, Land Bank of Taiwan, and Mega International Commercial Bank.

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World Bank sanctions $1.5 billion to advance low carbon energy in India

World Bank sanctions $1.5 billion to advance low carbon energy in India

July 4, 2024 | ,

The World Bank has sanctioned $1.5 billion in funding to support India’s initiatives in advancing low-carbon energy development. As part of the second programmatic development policy operation for low-carbon energy, this initiative seeks to promote a strong market for green hydrogen, enhance renewable energy capacity, and encourage investments in low-carbon energy solutions.

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GreenRock and Solarvest to develop 1 GW clean energy in Taiwan, Malaysia

GreenRock and Solarvest to develop 1 GW clean energy in Taiwan, Malaysia

July 3, 2024 | ,

Solarvest is partnering with GreenRock Energy, Taiwanese renewable energy company for the development of renewable energy in both Taiwan and Malaysia. Both the companies plan to build 1 GW of renewable energy projects in the next five years by leveraging each other’s expertise to navigate the complexities of both the regions. In Taiwan, Solarvest is partnering with GreenRock Energy on large-scale agrivoltaic and aquavoltaic projects, aiming for a total capacity of 500 MW. 

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ACWA Power inks $533 million financing agreements for Tashkent Riverside Project in Uzbekistan

ACWA Power inks $533 million financing agreements for Tashkent Riverside Project in Uzbekistan

July 2, 2024 | , ,

ACWA Power has completed the dry financial close for the Tashkent Riverside project in Uzbekistan for a value of $533 million. This project includes a 200 MW solar photovoltaic facility and a 500 MWh battery energy storage system (BESS) to enhance the stability of Uzbekistan’s power grid. Six lenders have signed financing agreements, including EBRD, IsDB, DEG, Proparco, Standard Chartered, and KfW-IPEX Bank. The total debt financing amounts to $386 million.

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Hitachi Energy to invest $4.5 billion in clean energy

Hitachi Energy to invest $4.5 billion in clean energy

June 10, 2024 | ,

Hitachi Energy plans to invest $4.5 billion by 2027 to accelerate the clean energy transition. These investments will help the company to fulfill customer commitments and meet market demand by expanding its global R&D, engineering, and manufacturing capabilities for transformers, high-voltage direct current (HVDC), and high-voltage products. 

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Masdar inks agreements to develop renewable energy projects in Indonesia 

Masdar inks agreements to develop renewable energy projects in Indonesia 

May 28, 2024 | , , ,

Masdar has inked an agreement with Pertamina Power Indonesia to develop solar, wind and green hydrogen projects in Indonesia and globally. Additionally, the company has signed a joint development study agreement with PLN Nusantara Power to expand the Cirata Floating Solar PV project, aiming to triple its capacity to 500 MW from the initial 145 MW phase launched in 2023.

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Terrenus Energy secures SGD 300 million green loan by DBS in Singapore

Terrenus Energy secures SGD 300 million green loan by DBS in Singapore

May 23, 2024 | ,

Terrenus Energy has secured about 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, 57 government sites, and various commercial and industrial facilities. DBS acted as Financial Advisor and Mandated Lead Arranger for the loan, alongside Mizuho Bank, Ltd., Siemens Financial Services through Siemens Bank GmbH Singapore Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch, and China Construction Bank Corporation Singapore Branch.

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Stonepeak and CHC establish a BESS Platform in Japan

Stonepeak and CHC establish a BESS Platform in Japan

May 15, 2024 | , ,

Stonepeak and CHC have announced the creation of a platform focused on the development, construction, and operation of energy storage projects in Japan. The platform will focus on developing, constructing, and operating BESS projects to accelerate Japan’s power industry decarbonisation by leveraging Stonepeak’s investment experience in Japan’s renewable sector and CHC’s technical expertise. 

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EGAT and Gulf Energy to develop 25 solar farms in Thailand

EGAT and Gulf Energy to develop 25 solar farms in Thailand

May 8, 2024 | , ,

Gulf Energy Development Private Limited has finalised 25-year-long power purchase agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT) for the construction of 25 solar farms in the country. The planned solar farms will generate a combined capacity of 1,353 MW and are expected to offer a cost-effective solution compared to the current power tariff.

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SUSI Partners invests in utility-scale renewables projects in the Philippines

SUSI Partners invests in utility-scale renewables projects in the Philippines

April 8, 2024 | , ,

SUSI Partners has signed an investment agreement with experienced Southeast Asian developer Alba Renewables through the SUSI Asia Energy Transition Fund to support the development, construction, and operation of utility-scale ground-mounted solar PV and onshore wind projects in the Philippines. Through the purchase, SUSI will assist Alba’s broader growth objectives throughout Southeast Asia and contribute to the development of a regional utility-scale renewables platform with an emphasis on the Philippines.

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