Category: News Asia

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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Sunview discusses $1 billion solar plant in Qashqadaryo with Uzbek Authorities

Sunview discusses $1 billion solar plant in Qashqadaryo with Uzbek Authorities

March 4, 2024 | , ,

Malaysia’s Sunview Group, a renewable energy firm, is currently engaged in discussions with Uzbekistan officials regarding the construction of a 500 MW solar PV facility in the Qashqadaryo region. Valued at $1 billion, the plant is set to be funded through foreign direct investments and is slated for completion within a year of the official agreement’s signing.

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Bekaert, Toshiba partner on PEM electrolyser technology

Bekaert, Toshiba partner on PEM electrolyser technology

February 29, 2024 | ,

Bekaert and Toshiba Energy Systems and Solutions Corporation, have entered into a global partnership which includes a strategic cooperation agreement, and a manufacturing technology licence for Membrane Electrode Assemblies (MEA), a key component for Proton Exchange Membrane (PEM) electrolyzers, that will help to accelerate the advance towards green hydrogen production.

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Aker bags FEED contract for 1 GW Haewoori Wind Project

Aker bags FEED contract for 1 GW Haewoori Wind Project

February 16, 2024 | , ,

Aker Solutions has been awarded a front-end engineering and design contract for Haewoori Offshore Wind 2 (500MW) and 3 (500MW), Copenhagen Infrastructure Partner’s floating offshore wind projects off the coast of Ulsan, Korea. The company will manage the design and delivery of the floating foundation structures required for the wind project and perform the front-end engineering design.

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Serbia secures $2.18 billion renewables investment commitment from China

Serbia secures $2.18 billion renewables investment commitment from China

January 30, 2024 | , , ,

China has committed to investing $2.18 billion in Serbia’s mining and energy ministry to support the development of renewable energy projects. On January 26, 2024, Serbian Zijin Copper, a subsidiary of Zijin Mining, and China’s Shanghai Fengling Renewable signed a memorandum of understanding. The agreement outlines plans for a 1.5 GW wind farm, a 500 MW solar plant, and a hydrogen production facility capable of producing 30,000 tonnes per year by 2028.

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