Shizen Energy has reached financial close for a 29.99 MWac utility-scale solar project in Gurun, Kedah, Malaysia under the Corporate Green Power programme. The project company, SM 01 Sdn. Bhd., has entered into a power purchase agreement (PPA) with Google The project is scheduled to commence commercial operations in 2027. The project will provide Google with energy attributes generated from the solar plant.
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Vena Energy has reached the financial close for its Opus solar energy project in the Philippines. The financing involves participation from seven international financial institutions, including BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., Intesa Sanpaolo S.P.A., MUFG Bank Ltd., Standard Chartered Bank Limited, and Sumitomo Mitsui Banking Corporation.
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INTEC Energy Solutions has secured an engineering, procurement, and construction (EPC) contract for the 288 MWp Shafag (Jabrayil) solar project in Azerbaijan. The contract has been awarded by Shafag (Jabrayil) Solar Limited and covers the complete EPC scope. Additionally, the agreement includes operation and maintenance services for the first two years of the project’s operations. The total contract value is $117 million.
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Vena Energy has progressed its Indonesia–Singapore renewable energy project by signing a framework supply agreement with battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) for the project planned in the Riau Islands. Under the agreement, Vena Energy’s Indonesian subsidiary, PT Infrastruktur Terbarukan Sedaya, will procure CATL’s EnerX battery energy storage systems with a capacity of up to 4,000 MWh.
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Citicore Renewable Energy Corporation (CREC) has entered into a Php 3.975 billion project finance loan facility with the Bank of the Philippine Islands (BPI) to support the completion of the 113 MWp Citicore Solar Pangasinan 2 project in Binalonan, Pangasinan. BPI Capital Corporation acted as the sole lead arranger for this financing transaction. Furthermore, the has received a Certificate of Energy Project of National Significance.
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Renova has completed a project finance arrangement totalling 22.3 billion yen to support a portfolio of decentralised solar projects. The financing was executed through First Solar Power G.K., and will cover around 1,300 sites with a combined capacity of 170 MWdc. The financing package has been structured with Sumitomo Mitsui Trust Bank as the arranger, alongside The Bank of Fukuoka as joint arranger, and Resona Bank as co-arranger.
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The Ministry of Energy of Azerbaijan and Clean Energy Capital LLC, a subsidiary of Azerbaijan Green Energy Company LLC, have entered into an implementation agreement for an offshore wind project. The agreement covers the evaluation, planning, and execution of an offshore wind project in the Caspian Sea. The initial phase of the project will have a capacity of 200 MW, with the total planned capacity of the project being 600 MW.
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HydrogenPro ASA has agreed to acquire the remaining 25 per cent stake in HydrogenPro Tianjin from Tianjin Miaoqing Machinery Equipment Co., bringing its ownership from 75 per cent to full ownership. The transaction is valued at CNY 3 million in cash plus the equipment valued at about CNY 1.8 million. Completion of the transaction remains subject to the relevant approvals from Chinese authorities.
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Brookfield Asset Management has made its initial renewable energy investments in the Philippines, Vietnam and Thailand, establishing a new regional decarbonisation platform. The firm has acquired Alba Renewables, a clean energy developer with a 1.8 GW pipeline of wind, solar and battery energy storage system (BESS) projects concentrated mainly in the Philippines and Thailand.
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Bin Zayed International (BZI) and NOVA RE Suria (NRES) have formalised a partnership to develop the PGH2P green hydrogen project in Paka, Terengganu in Malaysia. It is planned as one of Malaysia’s early large-scale green hydrogen projects and will include a 200 MW alkaline electrolysers plant powered through renewable electricity from the grid. The plant is expected to generate nearly 30,000 tonnes of green hydrogen annually at full capacity.
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The World Bank Group, through the International Finance Corporation, together with the Johor State’s strategic investment arm Permodalan Darul Ta’zim (PDT), and Ditrolic Energy, have entered into a collaboration to develop the Southern Johor renewable energy corridor (SJERC). The initial phase is planned to include up to 4 GWp of solar capacity and 5.12 GWh of storage capacity on a 10,000 acre site.
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The Department of Energy (DOE) of the Government of the Philippines has issued the Notice of Auction and the Terms of Reference (ToR) for the fifth round of the Green Energy Auction (GEA-5). The auction marks the country’s first competitive process dedicated exclusively to fixed-bottom offshore wind projects. The round offers 3,300 MW to be delivered between 2028 and 2030.
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The Asian Development Bank (ADB) has approved a financing package worth $330 million for Pakistan under the Second Power Transmission Strengthening project. The project includes the construction of a 500 kV transmission line of about 290 km and the upgrading of key grid infrastructure supplying Islamabad and Faisalabad. The National Grid Company of Pakistan Limited (NGC) will be the executing agency for this project.
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South Korea has issued a competitive bidding call for onshore wind projects totalling around 230 MW for the second half of 2025. The Ministry of Climate, Energy and Environment announced that applications will be accepted through the Korea Energy Agency’s Renewable Energy Center. Bidding will remain open from November 17, 2025 to December 29, 2025, allowing 30 working days for submissions.
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The consortium consisting of TotalEnergies, Toyota Tsusho, and Altaaqa Renewable Energy has commenced commercial operations of its 112 MW solar project located in Wadi Ad-Dawasir, Saudi Arabia. The facility was constructed by SEPCO, a subsidiary of Power China, and achieved commissioning in July 2025. The generated power is being delivered to the Saudi Power Procurement Company under a power purchase agreement.
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Nama Power and Water Procurement Company (Nama PWP) has signed a 20-year power purchase agreement (PPA) with Sembcorp Utilities and OQ Alternative Energy (OQAE) to develop the 125 MW Dhofar II Wind Power Project in the Sultanate of Oman. The joint venture between Sembcorp and OQAE will build, own, and operate the project, which will supply electricity to Nama PWP once completed.
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Masdar has signed a battery storage service agreement with JSC Uzenergosotish to develop a standalone battery energy storage system (BESS) project in Uzbekistan. The 300 MW/600 MWh Zarafshan BESS project in Navoiy will be connected to the Murunau substation and forms the first phase of a broader national battery storage programme. The project is expected to be operational in the third quarter of 2028.
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The Department of Energy has announced the completion of the fourth round of the Green Energy Auction programme aimed at scaling up renewable energy deployment across the Philippines. Following the evaluation process, 123 bidders were awarded capacities across technologies including ground-mounted solar, roof-mounted solar, floating solar, integrated renewable energy with energy storage systems, and onshore wind.
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JA Solar has entered into a module supply agreement with Larsen & Toubro (L&T) for the Samarkand 1 and 2 solar power projects in Uzbekistan. Under the agreement, the company will provide all photovoltaic modules required for the two utility-scale projects. The projects are being developed by ACWA Power, with L&T serving as the engineering, procurement, and construction contractor.
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The European Bank for Reconstruction and Development (EBRD) has announced a financing package worth $142 million for two special-purpose vehicles (SPVs) developing a solar-plus-storage project in Uzbekistan. The project involves constructing 1,000 MW of solar photovoltaic capacity and 1,336 MWh of battery energy storage system (BESS) across two sites in the Samarkand and Bukhara regions.
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