Category: News Asia

Prime Infra secures financing for 2 GW PSP portfolio in Philippines 

Prime Infra secures financing for 2 GW PSP portfolio in Philippines 

March 13, 2026 | , ,

Prime Infra has secured financing agreements worth approximately Php 273.47 billion to support the development of a pumped storage project (PSP) portfolio with a combined capacity of 2,000 MW. The financing package includes two separate agreements. One agreement involves project financing of about Php 214.87 billion arranged through a bank syndicate. Another agreement is a dual-currency equity standby letter of credit facility.

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ERA secures SGD50 million for Indonesia-Singapore clean power projects

ERA secures SGD50 million for Indonesia-Singapore clean power projects

March 12, 2026 | ,

Equator Renewables Asia (ERA) has secured SGD 50 million in investment to support the development of solar, green hydrogen and sustainable industrial zone projects in Indonesia. The financing includes SGD 30 million from two anchor investors, Indonesian agribusiness conglomerate KPN Corporation and Tsao Pao Chee (TPC). The remaining funds were contributed by ERA’s founder Frank Phuan and the company’s management team. 

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Jiangsu Guofu inks hydrogen supply agreement for data centre power project 

Jiangsu Guofu inks hydrogen supply agreement for data centre power project 

March 12, 2026 | , ,

China based Jiangsu Guofu Hydrogen Energy Equipment Company Limited has entered into a tripartite supply cooperation agreement with BTE and Hylium for the development of a 10 MW-class data centre power generation project in the North American market. Jiangsu Guofu Hydrogen Energy will undertake the design, manufacturing, and supply of a natural gas reforming hydrogen production package for the project. 

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Japan and New Zealand join forces to establish hydrogen corridor 

Japan and New Zealand join forces to establish hydrogen corridor 

March 11, 2026 | , ,

Mitsui O.S.K. Lines, Ltd., OBAYASHI CORPORATION, Kawasaki Heavy Industries Ltd., and Chiyoda Corporation have jointly established the Japan-New Zealand hydrogen corridor. The initiative will examine the feasibility of producing green hydrogen in New Zealand and exporting it to Japan. The consortium plans to begin the detailed studies in fiscal 2026 to develop a supply chain enabling hydrogen production in New Zealand.

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Bank of Baroda raises Rs 100 billion through green bonds in India 

Bank of Baroda raises Rs 100 billion through green bonds in India 

March 6, 2026 | ,

Bank of Baroda has raised Rs 100 billion through green infrastructure bonds to support long-term financing for renewable energy and sustainable infrastructure project in India. The Series I Long-Term Green Infrastructure Bonds received bids worth Rs 164.15 billion. The bids were more than three times the base issue size of Rs 50 billion. The bank had also provided a greenshoe option of an additional Rs 50 billion. 

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Vena Group commits KRW 1 trillion for South Korean renewables

Vena Group commits KRW 1 trillion for South Korean renewables

March 6, 2026 | ,

Vena Group has signed an MoU with Chungcheongnam-do and Taean-gun in South Korea to develop large-scale green energy projects in the province, with a particular focus on Taean-gun. The company plans to invest approximately KRW 1 trillion by 2030 to develop utility-scale renewable projects, including offshore wind projects. Once operational, the projects are expected to generate more than 1.6 TWh of electricity annually.

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IFC to support sustainable infrastructure development in Southeast Asia

IFC to support sustainable infrastructure development in Southeast Asia

February 27, 2026 | ,

The International Finance Corporation (IFC), part of the World Bank Group, has committed $25 million in equity to Seraya Partners Fund II, a private equity infrastructure fund managed by Seraya Partners. The fund is aimed at addressing infrastructure gaps across emerging markets in Southeast Asia. Key target markets include Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

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Waaree to set up 16 GWh battery gigafactory in India

Waaree to set up 16 GWh battery gigafactory in India

February 19, 2026 | , ,

Waaree Energy Storage Solution Limited (WESSL), a subsidiary of Waaree Energies Limited, will establish a 16 GWh lithium-ion battery gigafactory. The facility will cover cell manufacturing, battery packs, and large-scale battery energy storage systems (BESS). It will be situated at Rambilli in the Anakapalli district of Andhra Pradesh, India. WESSL will invest Rs 81.75 billion in the gigafactory.

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GULF secures financing for 939 MW renewable projects in Thailand

GULF secures financing for 939 MW renewable projects in Thailand

February 10, 2026 | , , ,

Gulf Development Public Company Limited (GULF) has secured loan facilities worth approximately $1.9 billion to support the development of 27 renewable projects in Thailand with a total generation capacity of 939 MW. The financing has been arranged through the company’s renewable energy and waste-to-energy subsidiaries. The portfolio comprises 15 solar and solar-plus-storage projects along with 12 waste-to-energy plants.

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J-POWER consortium acquires 797 MW hydropower plants in Philippines

J-POWER consortium acquires 797 MW hydropower plants in Philippines

February 9, 2026 | , ,

A consortium comprising Electric Power Development Co., Ltd. (J-POWER), Aboitiz Renewables, Inc., and Sumitomo Corporation have completed the acquisition of the CBK Hydroelectric power plants in the Philippines following their win in the privatisation bid conducted by the Power Sector Asset and Liabilities Management Corporation (PSALM). The plants have a combined installed capacity of 797 MW. 

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India announces results of 1.2 GW wind auction 

India announces results of 1.2 GW wind auction 

February 6, 2026 | , ,

The Solar Energy Corporation of India (SECI) has announced the winners of its 1,200 MW interstate transmission system (ISTS) connected wind power projects (Tranche-XIX) auction. In the auction, KP Energy secured a capacity of 100 MW at a tariff of Rs 3.67 per kWh. Furthermore, Waaree Forever Energies, Ganeko Three Energy, and Opera Energy secured 300 MW, 180 MW, and 50 MW, respectively, at a tariff of Rs 3.68 per kWh.

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Octopus Energy and PCG Power form JV in China 

Octopus Energy and PCG Power form JV in China 

February 4, 2026 | ,

Octopus Energy Group has announced a joint venture (JV) with PCG Power to trade renewable electricity in China. The JV will operate under the name Bitong Energy and will focus on trading green electricity in China’s spot power markets, where electricity is bought and sold in real time. The JV will begin operations in Guangdong province and will expand to other regions as additional markets open.

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Saudi Arabia and Türkiye ink renewable energy agreement

Saudi Arabia and Türkiye ink renewable energy agreement

February 2, 2026 | ,

Saudi Arabia and the Republic of Türkiye have entered into an intergovernmental agreement covering renewable energy projects. The agreement was executed by the Ministry of Energy of Saudi Arabia and the Ministry of Energy and Natural Resources of Türkiye. It provides for the development of solar projects in Türkiye with a total installed capacity of up to 5,000 MW, to be implemented in two phases.

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Voltalia bags 132 MW solar project in Tunisia

Voltalia bags 132 MW solar project in Tunisia

January 30, 2026 | , ,

Voltalia has been awarded a 132 MW solar project in the Gabès region of south-east Tunisia by the Tunisian government. Construction of the Wadi solar project is scheduled to begin in 2027, with commissioning planned for 2028. With the addition of the Wadi project, Voltalia’s total solar capacity in Tunisia that is planned to move into the construction phase has reached nearly 400 MW.

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World Bank approves financing for Dorjilung hydropower project in Bhutan

World Bank approves financing for Dorjilung hydropower project in Bhutan

January 27, 2026 | , ,

The World Bank Group has approved financing for the 1,125 MW Dorjilung hydropower project located on the Kurichhu river in eastern Bhutan.The approved financing package includes a $150 million grant and a $150 million credit from the International Development Association, a $15 million enclave loan from the International Bank for Reconstruction and Development to the Government of Bhutan.

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Juniper commissions 100 MWh merchant BESS in India 

Juniper commissions 100 MWh merchant BESS in India 

January 23, 2026 | , ,

Juniper Green Energy Limited (Juniper) has completely commissioned its 100 MWh merchant battery energy storage system (BESS) project in Bikaner, Rajasthan, through its subsidiary, Juniper Green Cosmic Private Limited. Of the total capacity, 60 MWh was commissioned earlier in December 2025. Trial operations have been completed, and approval has been secured from the Northern Regional Load Despatch Centre.

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Masdar and partners secure financial close for Ibri III project in Oman

Masdar and partners secure financial close for Ibri III project in Oman

January 19, 2026 | , ,

Masdar, together with Al Khadra Partners, Korea Midland Power Co. Ltd, and OQ Alternative Energy, has achieved financial close for the Ibri III solar independent power project. Financing has been secured from Natixis Corporate and Investment Banking and First Abu Dhabi Bank, covering a substantial portion of the project’s total cost of around $300 million. The project is being developed for Nama Power and Water Procurement.

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Levanta Renewables acquires ground mounted solar portfolio in Thailand

Levanta Renewables acquires ground mounted solar portfolio in Thailand

January 14, 2026 | , ,

Levanta Renewables has completed the acquisition of a fully operational 93 MWp ground-mounted solar portfolio in Thailand. The acquired portfolio comprises multiple solar plants located across eight provinces in Thailand. These projects are contracted under long-term power purchase agreements with the Provincial Electricity Authority and the Metropolitan Electricity Authority.

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Israel to develop solar-plus-storage project

Israel to develop solar-plus-storage project

December 30, 2025 | , , , ,

Israel’s Finance Ministry has announced that a new solar plant integrated with the battery energy storage system (BESS) will be developed at the Ashalim power station in southern Israel. The project is designed to deliver up to 80 MW of electricity to the national grid. It will include solar photovoltaic installations with a total capacity of 150 MW. Additionally, the project will incorporate a 400 MWh BESS.

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Vestas bags 390 MW wind turbine supply order in South Korea

Vestas bags 390 MW wind turbine supply order in South Korea

December 29, 2025 | , ,

Vestas has secured a 390 MW offshore wind turbine supply order for the Shinan-Ui offshore wind project located in Jeollanam Province, South Korea. The project is being developed by a consortium comprising Hanwha Ocean, SK Eternix, Korea Midland Power Co. Ltd., Future Energy Fund, and Hyundai Engineering & Construction. The order covers the delivery of 26 offshore wind turbines, each with a rated capacity of 15.0 MW.

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