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Gurin Energy Approves Final Investment Decision for Capas Solar Power Project in the Philippines
Singapore-based renewable energy developer Gurin Energy has announced today the approval of a final investment decision (FID) by its board of directors for the Capas Solar Power Project in the Philippines. This greenfield initiative will transform into a solar farm boasting a peak capacity of 39 megawatts (MW), situated in the Municipality of Capas, Tarlac. The project has secured a 40-hectare site through a 25-year lease agreement with the Philippines’ Bases Conversion and Development Authority (BCDA). The FID marks a significant advancement for Gurin Energy’s footprint in the Philippines, where the company maintains a robust pipeline of projects totaling 1 gigawatt (GW). Among these projects is the ongoing construction of the 75MW Palauig Solar Power Plant in Zambales province.
ADB and Buskowitz Solar Inc. Sign $12 Million Deal to Boost Solar Energy in the Philippines
The Asian Development Bank (ADB) and Buskowitz Solar Inc., a subsidiary of Buskowitz Energy Inc., have inked a $12 million agreement to promote clean and affordable solar energy for commercial and industrial consumers in the Philippines. The project aims to generate 88 gigawatt-hours of clean electricity annually and reduce carbon dioxide emissions by 54,000 tons. The financing will facilitate the development, construction, and operation of multiple solar panel systems on the rooftops of commercial and industrial buildings across several provinces in the Philippines, including Bacolod, Bulacan, Laguna, Misamis Oriental, Pampanga, Pangasinan, and Zamboanga. This initiative will install a total of 70 megawatts of solar power generation capacity.
Sunview Group Berhad Secures USD 5.5 Million Financing For Solar PV Imports In Malaysia
Sunview Group Berhad, a prominent player in renewable energy, has announced the acceptance of banking facilities offered by Export-Import Bank of Malaysia Berhad to its subsidiary, Fabulous Sunview Sdn. Bhd. The facilities, totalling USD 5.5 million, aim to support the importation of solar photovoltaic modules and related equipment for ongoing and future contracts. The Islamic Financing Facility under Import Financing-i (IF-i) will finance general working capital requirements for importing solar PV modules and other equipment necessary for fulfilling contracts related to Fabulous Sunview’s business activities. The Forward Foreign Exchange-i (FX-i) facility is intended to hedge against foreign exchange rate fluctuations.
Meta Bright Group Berhad Enters Joint Venture With Doople Tech For Renewable Energy Projects In Malaysia
Meta Bright Group Berhad (MBGB), a prominent player in the Malaysian business landscape, has taken a significant step towards diversification by forging a strategic partnership in the renewable energy sector. Through its subsidiary, FBO Land (Serendah) Sdn Bhd (FBO Land), MBGB has entered into a subscription and joint venture agreement with Doople Tech Sdn Bhd (Doople). According to a recent filing with Bursa Malaysia, FBO Land is set to subscribe to 1,000,000 redeemable non-convertible preference shares (RNCPS) at an issue price of RM1.00 per RNCPS in a newly established joint venture company. The primary objective of this joint venture is to identify, invest in, and develop renewable energy (RE) projects, with a particular focus on initiatives involving Bumiputera participation.
ASEAN’s Decarbonization Could Save $800 Billion Through Regional Collaboration – Study
A groundbreaking study by DNV forecasts that embracing decarbonization across the Association of South East Asian Nations (ASEAN) could result in an astounding reduction of $800 billion in costs. The key lies in comprehensive regional collaboration, including power interconnectors, hydrogen networks, and energy storage infrastructure. The study, titled “ASEAN Interconnector Study: Taking a Regional Approach to Decarbonization,” released by DNV, meticulously assesses the benefits of a unified regional strategy towards decarbonizing the power sector. It addresses challenges while highlighting the advantages of efficient resource utilization and sharing.
PMM Renews Renewable Energy Deal With First Gen For Philippines Facility
Philippine Manufacturing Co. of Murata Inc. (PMM), a key player in the electronics industry, has reaffirmed its commitment to sustainability by renewing its agreement with First Gen Corporation for the supply of renewable electricity to its production facility. The move underscores PMM’s dedication to transitioning all its factories and offices worldwide to 100% renewable energy by 2050. During a signing ceremony to mark the renewal of their agreement, Francis Giles Puno, President and Chief Operating Officer of First Gen, emphasized the joint effort between the two companies in reducing emissions and shaping a future where environmental responsibility drives growth.
Taisei Corporation Partners With Rizal Green Energy Corporation To Advance Renewable Energy In The Philippines
RGEC, established by PetroGreen Energy Corporation (PGEC), is actively involved in the development of four solar photovoltaic (PV) power generation projects across the Philippines. These projects boast a combined capacity of 113 MW, comprising the Dagohoy Project (27 MW), San Jose Project (20 MW), Limbauan Project I+II (41 MW), and Bugallon Project (25 MW). Aligned with the Philippines’ vision for inclusive economic growth and sustainable energy, RGEC’s endeavors contribute to the nation’s goal of increasing the share of renewable energy in its power generation mix to 35% by 2030 and 50% by 2040.
Cypark Resources Berhad’s LSS3 Hybrid Solar Plant Achieves Initial Operations
Cypark Resources Berhad has announced the successful initiation of Initial Operations (IOD) for its 100MWac Large Scale Solar 3 (LSS3) hybrid solar plant project. This milestone marks a significant step towards the plant’s full Commercial Operations (COD) within the next two weeks. The hybrid solar plant comprises 83MWac of ground-mounted solar PVs and 32MWac of floating solar PVs, contributing to Malaysia’s clean energy goals while generating new revenue for stakeholders. Dato’ Ami Moris, Executive Chair of Cypark Resources, expressed pride in the company’s contribution to the Malaysian grid and highlighted the substantial transition undertaken over the past year to ensure the quality delivery of the project. With the Jakel Group as the new major shareholder providing capital and project management expertise, and a reconstituted board overseeing long-term sustainability, Cypark Resources is poised for success. |
