French power company EDF Group (EPA:EDF) has signed a memorandum of understanding with Singapore government-owned utilities company SP Group to jointly develop a subsea transmission cable to enable renewable energy imports from Indonesia to Singapore.
Mukesh Ambani’s Reliance Industries (NSE:RELIANCE) acquired a Norwegian solar panel maker and an Indian builder of renewable projects in a bid by the oil-to-retail conglomerate to extend its dominance into alternative energy.
Indonesia has approved the subsea route for what could be the world’s first intercontinental power grid, connecting Australia to Singapore, with 24/7 renewable power. The official nod means Sun Cable’s ambitious project, that proposes the world’s largest solar farm, the world’s biggest battery, and the world's longest undersea cable, has moved a step closer to reality.
Solar power holds the key to meeting renewable energy targets for Indonesia, but the fast-growing Southeast Asian economy needs significant reforms to steer it away from an over-reliance on coal, according to a report.
Singapore’s Sunseap is planning a $2 billion floating solar project on a reservoir in Indonesia’s Batam Island. If successful it will be the world’s largest to date and electricity could be exported via undersea cable to the nearby island city state of Singapore.
TotalEnergie has finished building a second solar photovoltaic (PV) rooftop installation at one of Indonesia’s largest petrochemical facilities owned by Chandra Asri.
As national carbon-neutral targets come into focus, Asia Pacific solar photovoltaic (PV) capacity could triple by 2030 to 1500 gigawatts (GW), with Indonesia potentially the fastest expanding market by the end of the decade, according to new research from Wood Mackenzie.
Global Power Synergy, the listed power unit of Thailand’s national energy company PTT Group, has acquired a 41.6% stake in Indian renewable energy provider Avaada Energy for about 14.8 billion baht ($453 million).
Malaysia’s Petronas, which has yet to make a firm carbon-neutral pledge, will deploy solar energy at the group's assets across Malaysia to boost efficiency and cut carbon emissions as part of its sustainability agenda and “aspiration” of Net Zero Carbon Emissions by 2050 (NZCE 2050).
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Investments in Asia Pacific wind and solar power could double to $1.3 trillion over the current decade to 2030 compared with the period 2011-20, predicts Wood Mackenzie. However, in most Asian markets, subsidy-free renewable power will not be able to compete with coal power until 2025 or later, cautioned the energy research company.
Thailand's state-owned oil and gas group, PTT, will invest 20 billion baht ($635 million) in renewable energy in India, China and elsewhere in Asia, as it takes steps to shift from fossil fuels to cleaner energy sources.
Fitch Solutions believes that the Myanmar military government’s solar project push, the first attempt at stimulating foreign investment since the coup, will not succeed and will do little to turn the gloomy economic situation around.
South Korea will launch its largest-ever solar photovoltaic (PV) tender in July when it will offer 2 GW of capacity. An extra 2GW could also be offered later this year.
Australia’s Woodside is exploring the supply of 50 MW of solar energy to its Pluto liquefied natural gas (LNG) export facility on Western Australia’s Burrup Peninsular as part of its effort to reach net zero emissions.
China oil giant Sinopec has started operating its first petrol station where solar panels can fully meet its power needs, as the company pushes ahead in its quest to become a renewable powerhouse.
Japanese trading house Mitsui has chosen the Philippines for the company’s first mega solar project in Southeast Asia.
The UK and Indonesia have announced the creation of a new joint trade dialogue that will open green energy opportunities for UK companies in Southeast Asia’s largest economy.
Renewables now make up 37% of all power generation projects under construction in Asia, representing a 4% increase in share from the previous quarter, according to the latest IHS Markit Renewable Additions Index (RAI) for Asia Pacific. Although coal power projects remain strong despite climate pressure.
Law firm Allens has strengthened its market position in Vietnam with the appointment of Giles Cooper as a partner in the company's Hanoi office.
TNB Renewables, a subsidiary of Malaysian national electricity provider Tenaga Nasional Berhad (TNB), will buy a 39% share in five solar rooftop projects from Singapore’s Sunseap Group in Vietnam.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.