Renewable fund to raise $2.5B for region’s recovery from pandemic
A RENEWABLE-ENERGY fund will invest more than $2.5 billion in Southeast Asian renewable energy projects to support the region’s recovery from the pandemic, with a focus on the Philippines, Vietnam and Indonesia.
DOE to draft auction terms for power reserves procurement
The Department of Energy (DOE) has created a technical working group (TWG) that shall guide it in the formulation of auction terms under the competitive selection process (CSP) for the procurement of ancillary services (AS) or reserves for the country’s power system.
Fluence ‘reveals’ 500+MW contracted portfolio in unnamed Southeast Asia territory
Fluence has announced that it has been contracted to deliver a large tranche of projects in Southeast Asia, but has agreed with its customer not to reveal yet which country they will be located in. The portfolio will apparently be more than 500MW of energy storage systems that will “rapidly come to life across an entire […]
DoE to firms: Invest in the Philippines
THE government is persuading companies to invest in the Philippines, with a Cabinet official emphasizing the country’s “favorable” investment climate and the economy’s good condition. “I invite all the investors who are here today to take a closer look at the Philippines, your gateway to the Asia-Pacific region,” Energy Secretary Alfonso Cusi said during the 5th […]
Energy spending sped up
Energy policymakers are accelerating budget spending worth 230 billion baht through development projects, hoping to inject huge investment into the staggering economy during the rest of the year. Deputy Prime Minister Somkid Jatusripitak, who met Energy Ministry officials on Thursday, said Thailand needs investment to stimulate the economy in the post-pandemic era, starting in the second […]
Energy ministry’s budget cut by a third to Rp 6.2 trillion
The Energy and Mineral Resources Ministry is cutting back on program funding after its annual budget was slashed by more than a third to Rp 6.2 trillion from Rp 9.7 trillion as the government diverts funds for COVID-19 containment. The largest cut is slated for oil and gas programs at 52 percent, lower than initially planned. This […]
Indonesia state power company PLN cuts capex by nearly half this year
JAKARTA: Indonesia’s state electricity company Perusahaan Listrik Negara (PLN) has slashed its capital expenditure by 46.4 per cent in 2020, its chief executive told parliament on Thursday. PLN’s capital expenditure fell to 53.59 trillion rupiah ($3.80 billion) from an initially budgeted 100 trillion rupiah, Zulkifli Zaini said, adding that some non-priority projects will be postponed.
Cleantech Solar and ING ink Asia Pacific’s largest green loan for commercial and industrial rooftop solar projects
Cleantech Solar, one of the largest commercial and industrial (C&I) focused solar PV developers in Asia, has secured a US$75 million green loan from ING Bank N.V., Singapore Branch (ING). ING was the sole Mandated Lead Arranger and Green Structuring Advisor. This is the largest green loan in Asia Pacific to date in the C&I […]
