Energy ministry tells bidders no extension for solar tender
Myanmar’s Ministry of Electricity and Energy has rejected requests from prospective bidders for a major solar farm tender to extend its one-month deadline, which they say is impossible to meet because of the COVID-19 crisis and tough conditions attached.
Indonesia to get $300 million ADB loan for geothermal electricity generation
The Asian Development Bank (ADB) has approved a US$300 million loan for state-owned geothermal energy company PT Geo Dipa Energi (GDE) to expand its geothermal power generation capacity. GDE will receive an additional $35 million loan from the Clean Technology Fund for the project managed also by the ADB, the bank announced on Thursday.
Cypark Resources buying Perak biogas plant for RM6m
KUALA LUMPUR (May 28): Cypark Resources Bhd said it is buying a 51% equity stake in biogas plant operator BAC Biogas (Kg Gajah) Sdn Bhd for a total consideration of RM6 million. In an exchange filing today, Cypark said its wholly-owned subsidiary Reviva Sdn Bhd had entered into an agreement to purchase 1.53 million ordinary shares in […]
OCBC Al-Amin eyes more green financing this year
PETALING JAYA: OCBC Al-Amin Bank Bhd is looking at bringing its value-based intermediation (VBI) to a new level with more “green” financing projects this year. VBI is an industry-driven sustainability initiative aimed at strengthening the roles of Islamic banking institutions in generating a positive and sustainable impact on the economy, community and environment.
Mitsui aims to dispose of its stake in Paiton Energy of Indonesia
Japanese trading house Mitsui is looking for buyers for its stake in Paiton Energy of Indonesia, according to published reports, in what could be a US$1 billion deal. Mitsui owns 45.5% of Paiton Energy, which was established in 1994, and owns and operates three coal-fired power plants at the Paiton Power Complex in East Java.
Petronas keen to buy 100 MW of Acme Solar’s Indian assets – report
May 27 (Renewables Now) – Malaysian oil and gas major Petroliam Nasional Bhd (Petronas) is holding talks to acquire 100 MW of photovoltaic (PV) assets from Indian solar developer Acme Solar, the Economic Times reports. Citing two sources in the know, the daily writes that the particular assets are located in Karnataka and are worth between […]
Singapore banks seen facing lingering default risk in oil sector
Singapore — Recent financial failures and scandals of Singapore’s commodities traders, triggered by the oil price crash this year, highlight a lingering loan-loss risk facing major banks in the city-state. At least four commodities traders in Singapore – Hin Leong Trading (Pte.) Ltd., Zenrock Commodities Trading Pte. Ltd., Hontop Energy (Singapore) Pte. Ltd. and Agritrade Interntional […]
PLN and SMI planning cooperation on geothermal project in Indonesia
State-owned utility PT PLN and PT SMI have announced having signed an MOU to work together to develop new renewable energy (EBT) projects, including geothermal clean energy. The signing by PT PLN (Persero) President Director Zulkifli Zaini and PT Sarana Multi Infrastructure (Persero) Managing Director Edwin Syahruzad took place in Jakarta on May 14, 2020.
