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  • Energy Economy

Sindicatum Blockchain Technologies launches renewable energy investment platform Reneum

16 November 2018

 – 

  • ASEAN

Paris, 12 November 2018.  Singapore-headquartered Sindicatum Blockchain Technologies today launched its Reneum platform at the Paris Peace Forum. Reneum’s aim is to mobilise additional investments in renewable energy of $100bn by 2030, when 60 per cent of the world’s energy use should come from renewable sources if we don’t want to all fry from climate change.

Reneum is the only project from Singapore, and one of only a handful of projects from the Association of Southeast Asian Nations (ASEAN) countries selected to be showcased at the Paris Peace Forum.

Sindicatum’s Reneum platform is open for business from today: It is fully operational and can be accessed via https://www.reneum.com/. It welcomes solar, wind or geothermal renewable energy projects of all sizes around the world, as well as selected other renewable energy projects. Projects can check their eligibility and sign up via our website.

Once projects are accepted on Reneum’s platform, they will be issued one Reneum token for each megawatt-hour of renewable energy that they produce. Renewable energy generators can sell Reneum tokens to buyers of renewable energy including corporations, governments, institutions and individuals and/ or, by June 2019, via selected crypto-currency exchanges.

Reneum tokens are designed to be sought after, in particular, by companies serious about being powered by renewable energy and with credible sustainability targets, e.g. under the RE 100 initiative or equivalent local and regional initiatives anywhere.

 Reneum is here for everyone’s better future

Our ambition is that all the world’s renewable energy projects— existing, planned or dreamt about—are able to realise their full true value and so outcompete fossil fuel.

At present, it’s the producers of clean energy that must prove that they’re doing good; meanwhile, the real costs of fossil fuels are left unchallenged. Reneum is out to give consumers the means to change that. Our disruptive approach reduces transaction costs and provides a new way forward for renewable energy, helping to build a thriving community of buyers and producers connected directly to one another: Our technology will help to build trust in renewable projects big and small, without the need for a central authority or intermediaries.

By establishing a truly reflective price signal, Reneum aims to help give renewable energy its real value—one that embodies the positive impacts that clean energy has upon the climate, human health, decentralised economic growth, job creation and social inclusion. 

What we do

We create new demand for renewable energy and offer a trusted way for everyone to buy it: Reneum offers a system of renewable energy credits, stand-alone and unbundled energy attribute certificates, built on the immutable record of the blockchain. It is the standardized product that the market needs—one with the integrity and transparency to build confidence among corporations, governments, institutions and individuals.

About Sindicatum Blockchain Technologies

Sindicatum Blockchain Technologies is an affiliate of Sindicatum Renewable Energy (SREC), the Singapore-headquartered growth-oriented renewable energy independent power producer.  SREC develops, owns, operates and acquires contracted clean power generation facilities in high-growth emerging markets in South and Southeast Asia and is currently building and operating 1,000 MW of renewable energy projects in India, Thailand, Indonesia and the Philippines. www.sindicatum.com.

About the Paris Peace Forum

The Paris Peace Forum is a new annual event based on a simple idea: international cooperation is key to tackling global challenges and ensuring durable peace. To support collective action, it gathers all actors of global governance under one roof for three days—states, international organisations, local governments, NGOs and foundations, companies, experts, journalists, trade unions, religious groups and citizens. Through original formats of debates and the presentation of solutions, it demonstrates there is still a momentum for multilateralism and a better organisation of the planet, both among states from North and South and civil society actors.

The original impetus for the Paris Peace Forum came from French President Emmanuel Macron. The Forum is organised by an NGO founded in 2018 by the Körber Foundation, the Mo Ibrahim Foundation, the Institut français des relations internationales, the Institut Montaigne, Sciences Po and the French Ministry for European and Foreign Affairs.

https://parispeaceforum.org/about/

Contact

CEO and Interim CTO: [email protected]

SVP Partnerships: [email protected]

80 Anson Rd, #28-02, Fuji Xerox Towers, Singapore 079907

www.reneum.com

  • Oil & Gas

Malaysian oil and gas products, services tap into Middle East market

16 November 2018

 – 

  • Malaysia

This year is MATRADE’s fifth participation in the annual oil and gas exhibition.

MATRADE has continued to create greater awareness and visibility on Malaysia’s capabilities and expertise in providing world class oil and gas products and services through participation in Adipec 2018.

This year is MATRADE’s fifth participation in the annual oil and gas exhibition in Middle East, which runs from November 12 to 15.

Among the local expertise to be featured include radiation management and consultancy services to the oil and gas, and mineral processing industries, specialist engineering of well integrity & rehabilitation, fabricate DNV offshore container/portable offshore unit intended for oil and gas industry, design and manufacture of Waste Heat Recovery Unit (WHRU), oil & gas upstream exploration & production consultancy services, manufacturing of Perlite Insulation Material and ICT Solutions for oil & gas Health Safety Environment (HSE), Human Resource (HR) and Operation requirements.

Others are manufacturer, stockists and trader of pipes, fittings, flanges, valves, and other components, installation, commissioning, calibration and maintenance and trading of engineering work and equipment.

Three of the seven emirates have launched licensing rounds in 2018, offering discovered and prospective oil and gas resources as reported by Fitch Solutions. These prospects for exploration are improving markedly, as the emirates look to garner increased foreign and private participation in the sector. The Abu Dhabi National Oil Company (Adnoc) will significantly expand its refining and petrochemical operations at Ruwais and undertake highly targeted overseas investments to secure greater market access. Furthermore, the rise of potential oil & gas industry in Africa region will offer additional opportunities to the oil and gas industry.

Africa continues to show substantial growth with new hydrocarbon provinces developing at a significant pace. MATRADE, as Malaysia’s trade promotion agency, has identified numerous exports opportunities for Malaysian companies through these forecasts.

According to Mr. Wan Azhamuddin Jusoh, Deputy Director of Oil and Gas, Chemical and Energy Section at MATRADE, Adipec is expected to continue the promising sentiment built since last year. “Opportunities in the sector are expected to grow and for that, Malaysian companies are encouraged to actively engaged in the market,” he said.

In 2017, the total exports of oil and gas products to UAE were valued at $58.7 million and accounted for a share of 2.1 per cent of total exports worldwide. Last year’s main exports of oil and gas products from Malaysia were light petroleum distillates, petroleum spirit for motor vehicles and oils and other products of distillation of high temp coal tar.

  • Coal , 
  • Renewables

Renewables edging out coal in South-East Asia

16 November 2018

 – 

  • Indonesia , 
  • Philippines , 
  • Vietnam

[MANILA] Within a decade, Indonesia, the Philippines and Vietnam will find it cheaper to create new solar cell capacity than keep existing coal-fired power plants running to generate electricity, says a new report.

Power generation from renewable sources is crucial to meeting the key goal of the 2015 Paris Agreement to maintain global average temperature rise well below 2 degrees Celsius by reducing carbon emissions, mostly from burning coal and other fossil fuels.

Released last month (29 October) by Carbon Tracker, an independent London-based think tank, the report also predicts that by 2029, running Vietnam’s existing coal-fired power plants would be costlier than building onshore wind power capacity.

“Renewable indeed is a new challenge, but it could also be an opportunity for them to develop new generating capacity”

Agus Sari, Landscape Indonesia

Matthew Gray, author of the report and head of power and utilities at Carbon Tracker, tells SciDev.Net that he focused on the three South-East Asian countries to produce a “scenario analysis based on the Paris Agreement”.

If these three signatories to the agreement are to help limit temperature increase, they will need to phase out coal. However, according to the report, this means that coal power plant operators in these countries collectively risk losing up to US$60 billion in “stranded value”, a concept introduced by Carbon Tracker.

Stranded assets revolve around the idea that fossil fuel supply and generation resources, at some point before the end of their economic life, are no longer able to earn (e.g. lower demand scenario) as a result of changes associated with the transition to a low-carbon economy.

An average coal unit in the three countries will be retired in just 15 years, instead of the 40 years it is estimated to last. Indonesia alone has stranded assets worth US$35 billion that are at risk, the report says.

  • Electricity/Power Grid

How Singapore’s dynamic digital comparison platform Voltz is set to transform the electricity market

16 November 2018

 – 

  • Singapore

Its real-time electricity pricings offer complete transparency, and ultimately, more savings for consumers.

An essential player in the launch of the Open Electricity Market (OEM) this month is Voltz Energy (Voltz).

Its online price comparison platform allows consumers and electricity retailers to make informed choices and bid — using real-time data.

Even before the full liberalisation of the electricity market, Voltz has already gained considerable traction in the commercial sector. Businesses, from small and medium-sized enterprises to manufacturing industries and international schools, have utilised Voltz’s platform to receive the best rates through a real-time reverse auction.

Designed to establish greater value across the electricity retail value chain, Voltz’s reverse auction feature encourages open competition among retailers as they bid for consumer electricity accounts.

This simplifies and reduces the costs of acquisition for retailers and translates to even greater cost savings for consumers.

To amplify its real-time reverse auction capabilities, Voltz has rolled out the residential group auction feature — an industry first.

Here are three ways that Voltz can make transactions simpler and more cost-effective in the OEM:

1. It allows consumers to get the best deals

Being a dynamic, customisable and customer-focused platform that displays the latest real-time electricity pricing information, Voltz ensures that customers are able to receive better rates as compared to retailers’ published rates.

Using its group auction feature, residential consumers can join a group with their preferred price plan types and band together to achieve a higher level of energy usage for better deals.

This actively encourages licensed retailers to re-evaluate their margins as they attempt to outbid one another to achieve the group acquisitions. Due to greater economies of scale and a higher sales volume, retailers can pass more savings to consumers and also enjoy a lower cost of acquisition.

2. Its real-time pricings and updates result in an equal playing field

Voltz’s group auction feature enables residential consumers to join a group with their preferred price plan types and band together to achieve a higher level of energy usage for better deals. PHOTO: VOLTZ ENERGY

Using Voltz’s residential group auction feature is simple and free. Signing up takes less than two minutes and can be done in the comfort of your home.

By joining its residential group auction, customers can view customised plans side by side, eliminating the need to independently source and compare bespoke plans offered by retailers or pushy sales agents.

In addition, electricity retailers will publish their latest rewards and rates on the platform. Likewise, Voltz will display the licensed retailers’ critical terms and hidden charges on the platform.

Even if they are on the go, customers will be able to watch the auction happen and receive real-time notifications when retailers offer bids.

With readily available and transparent information, all parties are assured of a reliable and hassle-free comparison experience.

3. It offers a secure and seamless auction and transition experience

As a preventive measure against unauthorised auction initiations and false data entries, Voltz will collect a refundable minimal amount based on your household type prior to the auction.

This ensures that the retailers are bidding for real accounts and pricing decisions are protected from fraudulent sign-ups.

After successfully joining an auction group, you can easily invite your family and friends to participate. Once the minimum number of sign-ups are met, the auction will automatically begin.

Each auction will end at 2pm the next working day. The top five retailers with the best rates (i.e. savings versus the regulated tariff) will be featured, and each group member can vote for his preferred retailer.

The voting is not just based on pricing. Customers can evaluate price offerings, value-added perks, retailers’ unique selling points, one-off rewards, as well as terms and charges to make a final decision. Voltz aims to put the value propositions of all parties upfront instead of only being a price-based comparison portal. All members in the group will be notified at every step of the way.

Customers can evaluate price offerings, value-added perks, retailers’ unique selling points, one-off rewards, as well as terms and charges to make a final decision. PHOTO: VOLTZ ENERGY

To ensure complete transparency and quality assurance for consumers, Voltz has an esteemed Advisory Panel of industry experts and key personnel who represent the retail companies to maintain continuous innovation even as the needs of the energy industry evolve.

Voltz also abides by the code of conduct and regulations set by the Energy Market Authority. This means that customers can look forward to using a fair and concise comparison platform, and enjoy a smooth and secure switch to their newly selected retailer after the auction ends.

Says Mr Wicknesh Maratheyah, managing director of Voltz Energy, “Voltz is a reliable digital platform that empowers every home and business in Singapore to compare electricity price plans with total transparency. They can also use the real-time reverse auction for greater savings — the customer has everything to gain.

“Voltz’s 24-hour customer service team will ensure a seamless transition and render assistance to all customers on the auction process.”

Voltz currently has six licensed retailers on board — Best Electricity Supply, ES Power, iSwitch, PacificLight Energy, Red Dot Power and Sunseap — with more to follow.

  • Energy Economy , 
  • Oil & Gas

ADB signs $227.7m loan deal for 2,500MW power plant in Thailand

16 November 2018

 – 

  • Thailand

The Asian Development Bank (ADB) has signed a $227.7m loan deal with Gulf SRC Company to build a 2,500MW combined cycle power plant (CCPP) in Thailand’s Chonburi Province.

Established in 2012, Gulf SRC builds and operates power plants and is completely owned by Independent Power Development, a joint venture (JV) between Thailand-based power generation company Gulf Energy Development (GED) and Japans trading company Mitsui & Co.

GED CEO Sarath Ratanavadi said: “This project is important as it will help produce the growth and industrial transformation that is expected under the Government of Thailand’s Eastern Economic Corridor (EEC) programme.

“We appreciate ADB’s leadership in mobilising the finance to make the project possible.”

The loan for the Chonburi natural gas power project is expected to help reliable and cost-effective power generation in the region.

“Increased capacity for power generation is essential for rapidly growing countries like Thailand as energy demand will continue to rise.”

ADB signed the loan agreement with its co-financiers including the Japan Bank for International Cooperation and ten other international and local commercial banks.

The new plant will feature combined-cycle gas turbine technology and is expected to be operational by 2022.

Once commissioned, the power plant will be the largest in Thailand that will use natural gas as a resource for power generation.

In addition to supplying clean and cost-effective energy to the country’s electricity grid, the project will provide employment opportunity to the local population.

ADB deputy private sector operations director general Christopher Thieme said: “Increased capacity for power generation is essential for rapidly growing countries like Thailand as energy demand will continue to rise.

“ADB’s financing of Gulf SRC will support the creation of a cleaner and more affordable source of energy generation in Thailand.”

  • Electricity/Power Grid

24-Hour Electricity in Rakhine to Be Delivered by End of Year

16 November 2018

 – 

  • Myanmar

NAYPYITAW — A 30-billion-kyat project to provide 24-hour electricity to four townships in Rakhine State will be completed in December, according to the Department of Electric Power Transmission and System Control under the Ministry of Electricity and Energy.

The project was launched in 2016 to provide electricity to Ponnagyun, Rathedaung, Buthidaung and Maungdaw townships. The first three townships have access to electricity at this point, said director U Kyaw Swa Soe Naing of the department.

“We’ve supplied electricity reaching Buthidaung. Only Maungdaw is left. We expect to complete the project by the end of December,” he said during the ministry’s monthly press conference in Naypyitaw on Thursday.

As of March, 1,530 households in Rathedaung and 3,374 households in Buthidaung had electricity around the clock, he added.

The project took so long due to various reasons including instability in the region and logistical difficulties.

Buthidaung Township has access to electricity around the clock on a trial basis as of November, said Lower House lawmaker U Aung Thaung Shwe of the township.

A curfew has been in effect in Buthidaung and Maungdaw townships and civilians are not allowed to go outside between 10 p.m. and 5 a.m.

“As we have electricity now, people will feel emotionally safer despite the curfew,” he said.

“We have electricity, but there are still many people who don’t because they don’t yet have a meter box. So we still need to use charcoal to cook,” said Daw May Han Lwint, a resident of No. 4 Thabyaegon Ward in Buthidaung.

Including Maungdaw, the electricity coverage will have reached 96 percent of Rakhine State by the end of December, according to the Ministry of Electricity and Energy.

“Those without meter boxes still do not have electricity. A meter box costs more than 100,000 kyats and not all of the people can afford that,” said Upper House lawmaker U Aung Kyaw Zan of Rakhine State Constituency (9).

According to the Ministry of Electricity and Energy, Myanmar currently has 24 hydropower plants, 22 gas-fired power plants, and a coal-fired power plant, which produce a combined output of more than 3,000 megawatts that covers only 37.85 percent of total households in the country.

The ministry is building four gas-fired power plants with a projected total output of some 3,000 megawatts.

  • Oil & Gas

Myanmar plans first oil and gas bids since 2014

16 November 2018

 – 

  • Myanmar

New bids for oil and gas exploration and development rights on a series of blocks, along with reforms to joint-venture requirements, are expected to stoke renewed interest in Myanmar’s energy sector and boost investment inflows.

On August 30 the Ministry of Electricity and Energy (MoEE) announced it would be opening fresh rounds of bidding for oil and gas blocks in the first half of next year, and there are plans to launch a tender for at least one onshore block before the end of 2018.

If all goes according to plan, the MoEE’s Department of Oil and Gas Planning will offer 18 onshore and 13 offshore blocks.

The bids are aimed at revitalising Myanmar’s energy sector, which has seen activity slow down in recent years. The last round of exploration and production (E&P) tenders were held under the former government in 2014.

However, of the 31 blocks the MoEE intends to offer, 16 have been awarded in previous tender rounds, and the winning bidders subsequently relinquished their exploration rights. Preliminary testing was conducted on some of the blocks that were handed back by former leaseholders, which may raise doubts over their commercial viability.

A lack of E&P opportunities in recent years, along with the departure of a number of international energy companies from the local market, has been a major contributor to declining foreign direct investment (FDI).

In FY 2017/18 the total value of FDI fell from US$6.65 billion to US$5.72 billion, according to the Myanmar Investment Commission.

New discovery could fuel investment appetite in offshore fields

Nonetheless, recent finds in the upstream energy segment have brought new opportunities in the country’s offshore fields to the fore.

On September 22 France-headquartered multinational energy company Total reported encouraging results from preliminary testing at the offshore Shwe Yee Htun-2 field, located approximately 100 km north-east of Pathein township. Initial appraisal of the find indicates significant natural gas reserves of commercial viability.

Further testing on the block will be carried out to determine the extent of the deposit, since gas was found in each of the five appraisal wells, officials said.

The Shwe Yee Htun-2 field is part of the larger A6 block that has estimated reserves of up to 3trn cu feet, according to a statement by Total.

Myanmar has 53 onshore and 51 offshore blocks that have been identified as having commercially extractable reserves, and activity is currently under way at 35 onshore and 38 offshore blocks.

Production-sharing contracts revised to attract international investors

Beyond offering new prospects in oil and gas, the government is also looking to lift the requirement that overseas investors partner with a local company.

“It will no longer be mandatory to join up with local firms,” Daw Khin Htay, director at the state-owned Myanma Oil and Gas Enterprise, said at a press conference in mid-July. “This will instead be made voluntary in the future.”

In the past, the authorities required that oil and gas projects be joint ventures. This was in part to ensure skills and technology transfer to the domestic energy sector, in order to better equip it for future growth. However, the requirement also diluted foreign investors’ holdings and revenue.

Potential leaseholders may also be encouraged by reports that the Department of Oil and Gas Planning is reviewing the terms of production-sharing contracts.

According to consultancy Wood Mackenzie, some contracts mandate that the state receive up to 94 per cent of all revenue generated from hydrocarbons projects, which is at the upper end of the international scale. Additionally, the government does not currently share the risk in exploration and development costs. To this end, stakeholders have called for the government to reduce its share of revenue from oil and gas projects.

Although this would lower state receipts from each project, the increased flexibility of energy contracts could help to increase the investment appeal of the new blocks and future offerings. However, this restructuring has yet to actually take place.

This Myanmar economic update was produced by Oxford business Group.

  • Renewables

Cambodia to boost clean energy use, including hydropower

16 November 2018

 – 

  • Cambodia

Cambodia will push ahead with plans to use hydropower and coal to electrify the entire country by 2020, but solar energy will play some role, especially in remote areas, an energy ministry official said on Wednesday. The Southeast Asian nation has electrified rapidly since 2000, when only 16% of the population had access to power, according to the World Bank.

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ASEAN Centre for Energy (ACE) is an intergovernmental organisation within ASEAN structure that represents the 10 ASEAN Member States’ (AMS) interests in the energy sector.

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