News Clipping Archive - Page 1224 of 1296

Renewables

Sembcorp to commission Singapore’s largest rooftop solar farm

2 January 2019

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Singapore

New Delhi: Sembcorp Industries and Cache Logistics Trust today announced they have signed a solar power agreement for installation and operation of rooftop solar farms at three logistics warehouses in Singapore owned by Cache.

Under the agreement, Sembcorp will install, own and operate rooftop solar panels with a combined capacity of around 7.9 Megawatt atop Cache’s Commodity Hub, Pandan Logistics Hub and Cache Changi Districentre.

“These solar panels will provide renewable energy and significantly lower the carbon footprint for Cache. Any surplus solar power generated will be channelled to the grid. When completed, Commodity Hub will house Singapore’s largest rooftop solar facility to date, representing 6.2 Mw in peak capacity,” Cache said in a statement.

When fully installed in mid-2019, the system is expected to produce over 9,400 Mw hours of power annually. The project will help avoid close to 4 million kilogrammes of carbon dioxide emissions a year, the company said.

Coal

SMC-Meralco consortium investing P99b in coal plant

2 January 2019

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Philippines

The joint venture of SMC Global Power Holding Corp. and Meralco PowerGen Corp. plans to spend P99 billion to put up a 1,200-megawatt coal project in Mariveles, Bataan. Mariveles Power Generation Corp., the joint venture firm, said in an environmental impact statement submitted to the Environmental Management Bureau it would construct and operate the Mariveles Coal Power Plant project in two phases, each with a 600-MW capacity. The proposed project will be built on a 150-hectare property within the Mariveles Economic Zone of the Authority of the Freeport Area of Bataan in Barangay Biaan, Mariveles. The project is expected to use imported coal from Indonesia and locally available coal from Daguma and Semirara coal mining operations. Daguma Agro Minerals Inc., a unit of San Miguel Corp., the parent firm of SMC Global Power, will supply the Daguma coal. The coal project will start upon completion of all needed permits and other regulatory requirements. Completion is expected by 2022.

“The MPGC as the proponent commits to provide overall policy and guidance with regards to the implementation of the project. MPGPC shall ensure that all necessary mitigating measures including budgets and agreements with other concerned national and local government agencies are included in all contracts to prevent and/or minimize the negative impacts of the project and enhance the project impacts,” the company said.

MPGC will supply 528 MW to Manila Electric Co. pending approval of a power supply agreement by the Energy Regulatory Commission. Hearings on the PSA were suspended previously because of the project’s lack of an environmental compliance certificate.

San Miguel has several power projects in the pipeline which also include hydro, solar and battery storage projects.

Meralco PowerGen, the power arm of Meralco, is waiting for approval of its PSA for the 1,200-MW Atimonan ultra supercritical coal project in Atimonan, Quezon.

Meralco PowerGen together with partner New Growth BV, a wholly-owned subsidiary of Electricity Generating Public Co. Limited of Thailand, is set to complete the 455-MW San Buenaventura coal-fired power plant in Mauban, Quezon by September.

Renewables

China’s ET finds home on PH rooftops

2 January 2019

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Philippines

A subsidiary of Chinese solar cell manufacturer ET Solar has commissioned its first commercial solar project in the Philippines—on the rooftop of an American car dealership in Cebu City.

ET Energy said in a statement the solar rooftop system has been finished and connected to the grid, for use of Fairlane Automotive Ventures Inc., a dealer of Ford Motor vehicles.

“ET Energy has always been committed to entering the Philippine solar market,” company chief executive Dennis She said.

“In addition to this project, a 1.4-megawatt PV (photovoltaic) project in cooperation with a local well-known power giant has been connected to the grid,” She said.

He added ET Energy was also building commercial rooftop PV projects for Toyota Motor Corp.

“These substantial projects show that we can and will fully open the Philippines’ industrial and commercial PV market,” She also said.

The project for Fairlane Automotive—involving complete engineering, procurement and construction services—saw the installation of 273 solar modules.

ET Energy said the project had a lifecycle of over 25 years and would reduce both utility costs and carbon dioxide emissions.

The company said installed solar capacity in the Philippines was estimated to reach 1.6 gigawatts by 2020.

Many local industrial and commercial owners find that building a rooftop PV power plant is a good business decision, because it gives them more efficient, stable and lower-cost electricity, the company said.

Oil & Gas ,
Others

India cuts tax on palm oil imports; Malaysia to benefit the most

2 January 2019

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Malaysia

Mumbai

INDIA has cut import taxes on crude and refined palm oil from South-east Asian countries after a request from suppliers, a government notification said.

The reduction will lead to higher imports of palm oil by the world’s biggest edible oil buyer in coming months as it would narrow the difference between the tropical vegetable oil and competitors such as soya oil and sunflower oil.

The duty on crude palm oil was lowered to 40 per cent from 44 per cent, while a tax on the refined variety was cut to 50 per cent from 54 per cent, according to the notification issued late on Monday. The cuts took effect on Tuesday.

Malaysian shipments of refined palm oil will be taxed at 45 per cent compared with 54 per cent earlier, the government said in a separate notice.

In March 2018, India raised the import tax on crude palm oil to 44 per cent from 30 per cent and lifted the tax on refined palm oil to 54 per cent from 40 per cent.

Palm oil is now seen as more competitive due to the duty reduction and this will lead to higher imports from January onwards, said Sandeep Bajoria, chief executive of the Sunvin Group, a Mumbai-based vegetable oil importer.

India primarily imports palm oil from Indonesia and Malaysia and soya oil from Argentina and Brazil. It also buys small volumes of sunflower oil from Ukraine and canola oil from Canada.

Its palm oil imports dropped 6.4 per cent from a year ago to 8.7 million tonnes in the 2017/18 marketing year ended in October, according to Solvent Extractors’ Association (SEA), a Mumbai-based trade body.

Indonesia and Malaysia, the top two palm oil producers, were seeking a reduction in the import tax by New Delhi as inventories were rising in both countries due to higher output.

India’s palm oil imports could have fallen in December but will jump this month as some importers had delayed shipments in anticipation of tax cuts, said BV Mehta, executive director of the SEA.

The effective duty difference between crude and refined palm oil has narrowed to 5.5 per cent from 11 per cent for shipments from Malaysia, which could lead to higher imports of refined palm oil, Mr Mehta said.

“This is a death knell for the domestic refining industry and will halt expansion of palm plantations in the country,” he said.

India relies on imports for 70 per cent of its edible oil consumption, up from 44 per cent in 2001/02.

“Traditionally, Indonesia corners the bulk of India’s palm oil market. The duty reduction will now allow Malaysia to raise its share,” said a Mumbai-based dealer with a global trading firm. REUTERS

Oil & Gas

Indonesia’s Medco Energi in talks to buy London-listed Ophir Energy

2 January 2019

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Indonesia

Singapore — Indonesian oil and gas group Medco Energi is in talks to buy UK-based Ophir Energy to create one of the biggest private upstream producers in Southeast Asia, the two companies said separately.

Shares in London-listed Ophir — an oil and gas company with upstream assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea and Tanzania — jumped in trading Wednesday, valuing it at GBP325 million ($414 million). The possible deal was announced Monday.

Medco Energi, with a market capitalization of around $900 million, has oil and gas exploration and production assets mainly in Indonesia, but has been expanding into Oman, Yemen and the US.

Combined with Medco’s 2018 target production 85,000 boe/d, Ophir’s output of 25,000 b/d of oil equivalent would take an enlarged Medco’s production to 110,000 boe/d, more the 90% of which would be within Southeast Asia, energy consultancy Wood Mackenzie estimated Wednesday.

“This is a bold move by Medco, and if successful would create a Southeast Asian upstream powerhouse,” Wood Mackenzie research director Angus Rodger said in a note. “This would catapult the firm into being the seventh largest non-NOC upstream producer in Southeast Asia, above Hess and BP, and just behind Repsol and Total.”

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Rodger said the deal would also bulk up Medco’s non-Asian exposure by adding growth options in Tanzania and Equatorial Guinea to existing positions in Libya, Oman, Yemen, Tunisia and the US.

“It would also offer exposure to the global upstream hotspot that is offshore Mexico, where Ophir recently secured participation in three blocks,” Rodger said.

He said after Ophir’s acquisition of Santos’s Asian assets last year, the explorer appeared to have pivoted its portfolio towards Asian growth, given its troubled Fortuna FLNG project in Equatorial Guinea was struggling to attract finance.

Medco Energi is also operational in the natural resources and power sectors, with gas, geothermal and hydro power plants in Indonesia through its 88% stake in Medco Power and a 39% interest in an Indonesian copper and gold mine.

Medco Energi said the purpose of the deal was “business development…there [is] no offer price determined, the amount of funds to be made for the cash offer, (or) the number of securities to be purchased.”

Under UK takeover rules, Medco Energi must announce a firm intention to make an offer for Ophir by January 28 or announce that it does not intend to make an offer.

Others

PTT unit to take over Glow Energy; TMB, Thanachart Bank in merger talks

2 January 2019

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Thailand

PTT Group’s Global Power Synergy has secured the approval to acquire a 69.11 per cent interest in Glow Energy, the Thai unit of French energy major Engie while Thanachart Bank and TMB Bank are in talks for a merger.

PTT’s $4b acquisition of Glow Energy approved

The Thai energy watchdog has approved the $4-billion takeover of Glow Energy Plc by state-owned PTT Group’s Global Power Synergy (GPSC), on the new condition that the deal would not result in an electricity monopoly in the country.

The Energy Regulatory Commission had rejected the acquisition proposal twice earlier. However, it has granted permission last week, given that Glow must sell Glow SPP1 to a third party before or at the same time as the merger between Glow and GPSC materialises.

Glow’s major shareholder, French power firm Engie, has entered into an agreement with GPSC for that amendment to the 69.11 per cent share sale, SET-listed Glow said in a filing.

“Any adjustment of GPSC’s tender price of Glow’s shares will be disclosed by GPSC to investors,” it added.

Glow SPP 1 provides 110 MW of electricity to the Electricity Generating Authority of Thailand under the Small Power Producer programme. The Glow demineralised water plant, starting commercial operation since 1999, is capable of producing a total of 120 cubic metres per hour of demineralised water.

The initial merger proposal had been submitted in June 2018, with estimation of the transaction amounting to $4 billion. It was then dismissed two times in October and December.

Glow said it recorded a net profit of 6.52 billion baht in the first nine months of 2018.

Thanachart Bank, TMB in talks for merger

In a consolidation move in the financial services space, Thanachart Bank and TMB Bank are examining the options of a merger, local media reported.

The local finance ministry might also put fresh funding in TMB following the merger, to retain its 25.9 per cent stake, the Bangkok Post cited Prapas Kong-Ied, general director of the State Enterprise Policy Office (Sepo).

The finance ministry is currently the largest shareholder in TMB. The lender also counts Dutch bank ING as a significant shareholder with a 25 per cent interest. Meanwhile, Thanachart Capital has 51 per cent in Thanachart Bank, and Canada’s Bank of Nova Scotia owns the rest.

Thanachart Bank and TMB are sixth and seventh largest banks in terms of total assets in Thailand, home to around 2,000 banks. Thailand has been encouraging local bank consolidation in a bid to create strong banking institutions in competition with global banks. In April 2018, the cabinet approved policies on tax deduction and exemption for merged banks. Krung Thai Bank was also said to be keen on acquiring TMB.

The merger talks between TMB and Thanachart Bank is expected to conclude in January.

Energy Efficiency

When Keeping Cool, Socioeconomic Status Matters

2 January 2019

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Singapore

AsianScientist (Jan. 2, 2018) – Singapore households from different socioeconomic groups vary significantly in their use of water and electricity for heat relief, according to a study by researchers from the National University of Singapore (NUS). They published their findings in the journal Nature Communications.

In Southeast Asia, climate models project annual temperature to increase by 1–4 degree Celsius, and winter rainfall to decrease by 20 to 30 percent by 2070. Currently, only eight percent of the three billion people living in the tropics have access to air-conditioning, compared to over 90 percent in the US and Japan.

To better understand how socioeconomic status affects resource consumption for heat relief, scientists led by Associate Professor Alberto Salvo of NUS examined the demand for water and energy among Singapore households across the socioeconomic distribution.

The researchers obtained data on the water and electricity bills of about 130,000 households in Singapore from 2012 to 2015, examining each household’s consumption of water and electricity over time. They observed that when ambient temperatures rise, water demand increases among lower-income Singapore households.

For instance, with a one-degree Celsius increase in temperature, the average household living in a two-room apartment (about 50m²) raises water use by nine liters per day, amounting to an additional daily shower for every 2.3 households. At the time of the study, less than 20 percent of two-room apartments had an air conditioner.

In sharp contrast, heat induces larger shifts in electricity demand and no significant change in water consumption among higher-income households, such as those staying in five- or six-room apartments (110m² or more). These households frequently have air conditioners, and the average increase in electricity demand was two kilowatt hours per day with every one-degree Celsius increase in temperature. This is equivalent to operating an air-conditioning unit for two more hours each day.

To complement the observational evidence from the study, a 300-person survey on heat relief behaviors by Singapore households was also conducted. Thirty-nine percent of respondents stated that on a very hot day, they would shower more often and longer. This is comparable to the 36 percent who indicated that they would turn on the air conditioner.

“As we face shifting temperature extremes and rainfall variability, the study can contribute towards improving demand forecasting for water and electricity in water-stressed cities in tropical Asia, where incomes are rising. This can facilitate better design and allocation of water and electricity grids,” said Salvo.

“Air conditioners powered by electricity generated from burning fossil fuels come at an environmental cost, but one added benefit is that they may reduce a household’s water demand when seeking relief from heat.”

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Source: National University of Singapore; Photo: Pixabay.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.

Electricity/Power Grid

Activists demand cheaper, public-focused power plan

1 January 2019

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Thailand

An advocacy group is planning to ask the Energy Ministry to revise its Power Development Plan draft, which it says has failed to raise people’s awareness on energy saving and may ultimately burden consumers with high electricity charges.

The call for a revision comes as Thailand gears up to launch its national Power Development Plan (PDP) for 2019-2037, which was put up for public hearings in Bangkok and four other regions last month.

The final hearing on the PDP draft took place in Bangkok on Dec 24, after similar hearings were held in Chiang Mai, Khon Kaen, Surat Thani and Chon Buri.

Suphakit Nuntavorkarn, a researcher at the Healthy Public Policy Foundation and a sustainable energy advocate, voiced his concerns over the erroneous load forecast assumptions contained in the draft.

He said the new PDP does not take into account the fact that the county’s actual average peak load has been declining since 1998, thus paving the way for the construction of more power plants to meet the forecast demand, which is far higher than real demand.

As a result, Mr Suphakit said, customers will lose out because the cost of constructing new power plants will ultimately be passed on to them.

Thailand’s average peak load decreased from 6.4% in 1998-2006 to 1.45% between 2013-2018 because of the global economic downturn and numerous energy savings campaigns.

The new PDP draft assumes the peak load for 2019-2037 to be 73,211 megawatts — higher than the peak load of 40,879 mW in 2018.

“The real victims of the government’s new PDP are the consumers,” he said.

“We will send a letter to ask the ministry to revise the draft for the benefit of the people.”

“The plan was created to justify the construction of megapower plants — such as the two 700-mW plants planned for the Western region, the bidding processes for which are expected next year,” he said.

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PTT’s $4b acquisition of Glow Energy approved

Thanachart Bank, TMB in talks for merger

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