News Clipping Archive - Page 1231 of 1294

Others ,
Renewables

PLUS launches country’s first solar EV charging station

13 December 2018

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Malaysia

MELAKA: PLUS Malaysia Bhd (PLUS), today launched the country’s first solar electric vehicle (EV) charging station.

The highway operator plans to build five more such stations by early 2020.

It’s Managing Director Datuk Azman Ismail said the first station, located at the Ayer Keroh Overhead Bridge Restaurant (southbound) on the North-South Expressway here, began operation in May and could be used for free.

It was built at a cost of RM450,000 in collaboration with Malaysian Green Technology Corporation (GreenTech Malaysia) and the United Nations Industrial Development Organisation, through the Global Environment Facility.

PLUS and the other parties involved are also in discussion to set up five more solar EV charging stations at the rest and service areas under PLUS’s management, Azman said.

These stations – to be built in stages in Pagoh (southbound), Tapah (southbound), Dengkil (southbound), Gunung Semanggol (northbound) and Seremban (northbound) – would be fully completed by early 2020, he said.

“We also plan to build stations at other rest and service areas, but this depends on consumer response and the fund available, as the cost of building such a station is fairly high,” he told reporters after officiating the station launching ceremony here today.

GreenTech Malaysia’s Acting Chief Executive Officer Syed Ahmad Syed Mustafa was also present.

Azman said the initiative was in line with PLUS’ objectives of giving a more positive travel experience and promoting public awareness on green technology and innovation.

“The Ayer Keroh Overhead Bridge Restaurant (southbound) was selected as the first location for an EV charging station, as it is a main route for most users of EVs and plug-in hybrids.

“Besides, most of the existing EV charging stations are located in the Klang Valley, and this initiative will enable the EV and plug-in hybrid users to charge their vehicles while using other facilities in the (overhead bridge) area,” he added.

He noted that PLUS had implemented various green technology initiatives to help protect the environment, including through the usage of biodegradable products such as plastics, cups, food containers, spoons, forks and straws at several rest and service areas.

Meanwhile, Syed Ahmad said the construction of this first solar EV charging stations at the PLUS highway represented a milestone in promoting low-carbon mobility and the use of renewable energy to charge EVs.

EV users, he noted, required an hour to an hour and a half to fully charge their vehicles and it could last for about 490 kilometres. – Bernama

Oil & Gas

Singapore LNG seeks EOIs for storage tank

13 December 2018

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Singapore

As part of continuing efforts to develop Singapore as an LNG trading hub, SLNG will be able to construct another LNG storage tank at the SLNG Terminal on Jurong Island, Singapore.

SLNG has announced that it is keen to explore interest in the market to underpin this facility.

SLNG is thus seeking non-binding Expressions of Interest (EOI) from interested parties for the use of this new tank, in order to assess the market demand for such additional infrastructure.

The EOI should contain an indicative price offer (in US$) and a proposal for how the tank could be used, and SLNG’s preferred terms will form the key basis for considering any proposal.

However, SLNG is also open to considering alternative proposals and different structures, so long as they meet SLNG’s objectives.

Successful Bidders will be invited to participate in a full Request For Proposal to be issued by SLNG at a later date, subject to the prior approval of the Energy Market Authority of Singapore. Any submitted proposal will be shared with the Authority.

Energy Efficiency ,
Others

KKR powers up Singapore’s Barghest Building Performance with $33m investment

13 December 2018

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Singapore

KKR has invested S$45m ($33m) in Singapore-based energy savings business Barghest Building Performance, as the firm peruses its impact investment strategy.

BBP provides energy efficiency services for heating, ventilation and air conditioning systems in commercial and industrial buildings. The company has operations across Southeast Asia, China, India and Taiwan.

KKR launched its dedicated Global Impact business in 2018 to invest in businesses which offer commercial solutions toward the achieving the Sustainable Development Goals.

“Our Global Impact team is focused on investing behind companies whose core commercial product or service addresses global environmental or social challenges,” said a statement from KKR Global Impact co-heads Robert Antablin and Ken Mehlman.

“BBP contributes solutions to two of the United Nations SDGs – Affordable and Clean Energy, and Industry, Innovation and Infrastructure – with a business model meant to fundamentally change best practices for energy management.

“BP’s motivation, as is ours, is to achieve meaningful and sustainable costs savings for customers directly alongside long-term and measurable environmental impacts for society”

KKR recently appointed former Macquarie exec David Luboff as head of Asia-Pacific infrastructure. The global private equity giant also agreed to invest up to S$500m ($367m) for a stake in Asian luxury lifestyle and wellness products business V3 Group.

Oil & Gas

Shell Singapore appoints new country chairwoman

13 December 2018

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Singapore

SINGAPORE, Dec 13 (Reuters) – Shell Singapore, a unit of Royal Dutch Shell, has appointed a new country chairwoman who will assume the position from January next year, the company said in a statement on its website.

Aw Kah Peng, who is currently general manager for Shell’s chemicals intermediates business in Asia Pacific, will succeed Goh Swee Chen, who will retire at the end of January, Shell said.

Goh has been chair of Shell Singapore since 2014.

Aw joined Shell in 2012 as general manager for global commercial strategy. Her previous stints include being chief executive of Singapore Tourism Board as well as work experience in the Economic Development Board, Shell added.

Energy Cooperation

Brunei, Bangladesh companies to explore green energy opportunities

13 December 2018

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Brunei Darussalam

| Achong Tanjong | A MEMORANDUM of Understanding (MoU) between Brunei Darussalam’s Dimension Strata Sdn Bhd and Bangladesh’s Green Power Ltd was held at the Bangladeshi High Commission in Brunei Darussalam in Jalan Sungai Akar, for joint collaboration in exploring investment and business opportunities yesterday. The ceremony was witnessed by the Bangladesh High Commissioner to…

Renewables

MRC pushes bid to become a key player in solar power

13 December 2018

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Philippines

MANILA, Philippines — MRC Allied Inc. is pursuing a solar rooftop project in Mindanao to meet its 100-MW target and become a key player in the country’s solar industry.

In a disclosure to the Philippine Stock Exchange yesterday, MRC said it executed a memorandum of agreement for the development and installation of a 1.1-megawatt solar photovoltaic (PV) rooftop system for a mall located in the Mindanao area.

“Under the MOA, MRC will be the project developer and owner of the solar facility, while a private entity, owning and operating the mall, will be the power off-taker,” the disclosure read.

The company will be pouring in P67.4 million to finance the project.

The cooperation between the two parties shall be for 20 years from the issuance of the acceptance certificate.

Meanwhile, the MOA will take effect once the power off-taker issues the acceptance certificate to MRC after successful completion of actual performance testing and interconnection.

MRC president and chief executive officer Augusto Cosio Jr. said the company is targeting around 100 MW of solar power projects within the next two years.

The company inked a MOA with local firm Edward Marcs Philippines Inc. (EMPI) to power up two rice milling plants in north Luzon using solar power.

Under the deal, EMPI will supply, deliver, construct and test a 550-kilowatt-peak (kwp) grid-tied solar PV rooftop project for two rice milling plants located in the Northern Luzon.

It is part of the solar PV project pipeline of at least four MW, which MRC hopes to complete in the next two years.

MRC is also eyeing to raise its stake in the 50-MW Sulu Electric Power and Light Philippines Inc. (Sepalco) solar project, in which it currently has a 15 percent stake.

Cosio said the company is in talks with other stakeholders and plans to increase its shareholdings to gain an additional 45 percent, or at least majority control of the company.

If successful, MRC will have an attributable capacity of at least 30 MW from the Sepalco project.

Energy Cooperation ,
Energy Economy

Singapore Energy-Saving Firm Wins $33 Million KKR Investment

13 December 2018

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Philippines ,
Singapore

KKR & Co. is buying a stake of as much as S$45 million ($33 million) in Barghest Building Performance, a Singapore provider of energy saving solutions, in the private equity firm’s first impact investment globally.

It’s investing as part of a Series B fundraising for BBP, which helps companies throughout Asia reduce electricity consumption by digitizing air-conditioning systems. The company plans to use the funds to grow its business in the region, invest in new technology and hire more staff, according to BBP Chief Executive Officer Poyan Rajamand.

“Customers come to us because our solution allows them to save energy today,” Rajamand said in an interview Thursday with Bloomberg Television. “With advanced analytics that we have at the back end, we can help them save more and more, year after year.”

Global private private equity firms including KKR, TPG and Bain Capital LP have been pushing into impact investing, the idea of seeking both financial return and social benefit. KKR is currently raising funds for investments with this purpose as well as several other strategies, it said on its October earnings call.

TPG plans to start seeking $3 billion for its second social impact fund this year, while Bain Capital raised $390 million in 2017 for a fund that focuses on mission-oriented North American companies. Ashish Shastry, KKR’s Southeast Asia head, declined to comment on any impact fundraising by the firm.

Regional Expansion

BBP, which counts chipmaker Micron Technology Inc. and hotelier Shangri-La Asia Ltd. as clients, can help cut a building’s energy consumption by as much as 40 percent, Rajamand said. The six-year-old company uses sensors, software algorithms, equipment controls and engineering design to try to cut electricity consumption in air-conditioning systems in commercial and industrial buildings.

It plans to expand to the Philippines and possibly South Korea and Japan, Rajamand told Bloomberg earlier this week. The company’s existing markets include China, India and Taiwan. BBP could grow its headcount by about half, to 60 people, by the end of next year, he said.

The BBP deal adds to almost $900 million of investments KKR has announced in Southeast Asia this year, more than double last year’s volume, according to data compiled by Bloomberg. KKR agreed this month to invest as much as S$500 million in V3 Group Ltd., the Singapore-based luxury retailer that owns brands including Osim massage chairs and TWG Tea.

It has also pumped S$200 million into PropertyGuru Pte, the region’s biggest real estate portal, and took a stake in Philippine technology firm Voyager Innovations Inc.

“We hope that this momentum of investing will be the new normal for KKR in Southeast Asia,” KKR’s Shastry said. “We’re at the beginning of a very interesting time for innovation” in the region.

Electricity/Power Grid

Vietnam Electricity to speed up projects in 2019 amidst rising demand

12 December 2018

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Vietnam

It wants to accelerate the construction of transformer stations and start operations of a line in South Saigon.

Vietnam Electricity (EVN) will accelerate its projects in 2019 to meet rising demand and ensure sufficient supply for the year, Vietnam Energy reports.

The projects include 220kV transformer stations in Luu Xa, Quynh Luu and Quang Chau and the Binh Long – Tay Ninh 220kV line. EVN will also hand over the site for the construction of a 500kV line.

It also eyes switching on the operations of the South Saigon – Precinct 8 220kV line in December 2018.

EVN is also turning its affiliate Electricity Generation Corporation 3 (EVNGENCO3) into a shareholding company. It eyes doing the same with EVNGENCO2 and EVNGENCO1 following the prime minister’s guidelines.

The report added that ensuring electricity supply at reasonable prices has been a headache for authorities due to rising demand and increased demands from foreign investors that operate their factories in Vietnam.

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