News Clipping Archive - Page 1317 of 1320

Bioenergy

Indonesia says looking at converting old oil refineries into biofuel plants

16 October 2018

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Indonesia

NUSA DUA, Indonesia (Reuters) – Indonesia is looking into converting two of the country’s older crude oil refineries into plants for producing biofuels, a cabinet minister said on Tuesday.

The government is conducting a study with Italian energy company ENI, which has successfully converted one of its refineries to the production of biofuels, Rini Soemarno, the minister overseeing state-controlled companies, told reporters on the sidelines of the IMF-World Bank annual meetings in Bali.

The move is part of a drive to reduce energy imports as the government tries to narrow the country’s current account gap amid emerging market volatility that has dragged the rupiah currency to its weakest in over 20 years.

ENI is conducting a study on state energy company Pertamina’s [PERTM.UL] Plaju and Dumai refineries, which were built around the 1930s, according to Soemarno.

“We have been planning to modernize those refineries, but we found out that they could be turned (into biofuel plants) – most likely these two will be converted,” Soemarno said.

According to Pertamina’s website, the Plaju plant has an oil refining capacity of 133,700 barrels per day (bpd), with Dumai at 170,000 bpd.

Indonesia’s biodiesel drive also aims to absorb the country’s rising crude palm oil output amid sluggish global demand. Indonesia is the world’s top producer of the commodity.

Starting in September, Indonesia enforced a mandatory use of B20 fuel, which has 20 percent bio-content mix, for all diesel machines in the country, including train locomotives and heavy equipment.

Government officials have estimated the nation could save billion of dollars in energy imports per year through the B20 program.

Renewables

First Philippine floating solar farm launched

16 October 2018

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Philippines

Floating solar farms are more technically efficient than ground-mounted projects because the cooling effect of the surrounding water on the panels makes the panels produce more energy. As an archipelago with bodies of water, the Philippines has a huge potential for floating solar farms.

According to a recent report, a 10 kilowatt-peak (kWp) floating solar farm was commissioned on Laguna Lake within Baras, Rizal province. This intended to supply the town with clean and free energy.

The project is the first floating solar farm in the Philippines, thereby opening the possibility of using energy from the sun beyond the traditional ground-based and rooftop-mounted systems.

The sustainable energy firm that launched it aims to show the technical feasibility of floating solar technology in the country.

The technology involves deploying solar photovoltaic panels on the surface of a body of water. The technology has been deployed in many other countries, such as Japan, China and the United States.

The 10kWP project is designed to last for 25 years. A connecting station was also built, allowing residents to use the power generated for charging gadgets, powering sound systems, and lighting up the river.

One of the advantages of floating solar farms over ground-mounted solar facilities is that no farm or forest lands are used. No trees are required to be cut.

Moreover, floating solar farms also mitigate water evaporation and the proliferation of algae in the lake, and may help aquatic and marine life to flourish.

The project also has the potential to improve the community and boost local tourism and economy.

Floating solar farms are more technically efficient than ground-mounted projects because the cooling effect of the surrounding water on the panels makes the panels produce more energy.

The pilot project would provide free renewable energy to the municipality of Baras. The solar farm is equipped with a battery storage system that ensures a sustainable power flow.

The pilot also forms part and paves the way for the development of a much larger and commercially-viable project, also being executed by the sustainable energy firm.

As an archipelago with inland and offshore bodies of water, the Philippines has a huge potential for floating solar farms.

This technology could also make use of lakes created by abandoned open-pit mining by deploying solar panels on top of it.

Prior to the commissioning of the solar farm, a tripartite memorandum of agreement was signed by the company, together with the town and the Laguna Lake Development Authority (LLDA), on 14 August 2018 for the pilot project.

The mission of the Laguna Lake Development Authority is to manage, develop and transform the Laguna de Bay Region into a vibrant economic zone through conservation of lake basin resources and good governance with the participation of empowered and responsible stakeholders.

In 1993, through Executive Order 149, the administrative supervision over the Agency was transferred from the Office of the President to the Department of Environment and Natural Resources (DENR).

Oil & Gas

INFOGRAPHIC: Natural gas and the Philippines’ rising power demands

16 October 2018

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Philippines

MANILA, Philippines – As consumption rates continue to rise and the government’s massive infrastructure program gets underway, one thing is clear: the Philippines’ demand for power will be higher than ever.

Can our existing energy mix sustain this growth? Based on latest figures, up to 50% of our energy comes from coal-fired power plants.

At first look, coal is the reasonable option because it is believed to be cheap and stable. However, increasing dependence on coal isn’t good for the environment or for our health. Recently, it hasn’t been good for our pockets, either, as coal prices and electricity rates have increased significantly

There is another major energy source that is cleaner, affordable, and reliable—natural gas. Based on latest figures from the Department of Energy, It already makes up 30% of Luzon’s existing energy mix, providing more than 2,000 MW’s of capacity to the Luzon grid.

Check out the infographic below to learn more about why natural gas can help address our rising power demands.

Illustration by Alyssa Arizabal/Rappler – Rappler.com

Coal

Challenges in Coal Supply for Thermal Power Production

16 October 2018

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Vietnam

As thermal power accounts for the largest proportion of Vietnam’s energy production, the country is facing challenges to ensure sufficient supply of coal for thermal power plants in the coming years.

According to President of the Vietnam Association of Thermal Science and Technology Truong Duy Nghia, coal-fired thermal power has dominated the country’s energy market, particularly in southern provinces. It is largely due to the fact that hydropower, also popular in Vietnam, requires spaces for reservoirs and large evacuation for facility construction in spite of its low prices, environmental friendliness and short building time. Meanwhile, most of natural resources for the development of hydropower plants have been almost used up, he noted.

Renewable energies like wind power, solar power or biomass are environmentally friendly but generation of these types of electricity has remained low, equivalent to only one fifth or one sixth of the thermal power production while they heavily depend on natural resources and weather conditions, making their prices relatively high.

Gas-fired thermal power faces similar issues in terms of cost as the operation and maintenance costs for a facility are very expensive, almost doubling those of the coal-fired thermal power while gas supply is limited.

According to the Ministry of Industry and Trade (MoIT), by 2020, Vietnam is expected to produce about 26,000 MW of coal-fired thermal power, accounting for 49.3 percent of the total electricity generation and consuming about 63 million tonnes of coal. By 2030, the production of coal-fired thermal electricity will increase to 55,300 MW of power, representing 53.2 percent of the total generation and consuming 129 million tonnes of coal.

It was estimated that to provide sufficient supply of fuel for coal-fired power plants, Vietnam will have to import about 90 million tonnes of coal a year after 2030, which puts the country under great pressure.

Since 2016, Vietnam has started importing coal which was input for Duyen Hai 3 Thermal Power Plant. In 2017, imports of coal totalled 4.5 million tonnes and it is likely to rise to about 24 million tonnes by 2020.

Le Van Luc, deputy head of the MoIT’s Electricity and Renewable Energy Authority, said if demand for coal keeps increasing, the ministry will propose the government to adopt a special mechanism for thermal power producers to sign long-term contracts for coal imports and allow them to hold ownership of coal mines abroad to stabilise the coal supply for electricity production.

He further noted that the ministry is drafting a plan for national power development for 2020 – 2030 with a post-2030 vision, which will also take the supply of coal for power generation into consideration.

IFC’s Komodo green bond raises $134m for climate investments

16 October 2018

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Indonesia

International Finance Corporation (IFC), a member of the World Bank Group, has issued its inaugural Indonesian rupiah Komodo green bond, attracting strong investor demand and raising Rp 2 trillion (US$134 million) to combat climate change.

“The issuance of IFC’s green Komodo bond underscores our commitment to support Indonesia in achieving environmentally sustainable economic growth,” said Nena Stoiljkovic, IFC’s vice president for Asia and the Pacific.

“The bond allows us to mobilize international funding into Indonesia’s climate-friendly projects and we intend to replicate and scale up this model to address the country’s climate challenges.”

This is the first such green Komodo offshore rupiah-denominated issuance by a multilateral development bank for investment into climate projects in Indonesia.

The five-year green bond, which will be listed on both the London Stock Exchange and the Singapore Stock Exchange, will support the local-currency market in Indonesia, funding the first-ever green bond issued in Indonesia by an IFC client, Bank OCBC NISP. The proceeds will finance underlying infrastructure and climate-related projects.

Jingdong Hua, IFC’s vice president and treasurer, said the first ever green Komodo bond issued in rupiah for climate investment in Indonesia was a significant milestone for IFC and for Indonesia to help the private sector manage foreign exchange risk through local-currency financing.

Since launching the Green Bond Program, IFC has raised billions of dollars for clean energy, climate-smart cities, green buildings and green finance. As revealed in IFC’s Green Bond Impact Report released on Monday, IFC issued 32 green bonds totaling $1.8 billion in the fiscal year that ended June 30.

Renewables

Risen Energy adds a further 50MW of solar to Vietnam projects

16 October 2018

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Vietnam

Major China-based PV manufacturer Risen Energy has secured a 50MW PV power plant through India’s Shapoorji Pallonji Group, a private infrastructure development company to be built Vietnam.

Risen Energy recently signed a contract with Surya Prakash Vietnam Energy Co, a subsidiary of Shapoorji Pallonji Group for the 50MW project, which is expected to be operational at the end of June 2019, with electricity supplied to EVN, the Vietnamese state grid.

The project is said to include 26MW of tracker based 72-cell multicrystalline modules with 360Wp power and 24MW using a fixed mount system. The plant is expected to generate an average annual power generation of 81,429MWh, according to the company.

Liu Dong, general manager of Risen Energy Vietnam, said, “Following an in-depth analysis of the Vietnamese market and an on-site investigation of the project, we selected the most comprehensive and best-performing power generation solutions given the project’s particulars, including the tracking systems, with an eye to increasing the ROI, while positioning the facility to be one that can act as a demonstration model for future such tracking systems. As we look further down the road, we expect to work closely with high-quality companies, including Surya Prakash, delivering more professional and reliable PV power generation solutions to the market.”

The latest project contract some closely following Risen Energy’s announcement in late September of a contract signed with Vietnam-based Tasco to build a 61MW solar project in Ninh Thuan, Vietnam, also to be connected to the grid in 2019.

The company expects to reach around 160MW of total installation PV capacity in Vietnam in 2018.

Risen Energy is also planning to increase its PV power plant project business from 800MW in 2018 to 1.5GW in 2019.

DOE rolls out Mindanao energy projects

16 October 2018

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Philippines

TAGUIG CITY, OCt. 8 — The Department of Energy (DOE) is setting its sights on present energy investment opportunities in Mindanao that will spark new developments and growth in the region.

In this regard, the DOE, through its Investment Promotion Office, is launching the Mindanao Energy Investment Forum (MEIF) to be held on 11 October 2018 at the Grand Regal Hotel in Davao.

The forum aims to present opportunities and updates on energy developments, which include the one-grid interconnection project and the establishment of additional power capacities in the area.

With the theme “Transcending Investments: Role in Encouraging Investors in the Energy Sector,” this year’s energy investment forum series seeks to match investors with possible energy projects in Mindanao.

The DOE will bridge investors with financing facilities available for energy projects, concerned government institutions and the business sector for knowledge sharing on the industry’s best practices in the region.

The 2018 MEIF will also have a panel discussion that will cover topics on the government agencies’ roles, and the current policies and programs in facilitating and ensuring the smooth implementation of energy projects in Mindanao.

For a better business sector engagement, the invited 2018 MEIF participants include the existing and potential energy investors in Mindanao, Energy Associations, Government Agencies, Chambers of Commerce, Financing Facilities, Electric Cooperatives and Local Government Units.

“The DOE is holding all these in order to empower you, the energy stakeholders, for better coordination and collaboration. Together, we can make a bigger impact in creating wealth for our nation,” Sec. Cusi stated.

Energy Economy

RAM rates world’s first UN SGD sukuk issued by HSBC Amanah Malaysia

16 October 2018

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Malaysia

KUALA LUMPUR: RAM Ratings has rated the world’s first United Nations (UN) Sustainable Development Goals (SDG) sukuk issued by HSBC Amanah Malaysia Bhd.

The sukuk is under the bank’s RM3bil multi-currency sukuk programme (2012/2032) which carries an AAA/stable rating.

“This global first by HSBC Amanah puts Malaysia again on the sustainable finance world map,” says Foo Su Yin, CEO of RAM Ratings.

The proceeds from this sukuk will be utilised for working capital in the ordinary course of HSBC Amanah’s Islamic banking business, to finance eligible businesses and projects in accordance with the HSBC SDG bond framework.

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=all

HSBC Amanah’s financial institution ratings stand at AAA/Stable/P1, premised on the bank’s strategic role as the Islamic arm of HSBC Bank Malaysia Bhd (rated AAA/Stable/P1 by RAM) as well as its status as one of two global hubs of HSBC Holdings plc’s Amanah network.

“HSBC Amanah is operationally integrated with HSBC Bank Malaysia and benefits from the HSBC Group’s solid global franchise, international network and expertise.

“We believe that the Bank will continue to enjoy parental support when needed,” said RAM.

RAM is an active contributor to sustainability and green finance globally.

On May 26, 2016, RAM joined the global line-up of six pioneer credit rating agency signatories to UN-supported Principles for Responsible Investment’s Statement on ESG in Credit Ratings.

In 2017, RAM rated the world’s first green sukuk issued by a solar power player, Tadau Energy Sdn Bhd.

In 2015, RAM rated the world’s first Sustainable Responsible Investment sukuk – Sukuk Ihsan – pioneered by Khazanah Nasional Bhd, the Malaysian government’s strategic investment fund.

RAM’s sister company, RAM Consultancy Services Sdn Bhd, is the first Asean-based provider of sustainability ratings and second opinions on green bonds and sukuk.

News Clipping

Floating solar farms are more technically efficient than ground-mounted projects because the cooling effect of the surrounding water on the panels makes the panels produce more energy. As an archipelago with bodies of water, the Philippines has a huge potential for floating solar farms.

As thermal power accounts for the largest proportion of Vietnam’s energy production, the country is facing challenges to ensure sufficient supply of coal for thermal power plants in the coming years.

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