ACWA Power has announced that ICBC is acting as the mandated lead arranger for a US$1.5 billion senior loan for the fourth phase of the Mohamed bin Rashid Solar Park, the largest thermo-solar power plant in the world. Financial close is expected shortly.
Energy Finance & Investment News in Asia
IPPToday #194: 1,200 MW coal-fired power project in Vietnam to receive almost US$2 billion from lenders
Korea Electric Power and Marubeni Corporation have secured approximately US$1.87 billion from a consortium of lenders to finance the Nghi Son 2 coal-fired power generation project in Vietnam. This follows the commercial close of the project, which was achieved in December.
Lebanon’s Center for Energy Conservation (LCEC) has issued a Request for Expresions of Interest (RFEOI) for the design, development, financing, construction and operation of photovoltaic parks with between 210 MWp and 300 MWp capacity and battery storage, at various locations throughout Lebanon as selected by the developers.
In the past week, state government agencies of both Karnataka and Maharashtra, located in the south-west and west of India respectively, have re-launched solar tenders due to poor initial responses.
The Oman Power and Water Procurement Company (OPWP) has issued a Request for Qualification (RFQ) for a clean coal-fired independent power project (IPP) with a capacity of 1,200 MW and located at Duqm, around 530km south of the capital, Muscat. This is the first IPP based on clean coal technology to be developed in the country.
ENGIE has announced that it has won a 25-year power purchase agreement (PPA) for a 200 MW wind project in Tamil Nadu, a state in the south of India.
The National Institute of Wind Energy (NIWE), part of the Ministry of New and Renewable Energy of the Government of India, has issued a Request for Expressions of Interest for the country's first commercial offshore wind farm, to be located off the coast of Gujarat in the west, and have a generation capacity of 1 GW.
NEC Capital Solutions Ltd is providing a syndicated loan of JPY2.8 billion (US$26.4 million) to Japan Asia Group Ltd (JAG) for the construction of a 16.6 MW solar power plant in Sano city, Tochigi prefecture.
The Ministry of Energy Infrastructure and Natural Resources of the Government of Armenia has announced that Fotowatio Renewable Ventures (FRV) has been selected as the winning bidder in a tender for the construction of a 55 MW solar park in the Gegharkunik province of the country.
The US$1 billion Nam Theun 1 hydroelectric power project has reached financial close. The project is being developed by Phonesack Group. Co. Ltd. and Electricity Generating Public Company Limited (EGCO) and involves the construction of a 670 MW hydroelectric plant on the Nam Kading River, about 33 km upstream from its confluence with the Mekong River in the Borikhamxai province of Laos.
The Japan Bank for International Cooperation (JBIC) has signed a loan agreement with PT Supreme Energy Rantau Dedap (SERD) for project finance amounting up to approximately US$188 million for the Rantau Dedap Geothermal Power Project in Indonesia. SERD is an Indonesian company partially owned by Marubeni Corporation and Tohoku Electric Power Co., Ltd.
The Government of Vietnam has appointed the EDF Group as leader of the international consortium in charge the Son My 1 project, located in the Quang Ngai province of Vietnam. The project involves the construction of a 2000 MW gas-fired power plant, which uses combined cycle gas turbine technology.
The Government of Odisha, through its renewable energy promotion agency GRIDCO, has issued a Request for Selection (RfS) for the development of 200 MW grid-connected solar photovoltaic power projects to be set up in Odisha, a state in the east of India. Responses are invited until 29 April 2018.
Macquarie Infrastructure and Real Assets (MIRA), a division of Macquarie Group, has announced the close of its second Asian regional infrastructure fund at its hard cap of $US3.3 billion in investor commitments.
The Public Investment Fund of Saudi Arabia (PIF) has signed a non-binding Memorandum of Understanding (MoU) with SoftBank's Vision Fund LP (SBVF) to create the New Solar Energy Plan 2030, which envisions the development of between 150 GW and 200 GW solar power generation capacity in Saudi Arabia by 2030.
The Asian Development Bank (ADB) and the Government of Pakistan have signed a US$260 million loan agreement to improve Pakistan’s power transmission network.
GCM Resources, a London-based resource exploration and development company, has announced that it has agreed a Contract Framework Agreement with China Gezhouba Group International Engineering Co. (CGGC) which awards CGGC the exclusive right for the engineering, procurement, construction, and commissioning of a proposed 2,000MW mine-mouth thermal power plant which is part of GCM's Phulbari Coal and Power Project in north-west Bangladesh.
Suzlon Group, India’s largest renewable energy solutions provider, announced that it has won two wind power projects of 300 MW and 200 MW respective capacity in a tender conducted by the Solar Energy Corporation of India (SECI). The projects will be located in the Kutch district of Gujarat, a state in the west of India.
Mahindra Renewables Pvt. Ltd., a wholly owned subsidiary of Mahindra Susten Pvt. Ltd., has achieved financial close of its 250 MW solar power project, to be located in the Rewa district of Madhya Pradesh. The company has received project debt amounting to INR7.5 billion (US$114.8 million) from YES BANK Ltd and up to INR2 billion (US$30.6 million) from other financial institutions.
IFC, a member of the World Bank Group, and Amundi, Europe’s largest asset manager, have announced the successful launch of the world’s largest targeted green bond fund focused on emerging markets, the Amundi Planet Emerging Green One (EGO).