B. Grimm Power has signed a Development Cooperation Agreement with Vietnamese conglomerate Xuan Cau to install a 420 MW solar power plant in Tay Ninh, in the south-west of Vietnam. The company claims that it is the largest solar project to ever be developed in Southeast Asia.
Energy Finance & Investment News in Asia
SoftBank Group, a Japanese conglomerate, is reportedly in advanced talks with the Indian government regarding an investment in solar projects in the country of between US$60 and 100 billion.
Greenko Energy Holdings (Greenko) has announced that it has entered into a definitive purchase agreement with AT Capital Group for the acquisition of Orange Renewables Singapore, for a total enterprise value of approximately US$922 million.
Macquarie Group, Ørsted and Swancor have secured TWD18.7 billion (US$626.1 million) project financing for the second phase of the Formosa 1 offshore wind project, Taiwan’s first commercial scale offshore wind farm, located off the coast of the Miaoli district of the country.
SK E&S, a subsidiary of Korean conglomerate SK Group, has signed a Letter of Intent (LOI) with the Department of Energy of the Philippines proposing the construction of liquefied natural gas (LNG) infrastructure worth US$1.7 billion. In addition, Phoenix Petroleum and China National Offshore Oil Corp (CNOOC) have signed a Memorandum of Understanding (MOU) to develop LNG projects in the country.
BAM International bv has announced it will acquire Strukton International’s majority share in the joint venture Tidal Bridge BV, established in 2015 to develop floating power plants that convert tidal energy into electricity.
The Solar Energy Corporation of India (SECI) has published a Request for Selection (RfS) for 2 GW wind projects. Developers are invited to submit projects with between 50 and 300 MW capacity to be delivered on build-own-operate (BOO) bases. SECI will sign 25-year power purchase agreements (PPAs) with selected proponents.
A scheme to install 2.5 GW of hybrid wind-solar projects in India, proposed by the Ministry of New and Renewable Energy (MNRE), has been approved by the President. The projects will be developed by private entities on build-own-operate (BOO) bases, with PPA contracts awarded through bidding processes.
IFC, a member of the World Bank Group, has signed a mandate with the government of Uzbekistan to advise the structuring of a tender for the construction and operation of a 100 MW solar plant.
United Green, a privately-owned strategic investment group, has secured a debt financing package to fund the construction of a 50 MW solar power plant in Baikonur in central Kazakhstan from the European Bank for Reconstruction and Development (EBRD), Clean Technology Fund (CTF) and the Asian Development Bank (ADB).
Korea South East Power Company (KOEN) has signed a Memorandum of Understanding (MoU) with the state government of Khyber Pakhtunkhwa, a province in the north-west of Pakistan, to develop a 197 MW hydropower project in the province.
The results of two solar auctions in India have been released this week, with a total of 1,750 MW allocated to nine developers.
Energy Capital Vietnam (ECV) has announced that it has signed a Memorandum of Understanding (MOU) with The People's Committee of Bac Lieu Province to develop an integrated Liquefied Natural Gas (LNG) to power project in the province, which is located in the Mekong Delta region of the country.
The government of Himachal Pradesh, a state in the north of India, has approved amendments to its hydropower policy with the aim of reviving 737 stalled projects which have a cumulative capacity of 5,100 MW.
United Green Group (UGG) and Tucher Group GmbH have secured a US$31.6 million syndicated loan from the European Bank for Reconstruction and Development (EBRD), Triodos Investment Management and FMO for the construction of the largest solar plant in Mongolia.
Atlantis Resources has signed a Memorandum of Understanding (MoU) with Xodus Group to develop a tidal energy project in Japan.
Qatar General Electricity and Water Corporation (KAHRAMAA) has published a pre-qualification questionnaire for the design, construction, financing and operation of a solar photovolatic facility with a generation capacity of around 500 MW.
Bangladesh Power Development Board (BPDB) and China Huadian Hong Kong Company Ltd (CHDHK) have signed a joint venture agreement to construct a 1,320 MW coal-fired power plant in Maheshkhali, Cox's Bazar, a district in the south-east of Bangladesh. The estimated cost of the project is US$2 billion.
SkyPower has announced that it intends to invest approximately US$1.3 billion to install 1,000 MW of solar energy generation capacity throughout Uzbekistan. The country’s President Shavkat Mirziyyoyev has signed a decree signifying the government’s full support of the project and sovereign guarantees.
The Maharashtra State Electricity Distribution Co Ltd (MSEDCL) has published a Request for Selection (RfS) for solar power developers interested in setting up ground-mounted photovoltaic power plants in the state, which is located in the west of India. The total capacity to be allocated is 1000 MW.