EPIC Enters Malaysia’s Solar Market With New 28-Hectare Farm In Terengganu
Eastern Pacific Industrial Corp Bhd (EPIC) is entering Malaysia’s solar energy market via its subsidiary, EPIC Solar Sdn Bhd (ESSB), with a firm dedication to promoting the nation’s renewable energy objectives. Dr. Mamad Puteh, chairman of ESSB, announced that the company’s expansion aligns with Malaysia’s objective of reaching 40% renewable energy usage by 2035. Emphasizing their proactive strategy, Dr. Mamad highlighted ESSB’s pioneering efforts in solar projects on the East Coast. A significant milestone for ESSB is the launch of a 28-hectare solar farm in Teluk Kalong, Terengganu, which has a capacity of up to 18.5 megawatts (MW). This facility is set to be a key contributor to Malaysia’s renewable energy grid, supplying solar energy directly to Tenaga Nasional Bhd through the national grid for 21 years, until 2039.
Indonesia’s Renewable Energy Investment Stagnates: Urgent Reforms Needed To Reach $146 Billion 2030 Goal – Report
Indonesia faces a significant challenge in meeting its climate targets for 2030, with a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) highlighting the urgent need for policy and procedural reforms. To achieve its climate goal, the country requires $146 billion in private investment for renewable energy over the next decade. However, investment in this sector has stagnated, with only $1.5 billion attracted in 2023, translating to just 574 megawatts (MW) of additional capacity. Despite its vast renewable energy potential and strong economic growth, Indonesia lags behind its Southeast Asian peers in renewable energy development. Countries like Vietnam have made substantial advancements, boasting 13,035 MW of solar capacity and 6,466 MW of wind generation, while Indonesia’s progress remains minimal.
IFC and Ayala Land Collaborate on Sustainability-Linked Financing, Pioneering Green Building Initiatives in the Philippines
In a groundbreaking move to bolster the market for green development in the Philippines, the International Finance Corporation (IFC) has partnered with Ayala Land Inc. (ALI) to launch its first sustainability-linked financing package. This initiative is designed to support Ayala Land in its ambitious efforts to decarbonize its commercial real estate portfolio. IFC, a member of the World Bank Group and the largest global development institution dedicated to the private sector in emerging markets, has committed to investing up to Php 14.5 billion (approximately $250 million) in a sustainability-linked loan (SLL) for Ayala Land. The financing package is tied to two specific sustainability performance targets. The first target aims to certify 1.5 million square meters of Ayala Land’s existing office space by the end of 2025 with IFC’s EDGE Zero Carbon Certification, significantly increasing from the current 350,000 square meters.
SC Estate Builder Berhad Partners With Anjung Meriah Sdn. Bhd. In Malaysia’s Solar Energy Sector
SC Estate Builder Berhad has announced a strategic joint venture with Anjung Meriah Sdn. Bhd. through its wholly-owned subsidiary, SC Estate Construction Sdn. Bhd. The agreement, finalized on 24 July 2024, marks SCBUILD’s entry into Malaysia’s large-scale solar energy sector. Under the joint venture, SCECSB and AMSB will collaborate on the Large Scale Solar (LSS) Program or LSS Petra 2024, which Suruhanjaya Tenaga introduced on 1 April 2024. This program focuses on developing solar photovoltaic plants with a total capacity of 2,000 megawatts (MW) across Peninsular Malaysia. In the consortium, AMSB will hold a 60% stake, while SCECSB will own 40%. The joint venture aims to support Malaysia’s National Energy Transition Roadmap (NETR), the Twelfth Malaysia Plan (RMKe12), and the Mid-Term Review of the Twelfth Malaysia Plan. The partnership will focus on various Environmental, Social, and Governance (ESG) initiatives, including solar power installations on commercial and industrial buildings, affordable homes, and electric vehicle (EV) charging infrastructure.
PLN Announces Commitment To Green Electricity For Indonesia’s Industrial Sector With New GEAS Initiative
PT PLN (Persero) has announced its readiness to supply green electricity to Indonesia’s industrial sector through its Green Energy as a Service (GEAS) initiative. This commitment to providing clean electricity from renewable energy (EBT)-based power plants was highlighted during the “Green Energy Buyers Dialogue” event, which brought together key stakeholders from the Just Energy Transition Partnership (JETP) in Jakarta. The event included representatives from the Indonesian Government, the International Partners Group (IPG), the Glasgow Financial Alliance for Net Zero (GFANZ), international and domestic private banks, and various business actors. PLN President Director Darmawan Prasodjo emphasized the company’s dedication to supporting the global shift towards zero emissions, aligning with Indonesia’s Net Zero Emissions (NZE) target for 2060.
Pertamina Group Launches Solar Power Initiative To Boost Hydroponics In Dumai, Indonesia
In a bid to advance sustainable agricultural practices and support local communities, Pertamina Group has rolled out the Desa Energi Berdikari (DEB) program in Tanjung Palas Village, East Dumai District. This initiative involves the installation of solar power plants (PLTS) to support hydroponic farming and address energy challenges faced by local agricultural groups. Hydroponics, a method of growing plants without soil, has gained popularity since the COVID-19 pandemic, particularly for its potential to generate additional income and optimize limited space. The Sehati Group, a community organization in Dumai City, has been successfully cultivating lettuce and mustard greens using hydroponics. The group, which operates from its “Green House,” produces tens of kilograms of vegetables monthly, contributing about IDR 1,000,000 to the local economy.
SB Finance Launches Solar Panel Loan Program In The Philippines To Boost Sustainability
SB Finance, a subsidiary of Security Bank, has announced a new loan program designed to help customers finance the installation of solar panels in their homes. This initiative is made possible through collaborations with Advanced Energy Technologies (AET) Renewables Plus Co., Solviva Energy (a part of AboitizPower), and SeekCap, a loan marketplace by UBX Philippines Corporation, aims to support sustainable living by making solar energy more accessible. SB Finance President and CEO Abbie Dans-Casanova expressed enthusiasm about the new offering, stating, “SB Finance is proud to lead the charge in financing sustainable living by offering accessible loans for rooftop solar panels. By making solar energy investments more accessible, we empower our customers to make eco-friendly choices that positively impact their finances, as well as the environment. This financing initiative highlights our commitment to supporting renewable energy and creating a more sustainable future.”
Philippines’ President Marcos Outlines Strategies To Combat High Electricity Costs And Power Shortages
In his third State of the Nation Address (SONA), President Ferdinand R. Marcos Jr. reassured the public that his administration is actively working to tackle the high cost of electricity in the Philippines. Acknowledging the significant burden of elevated electricity prices on citizens, President Marcos emphasized that efforts are underway to mitigate this issue. “We all know that the price of electricity in our country is high. So we will continue to add electricity infrastructure that will eventually lower the price,” he stated. The President highlighted recent developments in the energy sector, noting that several energy projects aimed at reducing costs have been completed, and new investments are being directed into this crucial sector. These initiatives are part of a broader strategy to enhance the country’s electricity infrastructure and drive down prices.
NKS Solar One Seeks Approval For Floating Solar Power Plant In Luzon Grid
The Energy Regulatory Commission (ERC) of the Philippines is holding a virtual hearing for an application submitted by NKS Solar One Inc. (NKSI). NKSI is seeking authorization to develop, own, and operate a dedicated point-to-point limited transmission facility. This facility would connect their 250-megawatt peak (MWp)/190-megawatt alternating current (MWac) NKS Solar One Floating PV Power Plant Project to the Luzon Grid. The connection would be made directly to the 230kV Lumban Substation of the National Grid Corporation of the Philippines (NGCP). NKSI has also requested provisional authority, interim relief, and confidential treatment of certain information related to the project.
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