Week In ASEAN: Over 1,984.775 MW Of Solar Energy Capacity Set To Surge In The Philippines; Beacon VC And SUN Group Close $3 Million Series A Funding Round For ION Energy; And More

Powering The Future: Over 1,984.775 MW Of Solar Energy Capacity Set To Surge In The Philippines

In a bid to fortify the country’s energy infrastructure and ensure grid stability, the Department of Energy (DOE) reveals plans for the introduction of 4,164.92 megawatts (MW) of power projects this year. Currently, 161.20 MW of these ventures are fully operational, while another 835.888 MW are undergoing testing and commissioning. Comprising a blend of renewable and conventional sources, these projects encompass baseload, mid-merit, and peaking plants, with Luzon, Visayas, and Mindanao set to benefit from the additional capacities. The rollout timeline indicates 1,224.655 MW to commence operations in the 2nd quarter, followed by 1,352.167 MW in the 3rd quarter, and 1,571.154 MW in the 4th quarter.

Beacon VC and SUN Group Close $3 Million Series A Funding Round for Thai Solar Startup ION Energy

In a significant move towards advancing sustainable energy solutions in Thailand, Beacon VC, the corporate venture capital arm of Kasikornbank, has collaborated with Solar United Network Group (SUN Group) to finalize a Series A funding round of $3 million for ION Energy Company Limited (ION), a pioneering solar energy startup based in Thailand. Mr Thanapong Na Ranong, Managing Director of Beacon VC, highlighted the significance of this investment as a milestone for Beacon Impact Fund, emphasizing ION Energy’s role as the first Thai startup to receive funding through the fund. The investment aims to bolster ION’s capacity in providing affordable solar energy solutions to a wide customer base, including residential users and small-and-medium-sized enterprises (SMEs), with a focus on product development and service expansion.

Singapore-Indonesia Leaders’ Retreat Strengthens Bilateral Cooperation, Emphasizes Renewable Energy Partnership

Prime Minister Lee Hsien Loong of Singapore and President Joko Widodo of Indonesia convened for the Singapore-Indonesia Leaders’ Retreat in Bogor, Indonesia, marking their seventh and final meeting as leaders. The annual retreat, a testament to the enduring commitment to bilateral relations, resumed after a hiatus due to the COVID-19 pandemic. The Leaders celebrated the recent enactment of agreements under the Expanded Framework, including the Boundary Realignment Agreement, Treaty for Extradition of Fugitives, and Defence Cooperation Agreement, addressing longstanding issues and underscoring the spirit of cooperation between the two nations. Both leaders reaffirmed their dedication to implementing these agreements seamlessly.

Jiankun International Bhd Partners With Micro Energy For Solar PV Systems In Taman Panchor Jaya, Penang

Jiankun International Bhd has signed an MOU with Micro Energy Holdings (M) Sdn Bhd to install solar photovoltaic (PV) systems in one of its residential developments, Taman Panchor Jaya, located in Nibong Tebal, Penang. Taman Panchor Jaya is a double-storey landed residential development spread across a 7.58-acre (3.07-hectare) tract, comprising 116 units with a gross development value of RM72.69 million. The project is scheduled for completion in July 2026. Under the MOU, the units will be equipped with a minimum of 2.2 kW of solar PV systems.

Shizen International and Majuperak Holdings Berhad Sign MoU for Solar Power Projects in Perak, Malaysia

In a significant move towards advancing renewable energy initiatives, Shizen International Inc., a subsidiary of the Shizen Energy Group, inked a memorandum of understanding (MoU) with Majuperak Holdings Berhad (MHB), a prominent State Government-Linked Company (GLC) in Perak, Malaysia. The MoU outlines collaboration in developing ground-mounted solar power projects and assessing potential sites for floating solar projects within Perak. The signing ceremony was graced by key figures including Syed Agil Syed Hashim, Group Chief Executive Officer of MHB, and Rei Ushikubo, Chief Executive Officer of Shizen International. Notable witnesses included YAB Dato’ Seri Saarani bin Mohamad, Chief Minister of Perak, and Datuk Redza Rafiq Abdul Razak, Chief Executive of Perak State Development Corporation (PKNP) and Executive Chairman of MHB.

Exploring Renewable Energy Ventures: Lithuanian Delegation Seeks Opportunities In Philippines

A delegation of esteemed Lithuanian business leaders, led by Foreign Affairs Minister Gabrielius Landsbergis, is embarking on a journey to explore investment prospects within the burgeoning Information Communications Technology (ICT) and renewable energy sectors of the Philippines. This venture was announced by Department of Trade and Industry (DTI) Secretary Fred Pascual, signifying a significant step towards fostering bilateral economic ties. The meeting, facilitated by the Management Association of the Philippines (MAP) International Relations Committee (IRC) and the MAP Trade, Investments, and Tourism Committee (TITC), took place at the prestigious Shangri-La The Fort in Taguig City. Attending were key Philippine business figures and policymakers, spearheaded by Secretary Pascual, alongside Lithuanian Ambassador to the Philippines, Ričardas Šlepavičius.

Indonesia And IEA Collaborate To Accelerate Energy Transition: Joint Work Program Signed

Minister of Energy and Mineral Resources, Arifin Tasrif, recently inked the Joint Work Program (JWP) 2024-2025 with the Executive Director of the International Energy Agency (IEA), Fatih Birol. The program aims to expedite Indonesia’s energy transition and achieve Net Zero Emission (NZE) targets. During his visit to the IEA Paris Office, Minister Arifin highlighted the longstanding cooperation between Indonesia and the IEA, dating back to 2006 when Indonesia became an associated member. The JWP 2024-2025 marks the sixth collaboration between the two parties, focusing on accelerating Indonesia’s energy transition and NZE goals. In this latest JWP period, the Ministry of Energy and Mineral Resources will prioritize cooperation in areas such as accurate energy data and statistics for policy analysis and development. This includes capacity-building initiatives to enhance expertise in the energy sector.

Sembcorp Inks Landmark Renewable Energy Deal with Equinix for Data Centers in Singapore

Sembcorp Industries (Sembcorp) has announced a significant milestone as its subsidiary, Sembcorp Power Pte Ltd (Sembcorp Power), signs two long-term power purchase agreements (PPAs) with Equinix, Inc. subsidiaries for their data center operations in Singapore. Under these agreements, Sembcorp Power will provide a maximum capacity of 75MWp from its renewable energy portfolio and 30MW from its power generation portfolio to Equinix for up to 18 years. This marks Equinix’s first renewable energy PPA in Singapore, with the supply sourced from Sembcorp’s solar assets. Sembcorp is presently the largest solar energy provider in Singapore, boasting a portfolio of 727MWp.