Singapore-based commercial and industrial solar developer Cleantech Solar has secured a US$75 million in green finance from ING Bank, the Asia Pacific’s largest ever C&I solar green loan. As the world’s fastest growing electricity market, South East Asia is crying out for this kind of investment.
UAC Energy Holdings, a joint venture of Ayala’s AC Energy and Hong Kong-based UPC Renewables Group, said it would offer $777 million to buy Infigen Energy, one of Australia’s most prominent renewables companies.
Okra Solar, the Aussie startup we last saw delivering solar mini-grids to remote communities via a shared ping-pong table, is emerging from Covid-19 lockdown with new investors and two new pieces of tech that will better enable solar energy access to the 900 million people around the world still lacking power.
The Philippines is desperately hungry for rooftop solar PV as it seeks to alleviate itself of energy poverty. Pathways are finally opening up for the vast Southeast Asian nation with investors readying US$20 million to fund four new renewable projects.
Meet Afnan Hannan, CEO and co-founder of Okra Solar, an Aussie startup looking to eradicate energy poverty using solar minigrids that has already been recognised with a global sustainability award and a best IoT startup award.
An EU funded solar-plus-storage project has been tendered in the Philippines. The United Nations is seeking bids for the system to support the seaweed industry on the island of Tawi-Tawi. Combining PV with aquaculture brings many advantages for both, including water conservation, a more controlled aquatic environment, and ecosystem restoration.
From four to 24 hours: before solar and storage, the 160 households on a Philippine had electricity for only four hours each day. This had negative impacts on the economic development of the islands. With support from the ADB, the island inhabitants now have 24 hour supply of clean energy, and new billing methods that suit the economic realities of poorer households.
The Philippines’ Energy Regulatory Commission (ERC) has said the removal of the 100 kW cap for solar installations under net metering would be difficult for the nation’s grid to accomodate. Meanwhile, a proposal to raise the treshhold is being discussed in the country’s Senate.
The 10 members of the Association of Southeast Asian Nations (ASEAN) are on track to make solar and other renewables account for 23% of the region’s total primary energy supply (TPES) by 2025, but governments will need to create better policy and investment frameworks to make it happen, according to the International Renewable Energy Agency (IRENA).
Australian stock exchange-listed battery maker Redflow has announced a AU$14.5 million ($11.25 million) funding round, as the Brisbane-based company takes its manufacturing base offshore and turns its attention to a market “sweet-spot” including the off-grid, telecom, commercial and industrial sectors.
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