Energy

Malaysia-based clean energy infrastructure developer, Solarvest Holdings Berhad, through its wholly-owned subsidiary, Atlantic Blue Sdn Bhd, has secured Brunei’s largest national solar project via a joint venture company, Seri Suria Power (B) Sdn Bhd, in partnership with Serikandi Oilfield Services Sdn Bhd and Khazanah Satu Sdn Bhd.

To address Southeast Asia’s growing energy demand and support local economies, the International Finance Corporation (IFC), a member of the World Bank Group, is providing a loan package of up to THB3,140 million (approximately $92 million) to Winchai Company Limited – a wholly-owned subsidiary of Sermsang Power Corporation Public Company Limited (SSP).

Hong Kong-based renewable energy (RE) specialist Clean Kinetics has announced it has raised S$4.3 million in a Series A funding round to drive its asset development and international expansion plans in the renewables infrastructure space.

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, has signed an agreement with ACEN, the listed energy company of the Ayala group, to sell a 25 percent minority stake in the San Miguel Bay offshore wind project in Camarines Sur subject to applicable regulatory approvals.

In a landmark move for regional energy cooperation, leading energy companies from Malaysia, Singapore, and Vietnam have signed a joint development agreement to explore the export of renewable electricity from Vietnam to Malaysia and Singapore.

Malaysia's energy and environmental solutions firm Malakoff Corporation Berhad has partnered premium vehicles manufacturer HICOM Automotive Manufacturers (Malaysia) Sdn. Bhd. for a solar project in the country.

VFlowTech, a Singapore-based energy storage solutions firm, has successfully raised $20.5 million in its latest funding round.

Malaysian clean energy solutions provider Gentari, through its wholly-owned subsidiary Gentari Renewables Sdn Bhd, has signed landmark Solar Power Purchase Agreements (PPA) with telecommunications company Telekom Malaysia (TM) to power six key TM facilities with solar energy.

DEG, the German development finance institution, the French development finance institution Proparco and Standard Chartered have announced an agreement to finance the development, construction and operation of the Saguling floating solar photovoltaic (PV) plant as part of Indonesia’s Just Energy Transition Partnership (JETP).

Inadequate investment in power grids is holding back developing countries in Asia and the Pacific from embracing the full benefits of an energy transition, including enhanced energy security, the creation of millions of green jobs, and the expansion of electricity access, the Asian Development Bank (ADB) said in its new report.