New PV capacity additions in Southeast Asia are expected to bounce back this year for the first time since 2020, according to the Asian Photovoltaic Industry Association. The market is expected to grow by 13% in 2023, for 3.8 GW of new installations.
ACEN Corp., the renewable energy arm of Filipino conglomerate Ayala Corp., will deploy $250 million equity plus related performance guarantees to support US-based BrightNight’s existing hybrid renewable energy portfolio and future growth in India.
The 40MW/60MWh Alaminos Energy Storage system is now connected to the 120MW Alaminos solar park. Both facilities were built by renewable energy developer AC Energy.
Philippines-based AC Energy and Hong Kong-headquartered UPC Renewables’ solar energy arm are jointly building a 300 MWac (420 MWp) solar farm in Madhya Pradesh. The plant, when completed, will be the joint venture’s third and largest solar project in India to date.
To achieve its sustainability targets, Southeast Asia will require integrated strategy and execution across generation, transmission, and distribution, as well as planning that balances both capital and operational expenditures. The regional power industry will need partners who can merge data analytics with engineering expertise to deliver timely and actionable insights that realize the full potential of assets and facilities.
UPC-AC Energy Solar has closed a debt-to-equity financing deal with the US International Development Finance Corporation (DFC) to develop a 100 MW PV project in Rajasthan.
Southeast Asia, when taken as a whole, is a global laggard in the uptake of renewable energy, but some countries are leading the way, such as Vietnam, the Philippines, and Myanmar. And as ‘Angry Clean Energy Guy’ Assaad W. Razzouk argues, policymakers in the region cannot hold back the tide of solar and wind for much longer.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
The contract, for mono PERC solar modules, follows 165 MW of orders supplied by Risen to Indian renewable energy developer Sprng Energy last month.
The commercial and industrial solar developer, which commands a significant share in the Indian market, will use the amount to fund rooftop PV installations for corporates across Southeast Asia.
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