India headquartered multinational Reliance Industries, through its subsidiary Reliance New Energy Solar Limited, yesterday announced the acquisition of Norway headquartered module manufacturer REC Group. The move comes as Reliance pushes forward with its US$10 billion plan to move in on the renewable energy industry, having also this week announced acquisition of a 40% share in EPC provider Sterling & Wilson.
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.
There’s talking the talk, there’s walking the walk, and then there’s walking the walk on water. Earlier this year at US President Joe Biden’s Virtual Leaders Summit on Climate, Singaporean Prime Minister Lee Hsien Loong said the city-state would need to “innovate and use technology extensively” to overcome its resource scarcity. With one of the world’s largest floating PV arrays now in operation, it seems as if Singapore is floating in the right direction.
With this solar win, Sembcorp Industries’ renewables portfolio has swelled to over 3 GW in operation and under development across Singapore, China, and India.
The pan-Asian renewable energy development platform, owned by Australian investment bank Macquarie’s Green Investment Group (GIG), has acquired a majority stake in Hyderabad-based commercial solar developer Vibrant Energy.
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.
Mitesh Patel, Renewables Director-Asia, US-headquartered EPC player Black & Veatch, speaks to pv magazine about the key trends driving the solar market, especially in Southeast Asia, and strategies to improve the bankability of PV projects.
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.
Led by Indian developer Renew Power’s former CEO Parag Sharma, the joint venture by these global investors aims to install over 4 GW of utility-scale capacity across solar and wind projects.
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