Billionaire bets on renewables in biggest 2022 Philippine IPO
Philippine billionaire Enrique Razon made his fortune operating ports and running casinos. His next target is the country’s nascent renewables industry.
power
CCS will be key as Asia faces steep rise in coal power
Ageing coal-fired power is increasingly replaced by renewable energy generation in the US and Europe. However, transitioning away from thermal coal will be complex and slow for Asian nations, particularly India and China, which make up 70% of global coal demand and face a steep rise in power demand.
More multi-billion dollar renewable energy deals in India
JSW Group, one of India’s largest conglomerates, has announced plans to acquire Indian renewables company Mytrah Energy for $1.32 billion. This is hot on the heels of Shell completing its $1.55 billion acquisition of Indian renewable energy developer Sprng Energy from Actis Solenergi earlier this week.
Shell seals $1.55bn acquisition of Indian renewable energy group
Shell (LON:SHEL) has finalised its $1.55 billion acquisition of Indian renewable energy developer and operator Sprng Energy from Actis Solenergi. Significantly, the solar and wind power assets that Shell acquires through the deal will triple the oil and gas company’s renewable energy capacity in operation, it said on Tuesday.
TotalEnergies and Japan’s ENEOS seal solar power merger deal in Asia
France’s TotalEnergies and Japanese energy group ENEOS have received final merger clearance and have completed a joint venture agreement to develop 2 GW of onsite business-to-business (B2B) solar projects across Asia over the next five years.
Newly elected Philippines President eyes renewables and nuclear as LNG prices soar
Newly elected President Ferdinand Marcos Jr reiterated his support for more renewable energy, as well as nuclear power, and natural gas, in the Philippines, one of Southeast Asia’s fastest growing economies. The news comes as plans to import maiden liquefied natural gas (LNG) cargoes into the country have stuttered due to surging global prices.
AG&P to launch Philippines LNG terminal this year, eyes Asia expansion
AG&P aims to commission the Philippines' first liquefied natural gas (LNG) import terminal this December as part of the company’s strategy to operate five LNG regasification facilities across Asia by 2025.
Top LNG exporter Australia is told to keep more fuel at home
Australia should tighten measures to curb natural gas exports from one of the world’s biggest suppliers to avoid a domestic fuel crunch, according to the nation’s competition watchdog.
Nuclear and renewables to edge out LNG in South Korea
A potential resurgence in nuclear power combined with increasing renewable energy capacity could see less liquefied natural gas (LNG) fueled power projects built in South Korea than previously anticipated.
China to export $100bn in renewable energy technology in 2022, bright future ahead
China is continuing its rapid expansion into global new energy markets with exports of solar PV, wind turbines, and energy storage equipment, expected to be worth $100 billion this year, data from energy research firm Wood Mackenzie showed.
Russian nuclear giant eyes Vietnam wind power project
Russian nuclear giant Rosatom's wind power arm NovaWind has signed a deal for a 128MW wind power project in Vietnam. NovaWind and Vietnamese partner An Xuan Energy said a cooperation agreement might see the pair build a wind farm in the northwestern Son La province.
Coal plus renewables will shape energy transition in Asia as $2.9tn in power investment eyed
The coal plus renewables energy transition led by Asia Pacific’s largest growth markets – China and India – is gathering speed. Significantly, it is a lot cheaper than the natural gas plus renewables path followed by the EU and US to lower emissions.
Small-scale floating LNG power solutions set for Papua New Guinea
Twenty20 Energy will roll out its proprietary power island floating storage regasification and power solution at 12 locations across Papua New Guinea (PNG) on behalf of PAWA PNG. The solution will serve as a model for future nearshore power generation plants in coastal regions worldwide, reckons the Singapore-based firm.
India likely to fall short of 2030 renewable target, says GlobalData
India announced new renewable energy goals last year to increase non-fossil power capacity to 500 GW and meet 50% of the country’s electricity needs through renewables by 2030. However, after including large hydro under the definition of renewables, the country is likely to achieve its 2022 target but may miss out on the solar specific target, and subsequently fall short of the 2030 target, says GlobalData, a data and analytics company.
Thailand needs ‘shale’ gas moment as energy crisis deepens on PTTEP’s watch
Thailand’s upstream natural gas sector is struggling to reverse falling output due to bad planning and policy from the government, coupled with a seeming lack of innovation at PTT Exploration & Production (BKK:PTTEP), a state-backed company, that is taking increasing control of the country’s gas resources.
Pakistan faces deeper power crisis as LNG becomes too expensive
Pakistan is facing an escalation of its power crisis after it failed to agree a deal for natural gas supply next month.
Corio teams up with Vietnam’s FECON for offshore wind power
Corio Generation has signed a joint development agreement with FECON, a leading Vietnamese construction and infrastructure group, for a proposed 500 MW offshore windfarm in Ba Ria, Vung Tau province, Vietnam.
Japan to end financing of key coal projects under climate pledge
Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel.
Philippines closer to adding one of world’s top solar sites
Solar Philippines has taken a further step toward massively expanding the nation’s renewables capacity, including with one of the world’s top projects, as it aims to help meet rising energy demand and aid a shift away from coal.
First Gen Philippines LNG import terminal delayed, asks BW to delay FSRU delivery
First Gen’s Interim Offshore LNG Terminal project in the Philippines has been delayed and the company has asked BW Gas to delay the delivery of the floating storage and regasification unit (FSRU) BW Paris from Q1 2023 to end of Q2 or early Q3 2023.
New Australian government bolsters outlook for renewable energy
Australia's new Labor government has secured a majority in parliament. This is expected to provide a tailwind for renewable energy investment in Australia as the Labor party campaigned on a strong environmental agenda, under its Powering Australia plan.
First test for Australia’s new Government is an energy squeeze
Australia’s new government, elected with a promise to accelerate a shift away from fossil fuels, is holding talks with oil and gas giants to ease an energy squeeze that’s delivered a first major test.
Pakistan considers gas import deal with countries including Russia
Pakistan said it is considering to sign a liquefied natural gas (LNG) purchase agreement with various countries including Russia as it seeks to secure supply and ease a crippling shortage.
Spain’s BlueFloat eyes floating wind offshore Taiwan
Spain’s BlueFloat Energy plans to enter Taiwan’s third offshore wind market auction with a proposed 1GW-plus floating project.
Risks rise for Thai power sector as PTTEP struggles with gas supply challenges, warns Fitch
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) is facing significant gas supply challenges that pose further downside risks to the Southeast Asian nation’s gas power sector, warned Fitch Solutions.