In a statement given to the Tadawul (Saudi Stock Exchange), the company announced that it has acquired gas-fired power generation assets with a capacity of 4.6 gigawatts, along with the water desalination assets with a capacity of 1.1 million cubic meters per day, related operations and maintenance companies from a subsidiary of the French-based entity.

“The acquisition follows an agreement signed between ACWA Power and Kahrabel FZE, a subsidiary of ENGIE, to acquire power and water assets in Kuwait and Bahrain for USD 693 million. The deal includes a 45% interest in both the Al-Ezzel and Al-Dur projects as well as a 30% holding in the Al-Hidd facility, all situated in Bahrain,” reported Arab News.

The arrangement also covers ENGIE’s interests in gas-fired power generation and water desalination assets in Bahrain. The Kuwait assets, which form part of the broader transaction perimeter, will be transferred following the completion of customary technical conditions. The Kuwait portfolio includes a 17.5% equity stake in Az Zour North IWPP (Independent Water and Power Plant/Project) as well as 50% ownership in Az Zour North Operations & Maintenance Co.

Marco Arcelli, ACWA Power’s CEO, commented, “The completion of the Bahrain-related phase of this larger acquisition marks a pivotal milestone for ACWA Power. It reinforces our position as a global leader in water desalination, significantly extends our footprint in the regional power generation market, and consolidates our presence in the attractive and dynamic Bahrain market, with Kuwait to follow. These fully operational assets, underpinned by secured offtake contracts, strengthen our financial position and enable us to continue providing safe and reliable power and water to local communities and industries across the region.”

“As for Kuwait assets, a few customary technical conditions are remaining, following which the transaction will be finalised,” the company added.

In December 2025, ACWA Power signed an agreement with Bahrain-based Bapco Energies to develop a solar power plant with a large-scale battery energy storage system in the Eastern Province of Saudi Arabia. Under the deal, both parties will work together to jointly develop a solar power plant with a projected generation capacity of up to 2.8GW over various phases. These acquisitions are seen as cornerstones of ACWA Power, fulfilling its broader objective of reaching USD 250 billion in assets under management by 2030.

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Recently, International Finance recognised TPI as the “Most Innovative Diverse Energy Business Company – Thailand – 2025.” The company follows a simple business philosophy: T-echnology, P-roduct, and I-nnovation, and this rule has been codified into the company’s efforts.

TPIPP has broadened its operational portfolio, extending beyond waste-to-energy (WTE) fuelled principally by municipal solid waste (MSW) to utilities (oil/NGV petrol stations/EV charging stations), solar farms and roofs, and Alternative Fuel Resources (AFR) based on municipal waste.

Power has become TPIPP’s largest revenue-generating division (c.90%). The energy produced here runs on highly diversified fuel, with most of it in the form of renewables, such as recycled waste heat (WH) captured from the cement plant of the parent company TPI Polene, WTE using municipal solid waste, and solar farms and roofs.

“After multiple years of experimentation and fine-tuning of processes, our WTE-MSW power plants have arrived at a highly profitable cost curve. The current focus of our technical and engineering ingenuity is on the conversion of our 150MW coal-fired power plant into 100% MSW. Once completed, it will be the first conversion of its kind and scale in Southeast Asia. By 2026, TPIPP will be 100% fossil-free and will expand its pool of carbon-related merits from the current level of 2.5 million tCO2eq T-VER certified credits and 3.1 million Renewable Energy Certificates (RECs),” the venture told International Finance.

The conversion of the 220MW coal-fired power plant is ongoing. The project has been divided into six phases, and TPIPP is now at the tail end of phase six, with a 2025-end targeted completion timeline. TPIPP aims to make its power generation completely coal-free by 2026.

“So far, the modification programme is going smoothly. We are confident that we will be successful, and this would classify TPIPP as avant-garde in the conversion of coal-fired power plants to MSW. It would be a feat, the first of its kind. The know-how and learning accumulated from the experience can make TPIPP a resource for other power generators currently operating coal-fired power plants in the region, especially in Southeast Asia,” TPIPP noted further.

TPIPP, which believes that coal-fired power plants need not become stranded assets amidst the global push towards ESG (environmental, social, and governance) and sustainability, continued, “Our solar power farms and roofs are cost-minimising programmes and also assist TPIPL in its strategic move towards Green Cement & Building Material Products. With solar power, TPIPL’s offtake from the national grid will be reduced, enhancing its green credentials.”

The issue of battery storage for the solar farms has been installed. This installation extends the solar power supply into the night, further reducing offtake from the main grid, apart from enhancing the green credentials of the cement and building materials produced. TPIPP, in April 2025, entered into a agreement with Jinko ESS (a globally leading PV module manufacturer and energy storage system integrator) to set up a 25MWh energy storage plant.

“Our Utilities division mainly supports TPIPL’s logistics and distribution capabilities. TPIPL is electrifying its logistics and distribution vehicles, and TPIPP’s petrol/NGV and EV charging stations are strategically located along the regular routes of TPIPL’s vehicles,” the business remarked.

Alternative fuel resources have become a natural extension of TPIPL’s MSW operations. One of the many moves TPIPL is pursuing to produce “Green Cement” and “Building Materials Products” is to substitute coal in its clinker production with MSW.

“These further drive increases in MSW. Currently, TPIPP processes close to 10,000 tons per day of raw waste. When the various programmes are completed, the daily drawdown of waste will rise to 14,000 tons per day. With our power plants and AFRs, TPIPP will be a significant contributor to addressing the ever-growing problem of household waste. This is another pathway where we contribute to the betterment of society,” the company said, continuing, “Because our daily intake of municipal waste is high and our power plants are in a single location, we can support the livelihoods of residents in many communities. Where landfills are becoming an issue, we also assist the local government by supporting the efforts of its indigents to gather garbage from which calorific values can be extracted. We now have documented cases showing the benefits we can bring to communities.”

TPIPP has also started the rollout of its two WTE-MSW capacities (c.10MW). One will be in Songkhla (south), with Mukdahan (northeast) being the other. Each project will use the municipal waste produced in the area, about 500 tons per day, thus eliminating the need to allocate space for a landfill. These projects will be completed in 2025 and 2026, respectively.

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B.Grimm, Thailand’s oldest German-Thai infrastructure developer founded in 1878, started as a manufacturer of European modern medicines for Siam in the reign of King Rama V. Since then, B.Grimm has grown from a venture business to a large-scale infrastructure developer. Today, B.Grimm is a conglomerate company with widely renowned expertise in building and industrial systems, healthcare, transportation, real estate, lifestyle, and emerging digital technologies; and now is also a country’s key player in the energy business.

The company ventured into the energy sector in the 1990s with B.Grimm Power as its strong investing arm and has been a listed public company limited since 2017.

B.Grimm Power is committed to creating value for society in the form of a “Sustainable Utility Solution Provider” by producing high-quality energy and a full range of services to fulfill the needs of its associates, business partners, and society at large. The company constantly applies world-class standards and procedures, growing in a sustainable way domestically and internationally.

B.Grimm Power is also working strenuously to expand its investment in renewable energy, including solar energy, hydropower, wind energy, and energy storage systems (ESS) which are primed to be the epicenter of future energy generations.

In 2019, B.Grimm Power successfully inaugurated the commercial operation of the largest solar power generation project in Southeast Asia in Tay Ninh, southwest Viet Nam, as well as the country’s largest single PPA installed capacity, 257 MW Phuyen TTP JSC, the latter of which was also awarded the Best Power Plant Project Developer – Solar, International Finance Awards 2019.

A new era for renewable energy development
In 2021, the B.Grimm Power-Energy China consortium brought a new era for renewable energy development in Thailand by successfully completing work at the world’s largest hydro-floating solar hybrid project at the Sirindhorn Dam for the Electricity Generating Authority of Thailand (EGAT).

The system shares various existing resources at the dam including transformers, transmission lines, and high voltage stations, thus making the operation cost-effective by translating into lower tariffs. It also helps to reduce greenhouse gas (CO2) emissions by about 47,000 tonnes per year.

“We are pleased and proud to be a part of the endeavor that brings a new era for renewable energy development in Thailand by integrating solar and hydroelectric power in a hybrid system,” according to Dr. Harald Link, President of B.Grimm Power.

Furthermore, B.Grimm Power is also committed to expediting its solar rooftop business in the country and overseas. By expanding the renewable energy business to cover solar rooftops and floating solar, B.Grimm Power can offer a distribution and maintenance model to customers in an integrated and effective manner in order to address environmental issues.

“The solar rooftop business model is in response to social and environmental needs as well as to help us to build long-term partnerships with customers. Today, the solar rooftop has made us more accessible and conveys a symbolic message for others to understand what it means to conduct business with compassion,” said Dr. Harald Link.

B.Grimm Power’s vision of “Empowering the world compassionately” has seen the company’s expansion accelerate into renewable energy with investments in solar, wind, and hydropower projects

Cambodia’s Ray Power Supply venture contributes to B.Grimm Power
Ray Power Supply Co., Ltd., a wholly-owned subsidiary of B.Grimm Solar Power 1 Co., Ltd., is a project company operating a 38MWp ground-mounted solar power facility in Banteay Meanchey Province, Cambodia. The project is a new addition to B.Grimm Power Public Company Limited’s power portfolio in 2020.

Ray Power Supply’s power plant successfully achieved commercial operation on 15 December 2020 and began supplying electricity to state-run utility Electricite Du Cambodge (EDC)’s grid under a 20-year power purchase agreement. This indeed marks the first solar energy project in Cambodia to secure a firm power supply guarantee from the government.

Despite the impact of COVID-19 pandemic and devastating floods in 2020, B.Grimm Power considered the development of this project as a great example of a diligent endeavor with a high degree of professionalism and perseverance of B.Grimm Power’s team spirit to overcome the various restrictions along the way.

In June 2022, the project successfully achieved a financial close of 15-year term financing from a syndicated group of Thai lenders consisting of KASIKORNBANK PLC, Export-Import Bank of Thailand, and Bangkok Bank PLC.

B.Grimm Power’s expanding solar power business is a concrete response to the adaptation of energy demand platforms as an increasing number of organizations, particularly international ones, is turning to renewable energy as a means to reduce carbon dioxide emissions. This scheme also aligns with B.Grimm Power’s goal to rapidly enhance clean energy in its generation portfolio as well as fulfilling its mission of “Empowering the world compassionately.”

Dr. Harald Link: Business must prosper together with society
Dr. Harald Link is the Chairman of B.Grimm and President of B.Grimm Power Public Co., Ltd. He is touted as one of Thailand’s foremost philanthropists. A good example is the B.Grimm Boworn Smart Village Project, a model village of sustainable development, covering a village, school, and temple in Aranyaprathet district, Sa Kaeo province.

Education is always at the forefront of Dr. Link’s agenda, and in his capacity as Chairman of the Princess Mother’s Charities Fund of Thailand, he provides nursing scholarships to nursing colleges throughout the country.

Dr. Link has also ensured that B.Grimm continues to support the Little Scientists’ House of Thailand, one of the most successful education projects under the auspices of HRH Princess Maha Chakri Sirindhorn Foundation. Since the project launched in 2010, it has been taught in more than 22,000 kindergarten schools throughout Thailand.

The natural environment is equally important. Apart from its reforestation projects, B.Grimm plays a leading role in supporting WWF-Thailand’s ambitious “Save the Tigers” conservation programme.

In his role as the Chairman of the Thailand Equestrian Federation, Dr. Link gives full financial support to Thailand National Team riders. His proudest achievement came when the Thai Polo & Equestrian Club was selected by the International Federation for Equestrian Sports (FEI) to host the FEI Asian Championships. Through his initiative, Thailand became the first country in Asia to host the Asian Championship. In 2021, with Dr. Link’s full support, Thailand made history by sending its first national equestrian team to the Tokyo Olympics.

There is no doubt that Dr. Harald Link embodies B.Grimm’s mission statement: “We remain committed to good governance and business responsibility for the economy, society, and the environment, with an important long-term goal to become a net-zero carbon emissions organization by 2050.”

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In this system, solar panels are fitted into the house along with the air source heat pump. The heat pump and panels work together along with the passive heating system. A network of pipes wrapped around in concrete will store heat in the summers. In winters, it will slowly release the heat.

According to a report on the BBC website, because of the heat pump and solar panels, energy bills have been reduced substantially. But a lot can still be done.

The family believes that they would like to have a battery storage facility where some of the solar energy can be stored. This energy will then be useful during the night. But because of the cost issue, they are unable to do this.

According to the data available in the government records, almost 85% of UK homes still use mains gas for heat. By doing this, it leaves them at the mercy of volatile international gas markets which then dictate pricing.

In the month of April, the energy price cap was raised by 54% and almost 22 million people’s bills were set to rise.

The post How people in UK are cutting heating bills appeared first on International Finance.

It is reported that Kenya currently records total hydropower capacity of 743 megawatts. Hydropower in the country has received a lot of attention since its independence, in addition to other renewable sources. In 2018, Kenya set an ambitious target to increase its share of renewable energy in its electricity mix by 2020, media reports said.

Last month, the Rural Electrification and Renewable Energy Corporation (REREC) partners with SAP Ariba to increase renewable energy distribution across the country. The partnership has led to the launch of Project Platinum. This partnership is expected to hugely benefit REREC in many ways. With that, RERC will be complying with one of Kenya’s official directive which states that all public companies must move to electronic platforms to make the most of advanced technologies.

For Africa, Kenya is spearheading the renewable energy sector with more than 70 percent of its electricity production sourced from geothermal energy.

Globally, nearly three-quarters of new electricity generation capacity built last year sources renewable energy. According to the International Renewable Energy Agency (IRENA), solar, wind, and other renewables cover more than one-third of the world’s power.

Francesco La Camera, director-general of Irena, told the media, “While the trajectory is positive, more is required to put global energy on a path with sustainable development and climate mitigation. At this challenging time, we are reminded of the importance of building resilience into our economies.”

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The European Bank for Reconstruction and Development (EBRD) agreed to invest up to $60 million in Infinity Energy. The funds will be used to finance renewable energy projects and other ventures including electricity distribution and electric vehicle charging stations in Egypt as well as Southern and Eastern Mediterrenean countries. 

The new joint venture will be called Infinity Power. Infinity Power will work on renewable energy projects to further boost sector development in Egypt and Africa. The projects will be set up in energy starved areas in Africa. 

Masdar Chief Executive Mohamed Al Ramah told the media that, “The establishment of Infinity Power will bolster the progress Egypt has made in renewable energy and catalyse further development in the region. We look forward to working with Infinity Energy to unlock opportunities to further Egypt’s renewable energy goals and extend energy access to those areas of Africa that are under-powered.” 

Egypt government plans to source 20 percent of its electricity from renewable energy by 2020 and 42 percent by 2025. The country has a potential to supply 53 percent of electricity from renewable energy by 2020, according to International Renewable Energy Agency (IRENA). 

Infinity Energy has already established itself as a large developer of renewables in Egypt. 

The company completed Egypt’s first large-scale solar power plant in 2018. Currently, it operates six solar plants with a total capacity of 235 megawatts, the media reports said.

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UOB has branches setup in most Southeast Asian countries. Its U-Solar programme was launched in Malaysia, with a potential roll out in Singapore later this year. UOB will also launch the solar programme in other Southeast Asian countries, such as Thailand and Indonesia in the future. 

The bank has conducted research with customers on the use of solar energy. It has observed that many of them consider the use of solar power to be costly. 

For that reason, U-Solar offers two solutions to help Malaysian companies purchase solar power with minimum upfront capital.  Companies can purchase a solar power system using UOB Malaysia’s green loan facility—or, apply for a two percent rebate under the Green Technology Financing Scheme 2.01. 

It also offers a zero percent interest installment plan on U-Solar’s online portal for homeowners. The plan is valid up to 36 months for the purchase of a solar system. 

UOB’s platform comprises packages from its Malaysian solar partners ERS Energy, PlusSolar and Solarvest. Corporates and homeowners can install solar panels at homes, factories, and offices with the help of those solar project developers.

According to local media reports, the bank will have different solar partners for each market. The bank, through its collaboration with solar companies will offer installation, commissioning, operations and after-sales service packages. In addition, UOB offers financial solutions and loans to fund capital requirements of solar companies. The financial solutions include sukuks, project loans, portfolio financing and cash management services.

UOB is also offering end-to-end contract-based financing solutions for engineering, procurement, and construction contractors. These solutions range from bid bonds to letters of credit issuance to performance guarantees to working capital facilities.

Wong Kim Choong, chief executive officer of UOB Malaysia, told the local media that, “Through our research and engagement with our customers, we observed that many of them think that using solar power requires intensive upfront capital and is costly to maintain. With U-Solar, we hope to help our customers better understand the benefits of using solar power and to address their concerns of costs by providing them with flexible repayment plans at competitive market rates.”

The post UOB to promote solar power among clients through U-Solar appeared first on International Finance.

IFC revealed in a statement that it will provide $84 million in financing while MIGA will offer $122 million in financial guarantees. The funds will help Egypt increase its clean energy production capacity, lower costs, and diversify the country’s energy mix.

IFC will also provide a loan up to $26 million while another $58 million will be used from IFC’s innovative syndications platform, the Managed Co-Lending Portfolio Program. Both World Bank members will also provide environmental and social guidance to help protect a migratory bird flyway.

Walid Labadi, IFC country manager in Egypt, Libya, and Yemen told the media that, “The wind farm will help lower the average cost of electricity generation in Egypt and boost private sector participation in this key sector, while sending a strong signal to the market about our commitment to the country’s renewable energy program.”

The West Bakr wind farm located in the Gulf of Suez is expected to produce over 1,000 gigawatt-hours per year which will power more than 350,000 Egyptian homes. The project will also help cut carbon emission by more than 550,000 tonnes annually.

The wind farm is a part of the Egyptian government’s plan to generate 20 percent of its energy demands through renewable energy sources by 2022.

Egypt is also currently building the world’s largest solar power plant. The Benban Solar Park will produce enough electricity to power one million homes in Egypt.

The post IFC and MIGA sign deal for 252MW Egyptian wind farm appeared first on International Finance.

According to a report released by the International Renewable Energy Agency (IRENA) titled ‘Renewable Power Generation Costs in 2018’, the cost of setting up solar PV projects in India has dropped the fastest – by about 80 per cent in India – when compared to China, Japan, US, and other European countries.

The analysis was done by taking into consideration eight major markets including China, France, Germany, India, Italy, Japan, UK, and the US and the time period of 2010-2018.

While the global average cost of installing utility-scale solar PV projects was $1210/kW, India bagged the cheapest solar energy producer title by doing it at a low cost of $793/kW in 2018.

China, which is still the largest producer of solar energy, has an average solar energy production cost of $879/kW.

In 2018, 94 Gigawatt of new solar PV capacity was added globally which accounts for 55 per cent of the total new renewable power generation capacity additions. China leads the way with 44 Gigawatt while India sits second in the list with nine Gigawatt.

According to another report by the Institute for Energy Economics and Financial Analysis (IEEFA), half of the world’s ten largest solar plants under construction are currently in India. China’s 1,547 megawatt (MW) Tengger Desert Solar Park is the world’s biggest.

The IEEFA report hails India for pioneering the concept of the ultra mega power plant (UMPP) in a single solar industrial park.

The Mint reported that India aims to set up 500 gigawatts (GW) of renewable energy capacity by 2030.

With India now the cheapest solar energy producer, India’s coal-based power plants are taking a hit.

The post India is the cheapest solar energy producer, beats China appeared first on International Finance.

The Saudi power company is also expected to enter into negotiations with Egypt’s Egyptian Electricity Transmission Company (EETC) after it submitted the lowest bid for a 200-megawatt solar power plant in Kom Ombo, Utilities Middle East reported. Egypt’s Ministry of Electricity seeks to produce 20 percent of the African country’s power from renewable energy sources by 2022.

Pakistani officials have said that ACWA Power is interested in investing around $4 billion in Pakistan’s renewable energy sector, according to the Business Recorder. Transmission losses are very high in Pakistan because power companies have to supply extremely far-flung areas. ACWA Power has operations in 10 countries in the Middle East and North Africa, southern Africa,  and southeast Asia.

Earlier in January,  Pakistan’s Information Minister Fawad Chaudhury had announced that ACWA Power will invest in Pakistan’s renewable energy sector. He made the announcement during a meeting with a visiting Saudi delegation. The Pakistan Board of Investment had then said that the country was expecting $15 billion in Saudi investments in the next three years.

 The deals with the Chinese companies were announced as part of the Belt and Road Forum for International Cooperation. ACWA Power signed a deal with a subsidiary of PowerChina to act as the EPC contractor for the Al Taweelah desalination plant in Abu Dhabi. The Saudi power company then signed a deal with CGGC, making CGGC the EPC contractor for Nam Dinh 1, a Greenfield independent power project (IPP) in Vietnam. The deal with Bank of China involves general financial services agreements for the Vietnam power project.

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