Sunseap has also signed an agreement with BP Batam, the local investment and developmental authority to develop this project. The floating solar farm will generate more than 2,600 gigawatt-hours of electricity per year, which is likely to produce around 1.8 million metric tons of carbon per year. This is equal to taking around 400,000 cars off the road a year.

The company released a statement saying, “With a volume of 101.2 million cubic meters, it supports more than 50 percent of the freshwater supply to Batam Island.

“The floating solar panels will help to reduce evaporation, thereby retaining more water within the reservoir. Simultaneously, the water will keep the solar panels cool, thereby generating more clean energy and creating a synergistic relationship.”

The energy generated and stored will be used to supply energy round the clock. Some of this energy will be consumed on Batam while the rest could be exported to Singapore approximately 50 kilometers away using a subsea cable. The energy company is also planning to set up an academy in Batam to support the hiring and transferring of skills to more than 3,000 locals to be involved in the project.

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BVG Associates have prepared a roadmap that analyses two possible growth scenarios for Vietnam’s offshore wind industry. The ‘low growth’ scenario will result in offshore wind contributing to just 5 percent of Vietnam’s energy mix, whereas, the ‘high growth’ scenario will result in offshore wind contributing to around 12 percent of Vietnam’s total electricity capacity.

BVG Associates director Neil Douglas told the media, “Vietnam’s economy and carbon emissions will benefit significantly from the development of an offshore wind sector. Our experience in developed offshore wind markets is that ambitious, long-term targets serve as cornerstones for cost reduction and industry development.”

In April, it was reported that Sweden and Vietnam have expanded their energy cooperation and will further focus on sustainable energy development. Ann Mawe, Swedish Ambassador to Vietnam said in an interview that both Sweden and Vietnam have conducted regular seminars to offer chances for major energy firms, in addition to stepping cooperation at the governmental level.

Vietnam is set to double the use of renewable energy in the county by the end of this decade. The country is also planning to cut carbon emissions by 15 percent during the period by reducing the usage of coal. By the end of 2045, the country plans to cut emissions by 20 percent.

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Previously, AC Energy Philippines revealed that the solar farm in Arayat will be a joint venture with Citicore Renewable Energy Corp and that it would have a capacity of up to 75 megawatts.

The company also plans to invest in other renewable energy projects in the Philippines. AC Energy Philippines also cleared 70 percent of financing for the P7.48 billion wind farm project in Pagudpud, Ilocos Norte. In line with the Philippines clean energy vision, the company is planning to add 500 MW of clean energy next year. AC Energy Philippines plans to exceed 5 GW of attributable capacity and generate at least 50 percent of energy from renewables by 2025.

The Philippines is set to reduce its carbon footprint and add 34,000 megawatts of renewable energy to its energy mix by 2040. At the virtual Southeast Asian Nations Clean Energy Week, Energy Secretary Alfonso G. Cusi declared the country’s National Renewable Energy Plan (NREP).

He told the media, “Coal and oil shares will also continue to decrease due to the use of alternative fuels for transport, among others. This also translates to a power generation mix that shifts from being coal–centered to one where renewable energy, natural gas, and other emerging clean energy technologies will have increased shares.”

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He told the media, “Coal and oil shares will also continue to decrease due to the use of alternative fuels for transport, among others. This also translates to a power generation mix that shifts from being coal–centered to one where renewable energy, natural gas, and other emerging clean energy technologies will have increased shares.”

“Under the clean energy or low carbon scenario envisioned by the Philippine government for the future, there will be a slower growth of total primary energy supply (TPES), as a result of the country’s energy efficiency and conservation measures. We are also pushing for the transition from fossil fuel-based technology utilisation to cleaner energy sources to ensure more sustainable growth for the country.”

Currently, coal is the dominant source of energy in the Philippines, accounting for over 41 percent of the country’s total energy, while renewable energy such as hydropower and solar account for just 29 percent of its energy mix. That said, natural gas accounts for 13.5 percent of the total energy.

It is reported that French independent power producer (IPP) Total Eren is set to build 135 MWp of solar farms in Luzon, Philippines. In order to do so, the energy company is partnering with Manila-based Mabalacat Solar Philippines Inc and Singapore-based Sindicatum Renewable Energy. Eren will develop two photovoltaic (PV) projects in the Luzon provinces of Tarlac and Zambales.

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The plants, named Tarlac and Zambales, are located in the Tarlac and Zambales Provinces in the northern Philippines. Both plants will have a combined power capacity of 135 MWp. The project is expected to create local employment in the provinces and lead to sustainable growth.

Fabienne Demol, Executive Vice President – Global Head of Business Development of Total Eren, told the media, “we are delighted to have secured our first projects in the Philippines alongside Mabalacat Solar Philippines and Sindicatum Renewable Energy. I am enthusiastic about the prospects of the Philippines economy and the decarbonisation underway in its energy sector, in which Total Eren wants to take an active role. We look forward to delivering these first two solar projects and are committed to the development of a larger portfolio of renewable energy projects in the country.”

Philippines’ Energy Secretary Alfonso Cusi recently announced the decision to halt coal exploration in the country. He also added that the Philippines is seeking alternative energy sources. Currently, coal is the dominant source of energy in the Philippines, accounting for over 41 percent of the country’s total energy, while renewable energy such as hydropower and solar account for just 29 percent of its energy mix. That said, natural gas accounts for 13.5 percent of the total energy.

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The transaction is expected to be completed during the first quarter of 2021.Dam Nai Wind, which is located in the Ninh Thuan province approximately 350 km north of Ho Chi Minh City, was constructed in two phases. The first phase reached commercial operations in October 2017, while Phase II reached commercial operations in December 2018. The wind farm covers an area of approximately 133,000 square metres at 10 metres above sea level.

Leading pure-play renewable energy company Mainstream Renewable Power signed an agreement with Vietnamese company Advance Information Technologies Corporation earlier this month. According to the agreement, both parties will co-develop a 500MW offshore wind farm off the coast of Ben Tre province in Vietnam.

Mainstream Asia Pacific chief executive Ram Natarajan told the media, “Mainstream recognises the great potential of offshore wind in Vietnam as well as the ambition of the Vietnamese Government to develop a sustainable green economy. Mainstream is delighted to be working with a strong and reliable partner in AIT to develop the Ben Tre project to the best international standards, supplying much needed renewable energy capacity to the country’s fast-growing economy.

“The JV has the potential to expand and will also look to develop further wind and solar projects in Vietnam in the near future.”

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According to the Vietnamese government, renewable energy sources such as solar and wind will contribute 15 to 20 percent of the country’s total energy generation by the end of 2030. Currently, Vietnam produces around 10 percent of its energy from renewable sources.

It is reported that by doing so, Vietnam will be able to implement the 2015 Paris climate accord, in which it pledged to cut greenhouse gas emissions on its own by 8 percent, or 25 percent with foreign aid, by 2030.

To cut emissions, countries must get rid of coal-fired plants which still remain the primary source of energy in many developing countries including Vietnam. Said that, Vietnam provides opportunities for alternative energy sources and the country is tapping into them.

Vietnam will tap into 10GW of offshore wind energy by 2030, according to an assessment carried out by the World Bank and Danish Energy Agency, media reports said. The findings were presented to the Vietnamese government to develop an offshore wind sector in Vietnam.

The assessment also found out that Vietnam has an estimated potential of 160GW offshore wind energy within 5 km and 100 km from shore.

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The assessment also found out that Vietnam has an estimated potential of 160GW offshore wind energy within 5 km and 100 km from shore.

In this context, Ministry of Industry and Trade director general of electricity and renewable energy Hoang Tien Dung told the media, “The government of Vietnam is always committed to the development of a sustainable energy sector and the timing now is very critical with our national Power Development Plan 8 preparation by the Ministry of Trade and Industry being underway.

“We, therefore, highly appreciate advice and recommendations from Denmark and the World Bank, our long term partners who have possessed many years of experience and knowledge in renewable energy ahead of us.”

The two organisations have also made several recommendations to the Vietnamese government, which they will take into consideration.

Recently, GE Renewable Energy secured contracts to supply a total of 12 units of GE’s 5MW-158 Cypress wind turbines to support construction of the Quoc Vinh Soc Trang and Lac Hoa Soc Trang wind farms, located in the Mekong Delta, Vietnam.

Vietnam will soon unveil its Power Development Master Plan 8 (PDP 8) for the next decade. The PDP is expected to provide a roadmap to end Vietnam’s reliance on carbonised energy sources and move toward renewable energy and liquefied natural gas (LNG) as its primary source of energy.

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Gulf Energy acquired the wind farms from Dien Xanh Gia Lai Investment Energy (DGI).

According to the energy major, it entered into a share purchase agreement with Dien Xanh Gia Lai Investment Energy Joint Stock Co (DGI), the developer and operator of the two onshore wind farm projects, each with a capacity of 50 megawatts.

Both the farms will generate and sell electricity to Vietnam Electricity for the next 20 years. The development of these farms is expected to begin in 2021.

The projects, located in Ia Grai district of Gia Lai province, will be held by wholly-owned Gulf International Holding Pte (GIH) with a licence to develop and operate the wind farms.

According to its chief executive officer Sarath Ratanavadi, the company will make further acquisitions across Asia and Europe.

He said, “We’re looking for operative assets because they will quickly pay back investment returns, and at least one other asset acquisition will be announced this year.”

Recently, Gulf Energy also acquired Germany’s Borkum Riffgrund 2 (BKR2) offshore wind farm, worth more than ฿19 billion, the company revealed in a stock exchange filing.

Gulf Energy acquired Global Infrastructure Partners’ entire shareholding in Frankfurt-based Borkum Riffgrund 2 Investor Holding GmbH, entailing 50 percent of shares in Borkum Riffgrund 2 Offshore Wind Farm GmbH & Co Ohg, which co-operates the wind farm with the other shareholder.

According to Gulf executive director and chief financial officer Yupapin Wangviwat, the agreement came into effect in July 3.

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The green loan acquired by LYS Energy will be used to expand its operations across the region and also finance its solar energy assets.

The loan was issued under the UOB’s Green Infrastructure Framework as part of the bank’s U-solar program.

With regard to the green loan acquired from United Overseas Bank, Lionel Steinitz, founder and chief executive officer of LYS Energy Group told the media, “Through our U-Solar programme, UOB has been working actively with our clients, including LYS Energy Group, to accelerate the use of solar energy in Singapore and across the region.”

“The COVID-19 pandemic, with its sudden outbreak and its ferocity, forces us to realise how fragile we as human beings are. While the sanitary crisis and climate change are two separate problems, I trust that the post-pandemic era will open on the observation that our environment is also very delicate and require a subtle balance with global economic activity.”

“Following the entry of the French Sovereign Wealth Fund in our group (Banque Publique d’Investissement or BPIfrance), this green loan marks another important milestone for LYS Energy in our journey to bolster the adoption of a low-carbon energy path in Singapore and Southeast Asia.”

Established in 2012, the energy company owns and operates solar PV systems for commercial, industrial and public sites in the region.

So far, the company has deployed over 50MWp of solar PV systems, with a pipeline of over 500MWp in Singapore and across the region in Vietnam, Indonesia, Malaysia, Thailand, and the Philippines.

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