Page 14 - AsiaElec Week 26 2021

AsiaElec NEWS IN BRIEF AsiaElec

Zarubezhneft and DEME, with other potential value-oriented energy and infrastructure to acquire a 28 MWac (35 MWdc) Solar PV
investors also obtaining permits for proposed company in Thailand and the Asia-Pacific project for a total consideration of $36m.
sites. region. The Trung Son Solar PV project is located
Earlier this year, four memoranda of The transaction is expected to close before in the Khanh Hoa Province, Vietnam, and is
understanding were signed for the 3.5GW La the end of the Japanese fiscal year ending in operation since Dec-2020. The project has a
Gan offshore wind farm, also qualifying for March 2022, subject to the completion of Power Purchase Agreement (PPA) signed with
inclusion into the master plan, for the supply certain conditions, including PLN consent, Vietnam Electricity (EVN) under a 20-year
of wind turbine foundations and harbour financing party consent, and RATCH Feed-in Tariff (FiT).
services. shareholder approval. Vietnam is one of the fastest growing
Mitsui said that following the completion economies in Southeast Asia with power
of the transaction it will record a profit, demand increasing at c. 10% p.a. Thermal
though at present it is unable to calculate represents c. 50% of the capacity mix and
COAL-FIRED GENERATION it due to customary price adjustment energy dependence has increased significantly
mechanisms and other factors. with net imports currently at c. 30% of total
Mitsui & Co to sell stake part of Mitsui’s ongoing strategy to recycle energy demand.
The transaction is being implemented as
With the objective of increasing the
in Indonesian coal-fired its business portfolio. Last year the company weight of Renewable Energy Systems (RES)
announced that it would exit coal-fired power
in the energy mix, and leveraging on its
plants generation by 2030. strong fundamentals for both wind and solar,
Vietnam has set ambitious RES growth targets
Paiton has another Japanese shareholder,
Mitsui & Co has signed an agreement with Jera, which is a joint venture between Tokyo in its Power Development Planning VIII
RH International (Singapore) Corporation Electric Power and Chubu Electric Power. (“PDP 8”) aiming to reach 30% of capacity
(RHIS), a wholly owned subsidiary of RATCH from RES by 2025 and 37 GW of Wind and
Group Public Company Limited (RATCH), Solar PV installed capacity by 2030, implying
for the sale of its stake in the coal-fired Paiton Wind and Solar PV capacity additions of
plants in Indonesia. SOL AR 28 GW until 2030. Growth in RES is being
The disposal is in line with Mitsui’s plan to supported by a 20-year FiT scheme under
sell its remaining stakes in coal-fired power EDPR enters Vietnam with a a stable regulatory framework while in the
stations by the 2030. Paiton Energy operates upcoming years growth is expected to be
several units at Paiton totalling 2,045MW. 28 MWac Solar PV project based on auctions and on the growing private
Mitsui will sell all of its 45.515% holding PPA market.
in PT Paiton Energy (Indonesia), and two Portugal’s EDPR has reached an agreement The entry in Vietnam is within the
entities in the Netherlands and Singapore with Trina Solar to acquire the Solar PV context of EDPR Business plan 2021-25
related to the business, to RHIS. project for a total consideration of $36m. and represents a first step towards the
PT Paiton Energy owns and operates The entry in Vietnam is within the establishment of EDPR’s presence in Asia,
coal-fired thermal power plants in Indonesia, context of EDPR Business plan 2021-25 in which EDPR expects to invest part of the
which have a long-term power purchase and represents a first step towards the c.5% allocated to other geographies within
agreement with PT Perusahaan Listrik Negara establishment of EDPR’s presence in Asia. the 20 GW growth plan until 2025, providing
(Persero) (PLN), the Indonesian national EDPR, the fourth largest renewable diversification and growth optionality and
electricity power company. energy producer in the world, has reached an further reinforcing EDPR’s worldwide leading
RATCH, a public company listed on the agreement with Trina Solar, the world leading position in renewables.
Stock Exchange of Thailand, is a leading PV and smart energy total solution provider,

P14 www. NEWSBASE .com Week 26 30•June•2021