Page 13 - AsiaElec Week 25

AsiaElec NEWS IN BRIEF AsiaElec

SOL AR media reported that a Thai investor acquired ivant Energy Corporation announced
solar power projects in southeastern Binh yesterday that had awarded two new contracts
ING Bank lends $75mn for Phuoc province. to a Malaysian solar energy system specialist.
Vivant Energy chose Solarvest to undertake
Binh Phuoc borders Cambodia’s Tbong
rooftop solar Khmum, Kratie and Mondulkiri provinces. the engineering, procurement, construction
The reports said Thailand’s Super Energy
and commissioning works of the development
Singapore-based pan-Asian solar developer Corp Pcl (Super Energy) had announced that of solar PV systems at 10 designated buildings,
Cleantech Solar has secured the Asia Pacific’s it had acquired the Loc Ninh 1, 2, 3, 4 solar with cumulative capacity of 816.2-kilowatt
biggest ever green loan for commercial and power projects in Binh Phuoc after purchasing peak (kWp), at the University San Agustin in
industrial (C&I) rooftop solar projects after shares from intermediary companies for a Iloilo City, which is currently ongoing.
ING Bank approved US$75mn in financing. cumulative $456.7mn. The second solar project awarded to
The International Energy Agency Of the amount, $99.7mn was invested in Solarvest is the development of the 377.52
(IEA), Southeast Asia’s (SE Asia) electricity the Loc Ninh 1 solar power project, $140mn kWp solar PV systems for Bulihan Industrial
consumption will double by 2040; its 4% in the Loc Ninh 2, $105mn in the Loc Ninh 3 Park located in Bulacan. Vivant Energy is a
growth rate is twice as fast the rest of the and $112mn in the Loc Ninh 4. fully owned subsidiary of Vivant Corporation
world. Currently, the levels of investment Before investing in the four solar power and manages the parent company’s investment
in SE Asia are more than 50% lower than projects, Super Energy owned six other solar in energy distribution and generation,
what would be required in the Sustainable power projects in Vietnam. As of March, the retail electricity supply and energy-related
Development Scenario. Thus, the IEA notes, six projects alone had a total capacity of up engineering solutions in Luzon, Visayas and
the region is in critical need of private sources to 286.72MW, half the total capacity of Super Mindanao.
of investment. Energy’s 100 solar power projects in Thailand. “We’re glad to have Solarvest as our
From its base in Singapore, Cleantech Solar Super Energy’s power projects in Vietnam partner in providing solutions that power
has been spreading C&I solar investment have had a return on investment (EIRR) of the success of our customers. We choose
and development throughout the region for 12-13 per cent while the Loc Ninh 1,2,3,4 partners based on a shared commitment in
the past five years, including installations in solar power projects have much higher EIRR providing innovative, diverse and customer-
India, Cambodia, Malaysia, Thailand, the between from 16.59 per cent to 17.4 per cent. focused energy solutions that will enable
Philippines, Vietnam and Singapore. The Thai investor has also purchased shares our customers to turn challenges into
With key investors such as Shell, Climate in a series of other solar projects in other opportunities in our changing world,” said
Fund Managers, and now with significant provinces, including Ninh Thuan and An Vivant Energy COO Emil Andre M. Garcia.
financial support from ING, Cleantech Solar Giang and shares in four wind power projects Vivant Energy combines existing and
is honing in on its ambition to build over in Bac Lieu, Soc Trang, Phu Yen and Gia Lai emerging technologies to develop energy
500MW of solar power projects. SE Asia cried provinces. solutions for industries and institutions. While
out for private investment, and investment fulfilling its mission, the company has become
comes running. a major player in the SPUG market, providing
ING’s Lead for Renewables and Power Philippines’ Vivant Energy reliable and stable energy that powers
Asia Pacific, Adrian Lian, said that the industries and communities in several off-grid
international financier is “thrilled to have awards 2 new contracts to areas in the Philippines.
combined Cleantech Solar’s strengths with
ING’s renewables expertise to arrange a Malaysian solar firm
specially structured solution to support their
business.”
Jasmine Choo, Cleantech Solar’s Chief
Operating Officer, spoke to the resounding
endorsement ING’s investment provides to
Cleantech’s portfolio and C&I solar expertise.
“This will enable us to accelerate our portfolio
expansion in the region to benefit even more
customers with a compelling solution for their
clean energy needs,” Choo said.

Vietnam PM wants to

manage solar projects

Vietnamese Prime Minister Nguyen Xuan
Phuc has requested the Ministry of Planning
and Investment (MPI) propose suitable
management solutions for solar power
projects to ensure national security.
The Government Office released the
directive to the MPI, the Ministry of Industry
and Trade and relevant agencies after local

Week 25 24•June•2020 www. NEWSBASE .com P13