Page 15 - AsiaElec Week 41

AsiaElec NEWS IN BRIEF AsiaElec

Preeyanart Soontornwata: “This transaction
will support the development of clean and
sustainable energy in Vietnam and help
promote the green loan market in Southeast
Asia. This project is a further demonstration
of B.Grimm Power adopting international
best practices.”

German company scores

$9m solar pump order in

Bangladesh

Germany’s Raach Solar and a Bangladeshi
partner have secured two tenders worth a total
$9mn to install 705 solar-powered irrigation
pumps in the north-western Bogra district of
the South Asian nation.
The program is being carried out by Raach
with the Power Utility Bangladesh Ltd energy
“Chinese developers ordered more than 2 participating in a $186mn loan for a solar unit of the Dhaka-based, plastics-to-banking
GW of offshore turbine capacity for the sixth plant in Vietnam, in a deal which features Bengal Group of Industries conglomerate.
consecutive quarter, with Envision capturing the first green B loan in Asia. The financing The pumps will be financed by an Asian
66% of Q2 demand in China. comprises a $27.9mn loan funded by ADB, Development Bank (ADB) grant under the
“SGRE and MHI Vestas each landed more and a $148.8mn syndicated loan (B loan) development lender’s power system efficiency
than a gigawatt of orders in Europe for new funded by commercial banks with ADB as improvement project.
offshore turbine models rated over 10 MW. lender of record, plus a $9.3mn loan from The pumps were proposed by the
“This flurry of orders for 10 MW+ turbines Leading Asia’s Private Sector Infrastructure Bangladesh Rural Electrification Board
in Q2 helped to lift the average rating of global Fund (LEAP). and the contract awards ratified by the
offshore orders to 7.5 MW. Participating banks in the green B loan, government’s cabinet committee on
“Developers continue to seek higher-rated which is to be certified by the Climate Bonds procurement this week.
onshore models to maximise site constraints, Initiative, include Bangkok Bank, Kasikorn The government plans to replace 1.34mn
with SGRE Vestas and Nordex capturing Bank, Kiatnakin Bank, Industrial and diesel irrigation pumps which consume
all demand in Q2 for onshore models rated Commercial Bank of China, and Standard around $1bn worth of imported fuel annually
5 MW or higher,” said Luke Lewandowski, Chartered Bank. as well as using solar to displace 365,000
Wood Mackenzie Research Director. The borrower is Phu Yen JSC, which is electric pumps which currently draw down
SGRE edged ahead of Vestas for owned by B.Grimm Power Public Company almost 2 GW of grid power during summer.
announced global wind turbine order intake Limited and Truong Thanh Viet Nam Group The nation’s net-metering regime means
in Q2, for both onshore and offshore, reaching Joint Stock Company (TTVN). The loan solar-powered pumps can supply any surplus
4.1 GW. agreement was signed on October 9. electricity generated to the grid and the
“Although SGRE topped the list for overall The 257-megawatt solar power plant is national Sustainable and Renewable Energy
global turbine order intake, Vestas’ V150- located in Phu Yen Province. The project is the Development Authority (SREDA) recently
4.2 won top onshore model for consecutive largest single operating solar power plant in published guidelines for the grid integration
quarters after a particularly strong Q2 in Asia Vietnam and one of the largest in Southeast of solar irrigation pumps.
Pacific excluding China. Asia. It will help to reduce 123,000 tonnes of With Bangladesh already hosting
“In the offshore sector, Envision’s carbon dioxide annually. The power plant will 1,950 solar pumps, with a total generation
impressive haul in Q2 for its EN-161 5.2 deliver electricity to Quang Ngai and Nha capacity of almost 47 MW, state financier
model led to the company taking top spot for Trang cities, as well as surrounding areas in the Infrastructure Development Company
Q2, coming in slightly ahead of SGRE,” added a region that is emerging as one of Vietnam’s Limited (IDCOL) wants 50,000 systems by
Lewandowski. key tourist centres. 2025, and had approved overseas development
WOOD MACKENZIE “This project will support the rapid funding for 1,630 pumps up to October last
development of solar power capacity in year. Donor organisations have included the
Vietnam, advance the country’s low-carbon World Bank, German development lender
SOL AR growth goals, and, we hope, catalyze further KfW, the Japan International Cooperation
commercial bank financing for renewable Agency, and USAID, alongside the ADB.
ADB leads $186mn financing energy,” says JackiecSurtani, infrastructure
finance division director for East Asia,
for Vietnam solar plant Southeast Asia and the Pacific at ADB’s
Private Sector Operations Department,
The Asian Development Bank (ADB) is Comments B.Grimm Power president

Week 41 14•October•2020 www. NEWSBASE .com P15