Page 14 - AsiaElec Week 15

AsiaElec
NEWS IN BRIEF
AsiaElec
health consequences,” the environmental groups from South Korea, Indonesia and other countries wrote in a joint letter submitted April 8 to the South Korean Ministry of Economy and Finance.
They said Doosan’s financial woes were not directly caused by the COVID-19 pandemic. They noted that, between 2010 and 2019, Doosan’s credit rating dropped from A+ to BBB and its share price declined by 93% — “well before COVID-19 was an apparent crisis,” they wrote.
RENEWABES
Toyota-led consortium to
launch renewable energy
project in Japan
Toyota Motor Corporation plans to invest in renewable energy projects in Japan in a bid to establish a ‘low carbon society’.
The automotive manufacturer has reached an agreement with Chubu Electric Power and Toyota Tsusho Corporation to set up
the Toyota Green Energy LLP – a renewable energy plant in Nagoya City.
The venture aims to reduce carbon dioxide emissions to zero and provide renewable electricity to the Toyota Group in the future.
The project is part of the Toyota Environmental Challenge 2050 and is expected to launch in July this year.
Toyota Motor Corporation has a 50% investment share in the plant, whereas Chubu Electric Power and Toyota Tsusho Corporation’s respective investment will be 40% and 10%.
RENEWABLES
Total forms joint venture with Adani Group to target India’s renewable energy market
Total has invested more than INR37bn ($487mn) to form a renewable power joint venture with India’s Adani Group. The deal, finalised Tuesday, splits the ownership 50-50 between Total and the Indian conglomerate’s Adani Green Energy unit.
The French company is pursuing clean energy amid the global push toward lower carbon dioxide emissions. Despite India’s current nationwide lockdown, Total sees
P14
demand for renewables growing in the long run as the government tackles air pollution. The joint venture takes over Adani’s solar
projects, which span 11 Indian states and field a total power generating capacity of roughly 2GW. Through the partnership with Total, Adani plans to expand all renewable energy capacity, including solar, to 25GW by 2025.
The Indian government seeks to double renewable energy output to 175GW in 2022, up from 86GW as of November 2019. New Delhi targets capacity of 450GW in the long term, focusing on solar energy.
Vietnam’s Ninh Thu?n to
facilitate renewable energy
projects
Vietnam’s province of Ninh Thu?n will help investors speed up the implementation of renewable energy projects, with the goal of having 2,000MW of solar power and more than 60MW of wind power connected to the grid by the end of this year, chairman of the provincial People’s Committee L?u Xuân V?nh said.
Initially, the committee requested relevant departments and sectors to assist Trung Nam Group in completing procedures so that the enterprise can start construction of a 450MW solar power plant in Ph??c Minh Commune this month, the chairman said.
The Thu?n Nam solar power plant,
slated for completion in the fourth quarter of this year. Once operational, the plant will be the largest of its kind in Vi?t Nam and Southeast Asia as well.
The company will also build a 500kV substation and install 500kV and 220kV transmission lines to connect the plant with the national grid, chinhphu.vn reported.
In order to facilitate investors, local authorities will continue speeding up administrative reforms to slash time and costs for the firms in fulfilling relevant procedures as well as ensure adequate personnel for the enterprises which are investing in solar and wind power projects in the province.
Ninh Thu?n aims to become the renewable energy centre of the country.
The province has a high level of sunshine hours (2,467) per year and solar radiation per square metre (1,700kWh), making it ideal for solar energy projects.
Under the province’s green energy plan, by 2030 it is expected to reach a total capacity of 1,500MW in wind energy and 3,912MW in solar energy.
The province is now home to 17 operational solar power plants with a total capacity of 1,100 MW.
It has also approved 13 wind power projects with a designed capacity of 680MW. Of the total, three have been already operational.
expected to cost VN?14 trillion ($600mn), is
w w w . N E W S B A S E . c o m
Week 15 15 •April•2020