Page 13 - AsiaElec Week 25 2021

AsiaElec NEWS IN BRIEF AsiaElec

INVESTMENT that underinvestment in more reliable HYDROGEN
transmission networks is one of the key
Climate Transition Capital to threats to reliable grid operations and Australia rejects $36bn
performance across Asian electricity markets.
launch $226mn SPAC in project delivery, business development, Asian Renewable Energy
Raj has over 17 years of global experience
Investment platform Climate Transition sales, proposals, contracting, operations, Hub
Capital is to launch a EUR190mn ($226mn) change management and project management
Special Purpose Acquisition Company primarily in the power transmission sector. The Australian government has rejected
(SPAC) aimed at investing in companies that In his previous roles, he organised and ran on environmental grounds its plans for the
are “pioneering” climate transition. operations in Southeast Asia and helped to production and export of renewable fuels
The company has already attracted deliver power transmission infrastructure from the $36bn Asian Renewable Energy Hub
investment from BlackRock, the world’s across the East Asia Pacific region. Raj is (AREH).
largest asset manager, and commodities trader based in Bangkok. Environment minister Sussan Ley said
Hartree, it said. BLACK & VEATCH proposals by the AREH – which aims to
SPACs raise funds to acquire a private link 26GW of wind and solar to 14GW of
company and take it public, and are the electrolysers to produce green hydrogen and
latest global craze in fundraising with record SOL AR ammonia – were “clearly unacceptable,” given
amounts funnelled to SPACs in the last two the potential impacts on migratory birds and
years. CPW Global plans to build a wetlands in Western Australia.
The ruling is a major setback for efforts
50 MW solar plant in Serbia in Australia to scale-up green hydrogen
production and to drive down costs
APPOINTMENTS Australia-based renewable energy company The AREH is promoted by a of
CPW Global is planning to build a 50 MW InterContinental Energy, CWP Energy Asia,
Black & Veatch further solar plant in Sjenica, in the Zlatibor District Vestas and Macquarie.
It was previously given fast-track status by
of southwestern Serbia.
expands power installation in Serbia, where coal remains the Australian government and has received
The plant will be the first large-scale solar
state environmental approvals.
transmission team to the primary source of energy, but where changes proposed to the plan after it was
The problem is apparently connected with
the government is preparing for the energy
support southeast asia’s transition. decided to refocus it from its original remit of
power production and instead concentrate on
Special purpose vehicle Kima Solar will
sustainability goals build the solar park, with an investment of green fuels.
The plans called for green hydrogen and
around €40mn. It is due to be grid-connected
As the need for integrated power generation, in 2023, and will sell power to the Serbian ammonia production from 16GW of onshore
transmission and distribution solutions South East European Power Exchange wind capacity and 10GW of solar, with first
grows across Asia, Black & Veatch has further (SEEPEX) or other off-takers under a power production from 2027.
strengthened its power transmission and purchase agreement, said Kima Solar’s “We are now working to understand the
distribution team with the appointment of director, Nikola Stamenov, reported PV- minister’s concerns, and will engage further
Jerin Raj as its Asia Power Transmission & magazine. with the minister and her department as we
Distribution Business Director. continue to work on the detailed design and
“With the share of renewable energy engineering aspects of the project,” the AREH
in Southeast Asia’s power generation mix said in a statement.
increasing, the region will need more
integrated power solutions to improve grid
efficiencies and resilience. One critical
step will be to expand its transmission and
distribution networks. Jerin’s deep knowledge
of the regional power transmission sector
will further enable Black & Veatch to help
clients achieve profitability, reliability and
compliance targets through cost and schedule
certainty,” said Narsingh Chaudhary, Black &
Veatch’s Executive Vice President & Managing
Director, Asia Power Business.
According to Black & Veatch’s Strategic
Directions: Electric Industry Asia 2021
Report, the most significant investments
in new capacity over the next three to five
years is expected in renewable energy. Solar
(land), energy storage, solar (floating), wind
(offshore) and microgrids represent the top
five categories.
Regional energy industry leaders caution

Week 25 23•June•2021 www. NEWSBASE .com P13