Page 13 - AsiaElec Week 10 2021

AsiaElec NEWS IN BRIEF AsiaElec

Energy Minister Lily D’Ambrosio said the
government is also working to create 5000
megawatts of new power generation over the
next seven years.
“Every Victorian can be absolutely
confident that we will have more than
sufficient power to meet all of our needs,” Ms
D’Ambrosio said.
Federal Energy Minister Angus Taylor said
the plant’s closure brings with it reliability and
affordability concerns.

TNB aims to grow its overall RE portfolio
to 8,300MW by 2025 (including large hydro).
TNB president and CEO Baharin Din HYDRO
SOL AR described the acquisition as another step
forward towards achieving TNB’s ambition to Pakistan signs contract
Tenaga enters Vietnam grow its RE and utility businesses in Southeast with China for biggest KP
Asia.
solar market as a beachhead for TNB to establish a local
Baharin said: “This acquisition will serve
Kuala Lumpur-listed Tenaga Nasional presence in Vietnam and expand into the hydro project
Bhd (TNB) is expanding its international rapidly growing RE and utility market in The Khyber Pakhtunkhwa government
renewable energy (RE) footprint into Vietnam. has signed a contract with the Chinese
Southeast Asia with its foray into Vietnam by construction company for the construction of
buying a stake in a 21.6MW project. 300 megawatts Balakot Hydropower Project.
In a statement to Bursa Malaysia on It is the biggest ever project of hydropower
March 4, it said TNB Renewables Sdn Bhd COAL generation under the KP government and
will acquire a 39 per cent stake in a project important development in the energy sector,
comprising five rooftop solar plants in Victoria’s largest power said an official handout. The 300-megawatt
Vietnam from Singapore’s Sunseap Group. power project would be completed with an
This acquisition extends TNB’s plant to close in 2028 estimated cost of Rs 85.00 billion in a period
collaboration with Sunseap, beyond the of six years with the financial assistance of the
Malaysia and Singapore cross border One of Australia’s dirtiest coal-fired power Asian Development Bank.
partnership, to capture the rapid growth in the stations will close four years ahead of A ceremony to this effect was held here
Vietnam RE market. schedule, leaving hundreds of jobs in doubt. on Tuesday with Chief Minister Mahmood
“The project has secured the feed-in tariff EnergyAustralia on Wednesday announced Khan as chief guest. Relevant officials
[FiT] under the FiT2 scheme in Vietnam its Yallourn Power Station in Victoria’s Latrobe of Pakhtunkhwa Energy Development
which is intended to promote investments in Valley will close in mid-2028, despite being Organisation (PEDO) and Chinese
renewable energy sources through lucrative licensed to operate until 2032. construction company signed the contract to
and above market rate tariffs. “While the announcement may have start physical work on the project.
“Having achieved commercial operation surprised some of our people, its context Besides provincial cabinet members
date in December 2020, all five plants are didn’t,” managing director Catherine Tanna Taimur Saleem Jhagra and Himayatullah
under 20-year power purchase agreements told reporters. khan, the event was also attended by the
[PPAs] with the state-owned utility company, “We are acutely aware that the world of Energy and Power Department officials. The
Vietnam Electricity, to supply clean energy to energy is rapidly changing as we transition to chief minister termed the project of vital
the country’s national grid,” TNB said. cleaner forms.” importance for the province and milestone
Sunseap holds a 90 per cent stake in the She said the company will build a achievement of the KP government.
projects and after the sale of 39 per cent 350-megawatt battery at one of its nearby gas He said the groundbreaking of the project
stake, it will be reduced to 51 per cent. The power plants by 2026 to compensate for the is expected to be performed by the mid of
transaction is slated for the first quarter of this loss of Yallourn. next month, adding hopefully, Prime Minister
year. “This will provide energy for up to four Imran Khan would himself perform the
Sun Times Energy JSC, an existing hours at a time and is larger than any battery ceremony of the mega project.
shareholder of the projects, will continue to operating in the world today,” Ms Tanna said. Mahmood Khan stated that the project
own 10 per cent of the equity interest. EnergyAustralia is also working with the on completion would play an important role
Prior to this acquisition, TNB’s global state government on a “multimillion-dollar in boosting industrial activities, job creation
presence in RE consists of a total portfolio support package” to re-skill about 500 affected and overall development of the province. He
of 2,732.3MW in Malaysia (including workers. added during the construction phase, the
2,536.1MW of large hydro) and 666MW “We are determined to show Australia it is project would generate around 4,000 jobs
across the UK, Turkey and India comprising possible to move from the old to the new in whereas on completion, it is expected to
mainly solar, wind and hydro energy a way that does not leave people behind,” Ms generate a revenue of Rs 14 billion per annum.
generation assets. Tanna said. Mahmood Khan maintained that power

Week 10 10•March•2021 www. NEWSBASE .com P13