Page 13 - AsiaElec Week 04 2021

AsiaElec NEWS IN BRIEF AsiaElec

Malaysia’s first ever solar auction, but it was an all-time high of 187.3GW on Friday filing to the Hong Kong bourse.
one of the first to start generating renewable morning. KPMG was previously hired to The other four new investors are Cosmic
energy for the country when commissioned in manage the sale, which initially saw interest Success Holdings Ltd, Upper World Ltd,
March 2018. from Macquarie Infrastructure and Real Heyirong International Trade Co. Ltd and
The second project sold is the 39 MWp Assets, CLP India Pvt. Ltd, and Hero Future Greenwoods Global Investment Ltd.
Gebeng solar park. Completed at the end of Energies. However, the deal could not be China Evergrande, the country’s most
2019, it was won in the government’s second finalised. PTC India has now decided to sell indebted property developer, has been
solar auction. Delivered in only 17 months, it the assets to a government-owned firm, with scrambling for cash as Beijing plans new debt-
was the first solar park to generate power in SBI Capital Markets Ltd advising it on the ratio caps to tackle what it considers excessive
the LSS2 auction. sale. “At present, the divestment process of borrowing in the real estate development
“We are an established player in the PTC Energy Limited is on. At this juncture, sector.
wider APAC region and are keen to support therefore, the company would not like to The company’s balance of interest-bearing
investment companies like reNIKOLA in comment on any market speculation,” a indebtedness was 716.5 billion yuan ($110.6
their drive to build home-grown renewables PTC India spokesperson said in an emailed billion) at the end of 2020, down 157.8 billion
portfolios,” said BayWa r.e. Director of response. yuan from March. The developer said it
Projects, APAC, Daniel Gaefke. Electricity firms such as NTPC and SJVN targets to reduce the balance by a further 150
“These two sites were delivered through have pivoted toward green energy against billion yuan this year.
the combination of our global expertise and the backdrop of a rapidly evolving Indian
our local knowledge. Today they generate energy landscape. NTPC plans to acquire at
enough electricity to power 13 000 homes least 1GW each of operational solar and wind
and are already contributing to the Malaysian projects as part of its strategy to have a 32GW EMISSIONS
government’s goal of producing 24% of its clean energy portfolio by 2032. SJVN, a joint
energy needs from renewable sources by venture between the Union government and Shanghai aims to see
2050.” the Himachal Pradesh state government also
has ambitious clean energy plans. carbon dioxide emissions

peak by 2025
WIND
ELECTRIC VEHICLES Shanghai aims to bring the city’s carbon
NTPC and SJVN in?fray China Evergrande New dioxide emissions to a peak before 2025, five
years ahead of the national target of 2030,
to buy PTC’s wind power Energy Vehicle Co attracts local authorities said Sunday (Jan 14).
The target was announced in the municipal
assets government work report delivered by the
city’s mayor Gong Zheng at the ongoing
State-run NTPC Ltd and SJVN Ltd have investors to raise $3.4 bln fifth session of the 15th Shanghai Municipal
placed bids to buy out PTC India Ltd’s Property giant China Evergrande’s Hong- People’s Congress.
289MW wind power assets spread across Kong listed electric vehicles firm said on Shanghai will formulate a citywide
Madhya Pradesh, Karnataka, and Andhra Sunday it would bring in six new investors action plan to promote energy conservation
Pradesh, said two people aware of the to raise HK$26 billion ($3.4 billion) to fund and carbon reduction in key fields such as
development. technology research and repay debt. electricity, steel and chemical industries,
With a potential enterprise value of around China Evergrande New Energy Vehicle according to the report.
?2,000 crore, the sale is part of the country’s Ltd will issue 952.4 million shares at HK$27.3 The plan includes lowering the proportion
largest electricity trader PTC India Ltd’s plans each to the new investors who include China of total coal consumption in primary energy
to exit its wind power business. Gas Chairman Liu Minghui and Chan Hoi- consumption to about 30 percent and
These seven assets are owned by PTC wan, spouse of Joseph Lau who is a Chinese increasing the proportion of natural gas
India’s subsidiary PTC Energy Ltd. Estate shareholder, the firm said. consumption to about 15 percent.
This deal comes against the backdrop The price offers a 9% discount to Friday’s In 2021, Shanghai plans to plant 3,333.3
of India’s electricity demand registering close of HK$29.90, the company said in a hectares of forests and 1,000 hectares of green

Week 03 27•January•2021 www. NEWSBASE .com P13