Infocus International Brings Back Renewable Energy Project Finance & Financial Modelling Masterclass ACN Newswire

Infocus International Brings Back Renewable Energy Project Finance & Financial Modelling Masterclass

February 10, 2023
Singapore, Feb 10, 2023 - (ACN Newswire via SEAPRWire.com) - Infocus International Group is bringing back the Renewable Energy Project Finance & Financial Modelling online masterclass and it will be commencing live on the 7th March 2023. The objective of this course is to provide participants with an enhanced understanding of the financial modelling and key documentation requirements of all interested parties to today's RE PF transactions. This programme provides you with proven PF modelling techniques and transaction management techniques which will enable you to quantitatively assess risks, resolve constraints, and reach project financial closure. The practical models for wind, solar, hydro, biomass, and geothermal PF models will be demonstrated through a series of real case examples of projects and transactions from Southeast Asia, South Asia, the Middle East, Europe, and North America.A past participant from Ib Vogt shared that, "The trainer has in-depth knowledge in the subject. This discussion is very good especially most participants are seasoned players with the industry."Another past participant from Electricity Generating Authority of Thailand mentioned that, "This course is not only recommended to the ones with experience in this field, but also for people with no or less experience. Everyone will definitely gain knowledge and be able to apply it during the course."Benefits of Attending:- Identify key requirements of limited-recourse Project Finance for Renewable Energy transactions, Power Purchase Agreements (PPAs) & PF documentation management- Review solar, wind, hydro, biomass & geothermal PF financial model design requirements, presentation & formatting standards- Program financial statements, cash flows, profit & loss statements and managing international accounting standards for RE PF transactions- Project RE PF balance sheets, SPV reserve accounts, PF refinancing, and conducting sensitivity analyses- Oversee the design and review of RE PF financial models based upon your own company's risk profile and corporate goals- Apply clear investment incentives and renewable energy credit (REC), feed-in-tariffs (FIT), and credit enhancements for bankable private investments in RE generation- Manage and oversee successful renewable power project finance transactionsJoin us now to know more about the techniques & models for bankable green energy transactions of solar, wind, hydro, biomass & geothermal power investments in today's competitive energy markets. Want to learn more?Simply email to esther@infocusevent.com or call +65 6325 0210 to obtain your FREE COPY of event brochure. For more information, please visit www.infocusinternational.com/renewable-project-finance About Infocus International GroupInfocus International is a global business intelligence provider of strategic information and professional services for diverse business communities. We recognises clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights. For more information: www.infocusinternational.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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CIMC is betting on a new round of growth by shooting “triple arrows” of its innovative businesses ACN Newswire

CIMC is betting on a new round of growth by shooting “triple arrows” of its innovative businesses

February 8, 2023
HONG KONG, Feb 8, 2023 - (ACN Newswire via SEAPRWire.com) - On the closing night of 20 January, CIMC (000039.SZ) released 2022 results forecast. During the reporting period, net profit attributable to the parent was RMB3 billion to RMB3.8 billion, and net profit attributable to the parent after deducting non-recurring gains and losses was estimated to be RMB3.6 billion to RMB5.2 billion. There exited a certain gap for the figures compared with the same period last year, which however is within the expected range. Combined with the recent trend of container transportation industry plus the figures released in the third quarter of last year, it can be found that the gap has been fully digested by the market.(Photo credit: Futu, collated by Gelonghui)(Source: research report of Essence Securities)In addition, upon the release of the annual results alert, CIMC's H shares also had a relatively stable and upward trend in trading sessions after the opening of the Hong Kong stock market in the Year of the Rabbit, with a cumulative increase of 2.76% in just two trading days, making a "good start".High-quality growth ideas of "container leader": seeking new growth points in the future through innovationIn the past year, despite the combined impact of multiple complex factors such as geopolitical incidents, rising inflation overseas, aggressive rate hikes in Europe and the United States, and slowdown of the global economy, CIMC has generally maintained a good momentum of "improving quality and increasing efficiency" and demonstrated strong business resilience, achieving steady progress. In 2023, CIMC has established and thoroughly implemented the new development concept, focusing on high-quality growth.What is the development concept of high-quality growth? In order to change its stereotype in the market, CIMC, as the "container leader" in the world, is planning to maintain and improve its existing product advantages and build a model enterprise of operational excellence by strengthening technological innovation, creating smart products and promoting intelligent manufacturing.It is easy to see that CIMC's new round of growth in the future is inseparable from technological innovation, continuous upgrading of manufacturing capabilities and models, improvement in strengths of product and service capabilities, as well as superior operational management mode of lean management and quality improvement and efficiency increase.Historically, CIMC has been a company committed to sustainable growth. In recent years, the reason why CIMC has been able to achieve steady growth and survived cyclical turbulence in an erratic and complex external environment is, in short, continuous seeking of new future growth points based on its original pillar businesses, solid development of its rooted industries and release of its leading advantages.Today, CIMC's innovative businesses are showing multiple points of development, which can be commendable and the results are beginning to emerge. They have beneficially complemented and linked to the original foundation, weakness or strength, enabling the expansion and integration of the Company's businesses and the enhancement of its comprehensive strength to be rolled out smoothly in a better way.Meanwhile, CIMC's continued exploration of innovative businesses will be a strong booster for its future "high-quality growth".As we all know, CIMC is a leading global supplier of equipment and solutions for the logistics and energy industries, with its industrial clusters mainly covering the logistics and energy sectors. One of the key cores supporting its development in the two sectors is CIMC's advanced production modes and manufacturing capabilities. However, any manufacturing industry cannot do without full support and coordination of the upstream and downstream of the value chain.Following these three directions, let's take a look at how CIMC has developed its innovative businesses.The first arrow of innovative businesses was shot at clean energy, yielding unusually brilliant results in niche main tracksCIMC's first arrow of developing innovative businesses in the energy industry was shot at clean energy. Among numerous niche tracks, it chose the two main tracks of energy storage and hydrogen energy respectively, achieving remarkable results by completing a critical layout with outstanding results, which laid a solid foundation for future growth.Nowadays, energy storage has become an indispensable part of new energy power generation and also one of the key technologies for countries to advance their carbon neutrality goals. As a result, the energy storage industry is considered to be the most certain golden track in the new energy industry.At the moment, a research report published by the institute of Essence Securities believes that the global energy storage industry may usher in a greater boom in 2023, which concludes from the revenue, cost and policy that stimulus for such energy storage boom may have been ready.From the policy, the current rapidly growing demand for energy storage installations in the PRC is mainly attributable to policy requirements for new energy installations. Local governments require that new energy installations shall be mandatorily equipped with a certain percentage of energy storage devices. For example, Hunan Province requires wind power and centralised photovoltaic power generation to be equipped with no less than 15% energy storage devices, while Shanghai requires offshore wind power to be equipped with no less than 20% energy storage devices. Other provinces and cities require the allocation of energy storage for new energy installations ranging from 2% to 20%.The "Energy Storage Industry Research White Paper 2022" points out that the new energy storage will grow at a CAGR of 53.3% from 2022 to 2026, showing a steady and rapid growth of the energy storage market. Given multiple certainties in the development of energy storage industry, CIMC has leveraged its strength to enter the energy storage track in order to capture the industry's strong and sustainable growth momentum in future.In the author's view, since 2021, CIMC's container integrated business has been carrying out energy storage related business.In 2021, CIMC's container integrated equipment business continued with rapid growth and forged closer cooperation with the industry's leading customers. Its integrated energy equipment business mainly focuses on four aspects: new energy power transformation equipment, power generation equipment, electrochemical energy storage equipment and new energy charging equipment. Among them, new energy power transformation and energy storage equipment is the key business development direction for the container segment in the future. On 16 November 2022, Fujian CIMC New Energy Technology Co., Ltd. was established, which is a company indirectly wholly owned by CIMC, and its business scope includes energy storage technology services; centralized fast charging stations; manufacturing of new energy primary power equipment; sales of batteries and others. It may indicate that CIMC will fully accelerate its presence in the energy storage industry chain.From 2023 onwards, it is believed that in the energy storage sector, CIMC will also be able to bring into play its extensive experience and industrial advantages, such as in its container integrated equipment business. This will further fit its ongoing promotion of the "parity programme" of offshore wind power, thus making up the last "short board" of its innovative businesses in the new energy industry.It is worth noting that CIMC has established its core advantages in the key parts of hydrogen energy industry chain. CIMC is fully accelerating its presence and development of hydrogen energy, and from the Group as a whole, CIMC Enric is one of the leading players in hydrogen energy development. With storage equipment, transportation equipment and hydrogen refueling equipment being its major business areas, the company aims to become a leader in the key parts.It is reported that CIMC Enric has become one of the major suppliers of third generation hydrogen storage cylinders and has formed a joint venture with HEXAGON, a world class supplier of Type IV ("T4") hydrogen cylinders and system technology and design, which will provide the production, storage and transportation solutions of Type III and T4 hydrogen storage cylinders for the fast-growing high-pressure hydrogen storage and transportation in China and Southeast Asia, as well as the production of hydrogen supply systems.With the construction of hydrogen refueling stations in China expected to usher in a period of rapid development, CIMC Enric will seize the opportunity of new construction demand for hydrogen refueling stations and explore the development of new models such as skid-mounted hydrogen refueling stations and integrated hydrogen production and refueling stations.In fact, as early as 2006, CIMC Enric, the representative of CIMC tapping into the field of hydrogen energy, started to deploy its hydrogen energy business. After more than 20 years of accumulation, CIMC has established a profound foundation in the upstream and downstream of the hydrogen energy industry chain, and CIMC Enric has deservedly become the pioneer of CIMC's hydrogen energy business. Once the hydrogen energy track continues to boom in China in the future, CIMC Enric's leading position in hydrogen energy storage and transportation, as well as its growth potential, will be released accordingly.The second arrow of innovative businesses was shot at cold chain logistics, with CIMC Cold Chain releasing huge growth potentialAs mentioned in the beginning, another pillar on which CIMC's dominant industrial cluster focuses is the logistics sector. To this end, CIMC has shot its second arrow of innovative businesses at cold chain logistics. The cold chain logistics industry, which connects primary, secondary and tertiary industries, is an important industry to effectively link up rural revitalization and promote consumption upgrade.Since the end of 2021, certain policies in relation to the domestic cold chain logistics sector have continued to be implemented. The 14th Five-Year Plan for the Development of Cold Chain Logistics clearly states that by 2025, China will initially form a cold chain logistics network that links the production and sales places, covers urban and rural areas, and connects the markets at home and abroad. Since 2022, many provinces and cities across the country have also issued relevant policies to support the development of cold chain logistics.The policy effort is expected to bring significant changes and improvements to the supply side of the domestic cold chain logistics industry, and the pandemic period of the past three years has also fundamentally accelerated the shift in demand across the industry. Whether imported or domestic, China's cold chain logistics industry is experiencing its most flourishing period.By the end of 2020, the domestic cold chain logistics market size exceeded RMB480 billion, with a cold storage capacity of approximately 180 million cubic meters and a refrigerated van fleet of more than 280,000 vehicles. As for food cold chain accounting for up to 90% in the market, its overall penetration rate was approximately 40%, and compared to the 80-90% penetration rate in developed countries (such as Japan and the United States), there was still a potential growth space of one or more times. In 2019, before the outbreak of the COVID-19 pandemic, China's medicine cold chain accounted for approximately 9%, corresponding to approximately RMB13 billion cold chain logistics market. In the medium and long term, the continuous expansion of the medicine market, including vaccines, may drive the rapid growth of the medicine cold chain industry. Once the penetration rate reaches 40-50%, it represents an incremental space of RMB40-50 billion in cold chain logistics. In addition, in terms of the cold chain transportation rate of agricultural products in China, there is still a large room for improvement compared with the rate of 80%-95% in developed countries. The shortage of cold chain transportation rate also causes a high spoilage rate of agricultural products. For example, the spoilage rate of fruits and vegetables in China is approximately 15%, far higher than the average level of 5% in developed countries. All of these are issues in urgent need to be resolved in the cold chain logistics, which in turn bring huge opportunities for development to them as well.By and large, the scale of China's cold chain logistics industry, also as a development direction with higher certainty, will reach trillion in RMB taking the long view.As the most critical link with the highest technical content in cold chain logistics, cold chain equipment assumes an irreplaceable role.This is because in every link of cold chain logistics, namely from the "first kilometer", "circulation and transportation" to the "last kilometer", appropriate cold chain equipment shall be allocated to ensure refrigeration and freezing throughout the process. Especially in the medicine cold chain, in order to ensure the entire circulation process of drugs always within a specific temperature range, it has a strict operational process in the medicine cold chain transportation, with more stringent requirements on temperature control, temperature fluctuations monitoring and other aspects throughout the process.Since CIMC set up its first reefer container company in Shanghai in 1995, after 27 years of engagement in the industry, CIMC has become the largest global high-end cold chain equipment solution provider with a wide coverage and complete industrial chain, gradually forming a comprehensive layout of cold chain equipment by land, sea and air.In 2017, in order to expand and improve its strategic business chain of cold chain equipment, CIMC successfully incubated a "dual-innovation" enterprise, CIMC Cold Chain, which leverages CIMC's technological and manufacturing advantages in marine reefer containers and refrigerated vans to develop portable cold store business.At the end of 2020, CIMC Cold Chain formally introduced external strategic investors and embarked on a new "fast track" of development, focusing on the layout of multi-functional modularized reefer container business in the "first kilometer" and "last kilometer" of agricultural products and fresh food e-commerce. The portable cold store, as the main business of CIMC Cold Chain, is an important part of CIMC's development strategy in the cold chain industry. Urbanization and new consumption patterns such as e-commerce have had a profound impact on the cold chain industry. The centralized cold chain model, with large cold stores and traditional supermarkets as the main nodes, will also convert to a distributed cold chain model with field locations, transportation network nodes and urban front-end warehouses.Under new opportunities from the rapid industrial development of China's cold chain, CIMC Cold Chain has actively developed and promoted "new technologies, new equipment and new models" to accelerate industrial changes, improve the efficiency and quality of the cold chain industry, and lead the cold chain logistics industry to a new leap forward, thus becoming the leader of distributed cold chain equipment in China.The third arrow of innovative businesses was shot at new materials, with CIMC Bamboo Chain Technology Co. and CIMC Composites Co. emergingAccording to the author's understanding, the reason why CIMC has been able to establish its core competitive advantage of industrial clusters and accumulate a deep "moat" foundation in the energy and logistics fields is always inseparable from the advanced production modes and high-end manufacturing capabilities owned by CIMC. As mentioned, any manufacturing industry needs full support and cooperation of the upstream and downstream of the industry in order to achieve a real competitive advantage.It is, therefore, not difficult to understand why the third arrow of CIMC's innovative businesses has been shot selectively at the new materials industry. Like the semiconductor industry, the upstream materials and equipment sector has always been at the very top of the pyramid, and that whoever controls the key manufacturing materials and equipment, it is sure to grasp the lifeblood and future of numerous industries.We have identified CIMC Bamboo Chain and CIMC Composites as the very representative of CIMC's pioneers in the new materials field.CIMC Bamboo Chain Technology Co., Ltd. has the world's exclusive technology in the biodegradable material industry, which means that plants (such as bamboo, reeds, etc.) can be used to produce low-carbon biodegradable products (generally renewable fibers or powder) through purely physical treatment, with no chemical treatment required throughout the production process, greatly reducing water consumption and chemical pollution.According to the announcement, on 11 November 2022, CIMC Bamboo Chain Technology Co., Ltd. signed a cooperation framework agreement with Yueyang Economic and Technological Development Zone Management Committee. According to the agreement, CIMC Bamboo Chain Technology will actively promote the construction of the CIMC New Renewable Fiber Industrial Park project in Yueyang Economic and Technological Development Zone, which will use the instant catapult steam explosion technology, an exclusive global technology owned by CIMC Bamboo Chain, to produce plant fibers/powder.This move may become another milestone event in the industrialization and commercialization of patents in CIMC's innovative businesses, which also means that it will be able to bring more value, increase new sources of revenue and improve the utilization of patents within the Company, as well as enhance the efficiency of the innovation transformation results.When it comes to Qingdao CIMC Composites Co., Ltd., it has been aiming to become a leader in the thermoplastic composite industry since its inception in 2018. In July 2022, CIMC Composites was successfully listed on the list of provincial-level "Specialized and New" enterprises in 2022 by the Department of Industry and Information Technology of Shandong Province with its innovative development in the field of thermoplastic composites.In the context of promoting energy conservation, emission reduction and green low-carbon, CIMC Composites has mastered the core technology to produce continuous fiber reinforced thermoplastic composites (CFRT) with the unique attributes of "light weight and high strength". The refrigerated van produced with this new material has no odor, and also has the characteristics of water, moisture, corrosion and impact resistance. It is a complete alternative to the traditional FRP material, which emits a constant pungent odor and produces large quantities of formaldehyde and benzene during the manufacturing process. In addition, this continuous fiber reinforced thermoplastic composite (CFRT) and its processed products can be recycled an unlimited number of times, which is very beneficial to the environment and is in line with trend of low-carbon environmental protection advocated by the global industry. Based on the above advantages, this new material is now used in a large number of refrigerator vans produced by the Shandong base of CIMC refrigerator vans and in the refrigerator van products of major brands across China.With the development of national economy and the progress of new material technology, this kind of thermoplastic composite material with the advantages of light weight and environmental protection has been more and more widely used in the fields of transportation, pressure pipeline, construction and household, etc. It will also become an important driver for upgrading more industries in the future, with huge development potential and a broad market space. Leveraging the advantage of innovative technology, CIMC Composites has become one of the fast-growing enterprises in the domestic new materials industry, and has developed into a national high-tech enterprise in less than four years, with an annual output value of over RMB100 million, successfully developing more than 30 new products and maintaining the momentum of rapid business growth.Through the "emergence" of CIMC Bamboo Chain and CIMC Composites, CIMC has opened up a new development stage of "from 1 to 100" in several promising segments of the new materials industry, directly bringing a new hope of higher-level upgrading and alternative development to many industries from the upstream of the manufacturing and the source of technology.Finally, from the booming development momentum of CIMC's innovative businesses, it can be concluded that as innovation is always the first driving force for development, CIMC will ultimately advance itself, its industry and society to new heights of high-quality development through the in-depth implementation of its innovation-driven development strategy. There is no doubt that this idea and determination are correct, and the results of its practice will eventually prove that victory will be on the side of human progress and evolution. The future of CIMC is bound to be promising, and the take-off of CIMC will surely be seen again. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Results of Joint Research into Hydrogen Energy Solutions Supported by the Toyota Mobility Foundation were Published in the International Journal of Hydrogen Energy JCN Newswire

Results of Joint Research into Hydrogen Energy Solutions Supported by the Toyota Mobility Foundation were Published in the International Journal of Hydrogen Energy

February 8, 2023
TOKYO, Feb 8, 2023 - (JCN Newswire via SEAPRWire.com) - A review article by a team of researchers supported by the Toyota Mobility Foundation (TMF) has been published in the International Journal of Hydrogen Energy, a world-renowned scientific journal issued by the Dutch academic publisher Elsevier.Water electrolysis hydrogen generatorTitle: Influence of renewable energy power fluctuations on water electrolysis for green hydrogen productionAuthors:- Hirokazu Kojima (National Institute of Advanced Industrial Science and Technology)- Kensaku Nagasawa (Yokohama National University)- Naoto Todoroki (Tohoku University)- Yoshikazu Ito (University of Tsukuba)- Toshiaki Matsui (Kyoto University)- Ryo Nakajima (techno2050 NAKAJIMA PE Office TMF Advisor)Website (English): www.sciencedirect.com/science/article/pii/S0360319922052028To realize a decarbonized society, the introduction of a large amount of renewable energy is essential. However, renewable energy is characterized by the fact that its ability to generate power fluctuates depending on the weather and the time of day. There is hope that hydrogen can serve as a regulating force to adjust such fluctuations in power, and water electrolysis is a key technology for converting that energy.This review article investigated a wide range of issues for each major water electrolysis method, such as restrictions on using renewable energy as a power source for water electrolysis, the durability of water electrolyzers, and catalyst degradation. It then described the performance requirements for water electrolysis systems and materials that can adapt to renewable energy fluctuations and the issues that need to be discussed going forward.TMF has positioned environmental and energy issues as important themes for a sustainable mobility society, and in 2017, established the "Research Program to Support Innovative Hydrogen Energy Solutions" that targets carbon-free hydrogen (green hydrogen) cost reductions across the entire hydrogen supply chain of "producing," "transporting," and "using." In this program, 29 promising research themes have been selected and provided grants through open calls over three years. Additionally, regular evaluations and advice by an evaluation committee of experts in hydrogen and energy systems and opportunities for exchanges and mutual study among selected researchers have been provided.In October 2020, the Japanese government made a "Carbon Neutrality by 2050" declaration. For realizing a decarbonized society, in addition to supporting basic research by individual researchers, in April 2021, TMF started a new joint research program to be conducted by teams of researchers. In this joint research program, two working groups (WG) were formed to focus on two important themes for realizing a decarbonized society, "Hydrogen Society & Energy Systems" and "Water Electrolysis." Five researchers for each WG were selected under the "Research Program to Support Innovative Hydrogen Energy Solutions."Based on information obtained by conducting literature reviews on the impact of renewable energy power fluctuations on water electrolysis systems, the research team has started research using a practical water electrolysis device installed with the cooperation of the National Institute of Advanced Industrial Science and Technology. To date, few published studies have investigated the behavior, performance degradation, and effects on durability caused by fluctuations in renewable energy power output using actual equipment. The results of this study are expected to contribute to solving problems related to improving performance and reducing the costs of water electrolysis.Device specifications: Solid polymer (PEM) type water electrolysis hydrogen generatorHydrogen production capacity: 10Nm3/hLocation: National Institute of Advanced Industrial Science and Technology Fukushima Renewable Energy InstituteSince its founding, the Toyota Motor Corporation has conducted its business activities with the aim of creating a prosperous society through automobiles while respecting all stakeholders, including customers, business partners, employees, and the local communities in which it operates. Accordingly, Toyota Mobility Foundation (TMF) was established in August 2014 to conduct activities that benefit the public good.Aiming to realize a mobility society where everyone can move about freely, TMF is working to solve mobility issues worldwide through a diverse range of projects. Going forward, the Toyota Group, working in cooperation with various partners and utilizing the technologies and knowhow it has cultivated through its business activities, will continue to promote undertakings that are aligned with the UN Sustainable Development Goals (SDGs) while contributing to the realization of a society where people can lead rich and fulfilling lives. Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)
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Gotion and InoBat sign MoU to develop Joint Venture EV Battery Cells and Packs

February 8, 2023
HONG KONG, Feb 8, 2023 - (ACN Newswire via SEAPRWire.com) - On February 5, Gotion High-Tech, the innovative manufacturer of batteries and energy storage solutions in China, signed a Memorandum of Understanding (MoU) with InoBat, the European pioneering supplier of premium batteries for electric vehicles, to explore Joint Venture opportunities in revolutionizing EV battery and energy storage technologies, including co-development of a gigafactory with cell and pack production capacity of 40 GWh.With technical superiority, complementary capabilities and a shared sustainability ethos, Gotion and InoBat will look at ways to work together on several key common topics of interest, such as: -- co-development of a JV gigafactory with cell and pack production capacity of 40 GWh to support EV applications, with the CEE region being one of the regions under consideration-- technical cooperation based on both sides' respective advantages of LFP and NMC batteries-- co-develop the potential for ESS battery production at existing InoBat premises in Slovakia allowing fast access to the European market -- technology and commercial partnership in facility operations-- investigation of recycling concepts for production scrap and end of life batteriesThrough the cooperation following the MoU, InoBat benefit from Gotion's expertise in electric storage solutions ("ESS") whilst Gotion will benefit from InoBat's existing manufacturing sites and expansive market connections in Europe to facilitate Gotion's internationalization. By working together in mutually beneficial areas, both companies aim to devise new and exciting technologies to accelerate the global charge towards a green energy future.About Gotion High-TechGotion High-tech is a world-leading provider of new energy solutions. It focuses on the R&D, production and sales of EV lithium-ion batteries and ESS batteries and ranks among the top in China and the global market in terms of comprehensive strength. Gotion High-tech has global operations and has partnered with Volkswagen, Tata Group, Vinfast, and Jinko.For more information, visit https://en.gotion.com.cnAbout InoBat:InoBat specializes in electric battery R&D, supply, and recycling for global OEMs in automotive, commercial vehicle, motorsport, and aerospace. Its "cradle-to-cradle" approach promotes a circular economy. Backed by Rio Tinto, Amara Raja, Ideanomics, IFC, IPM Group and other strategic investors and partners, InoBat has a R&D facility and pilot line in Slovakia. It has also been approved for grant financing under the Important Projects for Common European Interest (IPCEI).For more information, visit https://inobat.eu/ Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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LG Energy Solution and Honda Formally Establish Battery Production Joint Venture JCN Newswire

LG Energy Solution and Honda Formally Establish Battery Production Joint Venture

January 16, 2023
TOKYO, Jan 16, 2023 - (JCN Newswire via SEAPRWire.com) - LG Energy Solution (LGES; KRX: 373220) and Honda Motor Co., Ltd. (Honda) today announced the formal establishment of the joint venture (JV) which will produce lithium-ion batteries for electric vehicles (EV) produced by Honda.The JV will begin construction of a new battery plant early this year with the goal of completion by the end of 2024 and starting mass production of advanced lithium-ion battery cells by the end of 2025. The plant aims to have an annual production capacity of approximately 40GWh. All batteries produced by the new JV will be supplied exclusively to Honda plants in North America to power battery-electric vehicles sold in North America. The new plant will be located approximately 40 miles southwest of Columbus in Fayette County, near Jeffersonville. LGES and Honda have committed to investing $3.5 billion and creating 2,200 jobs to establish the new production facility. The companies' overall investment related to the JV is projected to reach $4.4 billion.About the new JV:Company name:L-H Battery Company, Inc. (tentative name)Location:Jeffersonville, Ohio, U.S.A.Capital:$ 210 million USD (Percentage of ownership: 51% LGES, 49% Honda)Corporate officers:Robert H. Lee, CEO (Currently Executive Vice President, North America Regional Group Leader of LGES)Rick Riggle, COO (Previously Plant Lead of Anna Engine Plant of Honda Development and Manufacturing of America)Comments by Robert H. Lee, CEO of L-H Battery Company, Inc."LG Energy Solution has all the right assets to make this joint venture a success, including the financial stability, quality, competitiveness, and production capacity with global operational expertise," said Robert H. Lee. "With two companies' expertise combined, we will provide top quality batteries to ensure the successful launch of Honda EVs in North America, and grow with the community here in Ohio by creating high value jobs."Comments by Rick Riggle, COO of L-H Battery Company, Inc."The formal establishment of this joint venture between LG Energy Solution and Honda to produce EV batteries in Ohio is another major step toward our electrified future," said Rick Riggle. "We are excited to move forward with such a strong partner in LG Energy Solution and, together, we look forward to establishing a strong relationship with the community in Fayette County, Ohio."About LG Energy SolutionLG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co. Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations, visit www.lgensol.com.About Honda Motor Co., Ltd.Honda Motor Co., Ltd. (NYSE: HMC) is responsible for the development, production and sales of automobiles, motorcycles, power products and aviation products worldwide. Honda now delivers over 30 million products annually through its three product lines. Honda and its partners build products in more than 60 manufacturing plants in 27 countries, employing about 220,000 associates globally. On a global basis by 2050, Honda is striving to achieve carbon neutrality for all products and corporate activities, as well as zero traffic collision fatalities involving Honda automobiles and motorcycles. Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)
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Green Power Energy’s 20 MW Taungdaw Gwin Build-Own-Operate Solar Plant Commissioned in Myanmar ACN Newswire

Green Power Energy’s 20 MW Taungdaw Gwin Build-Own-Operate Solar Plant Commissioned in Myanmar

December 30, 2022
Mandalay, Myanmar, Dec 30, 2022 - (ACN Newswire via SEAPRWire.com) - Myanmar's latest solar energy plant, the 20 megawatt (MW) build-own-operate (BOO) Taungdaw Gwin project, has been officially opened, adding a new chapter to the country's sustainability and electrification efforts, its developer announced today. The 20-megawatt Taungdaw Gwin mega-scale solar PV project will contribute to Myanmar's sustainability and electrification efforts. [Image: GPE]The project was developed by Green Power Energy Company Limited (GPE), a subsidiary of Gold Energy Company Limited (GE), a leading renewable energy developer in Myanmar.Taungdaw Gwin is the second mega-scale solar project to be completed by the GE group. Clean Power Energy Limited, another GE subsidiary, completed the 30 MW Thapyay Wa project in Mandalay district in December 2021.With the official opening of the Taungdaw Gwin project, GE's solar energy capacity stands at 50 MW. GE also operates the 120 MW Thaukyegat (2) Hydropower Project (TYG), commissioned in 2013.Located on an 80.9-hectare site southeast of Kyaukse, Myit Thar Township, the Taungdaw Gwin project utilizes a solar tracking system so as to maximize photovoltaic (PV) energy captured by 45,980 solar panels. The project is expected to generate 25.1 MW of direct current or 22.9 MW of alternating current per year. The Taungdaw Gwin project began transmission to the National Grid on 17 November 2022. The energy output is directly linked to the Taungdaw Gwin substation and is connected to the national grid via a 69.6 km 33-kV transmission line built by GPE.In line with its commitment to give back to the community, the GPE team conducted an in-depth Environmental and Social Impact Assessment before construction. This enabled an understanding of the impact on nearby communities and the environment and helped to facilitate construction in a responsible and sustainable manner.Through engaging with local community leaders to understand the needs of the residents surrounding Taungdaw Gwin, the GPE team constructed and installed two overpasses measuring 20.1 metres long by 4.5 metres wide. These and other efforts have improved socio-economic benefits to the community in this otherwise harsh area which had faced challenges of accessibility during the development phase of this important project.U Zaw Win, Managing Director of GPE, said: "We are proud of the successful completion of the Taungdaw Gwin solar facility. We look forward to a sustainable energy source for the future of Myanmar. "As a partner in nation-building, GPE is deeply committed to infrastructure development and sustainability in Myanmar. This and other renewable energy projects we are involved in will increase the contribution of renewable energy to the national grid while advancing the country's national electrification goals."About Green Power Energy (GPE)Green Power Energy Company Limited (GPE), a subsidiary of Gold Energy Company Limited (GE), is a renewable energy developer. GPE completed the Taungdaw Gwin solar PV facility, which was officially opened in December 2022. Despite the challenges of the pandemic, GPE completed the project earlier than scheduled. The solar energy is connected to the Taungdaw Gwin substation, part of the national grid, via a 69.6 km 33-kV transmission line built by GPE. As GPE continues to build upon its track record and execution capabilities, it remains committed to contributing to Myanmar's clean energy sector in the coming years. Visit https://gpenergymm.com/. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Hitachi Energy and Linxon support National Grid in achieving sustainability targets through pioneering 420 kV SF6-free gas- insulated switchgear technology JCN Newswire

Hitachi Energy and Linxon support National Grid in achieving sustainability targets through pioneering 420 kV SF6-free gas- insulated switchgear technology

December 22, 2022
ZURICH, SWITZERLAND, Dec 22, 2022 - (JCN Newswire via SEAPRWire.com) - Hitachi Energy and Linxon are collaborating to strengthen London Power Tunnels (LPT), a key power infrastructure project that will ensure reliable, clean electricity supply for England's capital city. To support National Grid in accelerating its net zero targets, Hitachi Energy will deliver EconiQ 420-kilovolt (kV) gas-insulated switchgear (GIS) and gas-insulated lines (GIL) containing no sulfur hexafluoride (SF6).As one of the world's largest investor-owned transmission and distribution utilities, National Grid has the ambition to remove all SF6 from its fleet by 2050. In 2020, it embarked on LPT project that will replace ageing high-voltage electricity cables and expand network capacity to meet the increasing electricity demand. Considered to be one of the city's largest engineering projects since the 1960s, the LPT will span 32.5 kilometers via underground tunnels in South London.Linxon is building Bengeworth Road substation for National Grid to develop the LPT infrastructure. To support National Grid in its transition to SF6-free solutions, Hitachi Energy will deliver 7 bays of its EconiQ 420 kV GIS to enable the transmission of electricity over long distances while eliminating SF6, in addition to EconiQ 420 kV GIL. The EconiQ high-voltage portfolio is 100 percent as reliable as the conventional solutions based on SF6. The installation is expected to commence by 2023."We're delighted that Bengeworth Road substation, at the heart of London Power Tunnels, will be SF6-free." said Onur Aydemir, National Grid Project Director for London Power Tunnels. "This key power project will deliver a secure energy supply to the capital, and by using sustainable technology we are minimizing the environmental impact of our operations to support the transition to Net Zero.""Following the successful collaboration with National Grid on the world's first replacement of SF (1) in existing high-voltage equipment and award-winning(2) project in Richborough, UK, we are proud to be supporting National Grid again in its transition to SF6-free solutions," said Markus Heimbach, Managing Director of the High Voltage Products business at Hitachi Energy. "The EconiQ GIS is based on our breakthrough SF6-free 420 kV circuit-breaker that demonstrates the reliability and scalability of the technology for the lowest carbon footprint.""Linxon is building the infrastructure to power the world with carbon free energy. Thanks to strong collaboration with Hitachi Energy, Linxon is able to provide the pioneering EconiQ SF6- free solution from Hitachi Energy for the Bengeworth substation, supporting our client to meet their sustainability targets," said Stefan Reisacher, CEO of Linxon.EconiQ is Hitachi Energy's eco-efficient portfolio for sustainability, where products, services and solutions are proven to deliver exceptional environmental performance. Hitachi Energy has placed sustainability at the heart of its Purpose and is advancing a sustainable energy future for all. EconiQ website:www.hitachienergy.com/sustainability/econiq(1) bit.ly/3GbpvJZ(2) www.theenergyawards.com/ene/en/page/winners-2022About Hitachi Energy Ltd.Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world's energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD. www.hitachienergy.comwww.linkedin.com/company/hitachienergy https://twitter.com/HitachiEnergyAbout Hitachi, Ltd.Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company's consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at www.hitachi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Origis Energy and Mitsubishi Power to Bring Battery Energy Storage Projects to the Southeast United States JCN Newswire

Origis Energy and Mitsubishi Power to Bring Battery Energy Storage Projects to the Southeast United States

December 21, 2022
MIAMI and LAKE MARY, Fla., Dec 21, 2022 - (JCN Newswire via SEAPRWire.com) - Origis Energy, one of America's largest solar and energy storage developers, has contracted Mitsubishi Power Americas to deliver three utility-scale battery energy storage system (BESS) projects totaling 150 megawatts / 600 megawatt hours. The projects will be co-located with three Origis Energy photovoltaic solar facilities in the Southeast United States to reduce curtailment of excess solar generation which will enable greater efficiency and higher capacity of the sites.Origis will use the Mitsubishi Power Emerald storage solution for the three projects, successively coming online over the next two years. Origis has pioneered large-scale solar in the Southeast, working with leading utilities, municipalities and electric cooperatives to deploy over 1.5 gigawatts of operational and contracted projects in the region. The company's U.S. total for operational and contracted solar and BESS projects is over 4 GWs. Energy storage enables Origis to add grid services to renewable energy generation. Consequently, Origis has 2.3 gigawatt hours (GWh) of BESS projects contracted or in negotiation with 13.7 GWh currently being developed.Origis and Mitsubishi Power Energy StorageRepresentative illustration of the solar with storage project, including solar energy and battery energy storage system clean energy solutions. (Credits: Origis Energy and Mitsubishi Power)"Storage of renewably generated power is an increasingly important grid asset," said Kenneth Kim, Vice President, Engineering & Strategy Planning, Origis Energy. "By adding the BESS solution to these facilities, we increase the value of the asset, adding enhanced grid solutions to clean, cost-effective solar power. We thank Mitsubishi Power for their collaboration on these projects, creating long term benefits for our customers."The BESS projects will employ Mitsubishi Power's Emerald Integrated Plant Controller - an Energy Management System (EMS) and Supervisory Control and Data Acquisition (SCADA) system - that instructs the BESS when to charge and deploy, monitors status, sends alarms and alerts, and enables long-term data storage."The Emerald storage solution technology we're delivering for Origis follows rigorous NERC CIP and IEC 62443 Security Development Lifecycle Process policy and processes aligned to industry best practices," said Alejandro Schnakofsky, Vice President of Global Strategy, Energy Storage Solutions, Mitsubishi Power Americas. "It is imperative in everything we do to protect energy systems and operators with the strongest level of cybersecurity possible."Mitsubishi Power has more than 2.5 GWh of utility-scale BESS projects in various stages of deployment globally that increase renewable efficiency, capacity, and flexibility.Read more about some of Mitsubishi Power's BESS projects:- Mitsubishi Power's Emerald Storage Solutions to Help SDG&E Power Critical Public Services (https://power.mhi.com/regions/amer/news/20220811)- ION Renewables Signs Exclusivity Agreement to Bring Mitsubishi Power's Emerald Storage Solutions to Ireland (https://power.mhi.com/regions/amer/news/20220623)- Innergex Orders Mitsubishi Power Emerald Storage Solution to Bring 425 Megawatt-hours of Battery Storage to Chile (https://power.mhi.com/regions/amer/news/20220510)- San Diego Gas & Electric Orders Mitsubishi Power Emerald Storage Solution to Add Capacity for High Energy Demand (https://power.mhi.com/regions/amer/news/20220317)About Origis EnergyOrigis Energy is bringing clean and cost effective solar and energy storage solutions within reach for utility, commercial and industrial as well as public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in 170 projects worldwide totaling more than 5 GW to date of developed solar and energy storage capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar and energy storage development, financing, engineering, procurement and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers in the US. Visit us at www.OrigisEnergy.com.About Mitsubishi Power Americas, Inc.Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power's power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world's leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Hitachi Energy to help French city of Clermont-Ferrand electrify its bus network and progress towards carbon neutrality JCN Newswire

Hitachi Energy to help French city of Clermont-Ferrand electrify its bus network and progress towards carbon neutrality

December 20, 2022
ZURICH, SWITZERLAND, Dec 20, 2022 - (JCN Newswire via SEAPRWire.com) - Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, recently announced it has won an order to supply its Grid- eMotion Flash ultrafast charging system for the two busiest bus routes in the city of Clermont- Ferrand, central France.Grid-eMotion Flash was the first choice of the city's public transportation operator, SMTC-AC, which requires a fast, efficient, reliable and safe charging system that will help persuade motorists to leave their cars at home and use emission-free public transportation instead.Grid-eMotion Flash is part of the city's InspiRe(1) program to create sustainable urban mobility and reduce emissions, congestion and noise in the metropolitan area. It includes 40 new ebuses, dedicated bus lanes to shorten passenger journeys, very short intervals between buses in timetables, and no interruptions in bus services due to discharged batteries. As a result, SMTC-AC aims to raise passenger satisfaction and significantly increase the number of passenger journeys from 32 million today to 52 million by 2032(2). The new electric transportation system, integrated into a complex urban environment, will reduce CO2 emissions by around 5,000 tons a year.Grid-eMotion Flash - Hitachi Energy's ultrafast charging system - is enabling cities to reduce the environmental pollution of their transit systems without affecting passenger capacity or journey times. It flash-charges buses within seconds at selected stops, with ultrafast top-up charging during short rests at the route terminus and the depot."We are delighted to have won this prestigious order to help one of France's historic cities switch from fossil-fueled public transportation to emission-free electric buses," said Niklas Persson, Managing Director of Hitachi Energy's Grid Integration business. "We share the same vision and values as Clermont-Ferrand - that electric public transportation leads to a sustainable energy future and a better quality of life for the people who live and work in the city."Grid-eMotion Flash is part of the electric transportation system in Nantes, France, which earlier this year won the industry's highest award for operational and technological excellence from UITP, the leading global trade organization for public transportation(3). The Nantes flash charging system has also been featured by the BBC in its Humanising Energy(4) series on innovation in the world of energy.Hitachi Energy was awarded the order by ebus manufacturer HESS of Switzerland. The two companies have previously collaborated on ebus and flash charging solutions for Brisbane in Australia, Geneva in Switzerland and Nantes in France. Grid-eMotion solutions are already operating or under development in Australia, Canada, China, India, the Middle East, the United States and several countries in Europe.The Grid-eMotion portfolio includes Grid-eMotion Fleet, a grid-code compliant and space- saving grid-to-plug charging solution that can be installed in existing depots and scaled flexibly as the fleet gets greener. It comprises a robust and compact grid connection and charging points, and is available for buses and commercial vehicle fleets, including last-mile delivery and heavy-duty trucks that require high power charging of several megawatts.Both Flash and Fleet are equipped with configurable smart charging digital platforms that can be embedded with larger fleet and energy management systems. Additional offerings from Hitachi Energy for electric vehicle charging systems include e-mesh energy management and optimization solutions and Lumada APM, EAM and FSM solutions to help transportation operators make informed decisions that maximize uptime and improve efficiency.In the past year, Hitachi Energy has won orders from customers and partners all over the world for its smart charging portfolio - a sign that Grid-eMotion is changing the e-mobility landscape for electric buses and commercial vehicles.Hitachi Energy websiteGrid-eMotion portfolio: bit.ly/3FJExVSGrid-eMotion Flash: bit.ly/3WaNGhrGrid-eMotion Fleet: bit.ly/3YypM0O (1) InspiRe: https://inspire-clermontmetropole.fr/(2) Figures supplied by SMTC-AC(3) bit.ly/3PGy0Qj(4) www.bbc.com/storyworks/humanising-energy/charging-forcesAbout Hitachi Energy Ltd.Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world's energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 40,000 people in 90 countries and generate business volumes of approximately $10 billion USD.www.hitachienergy.comwww.linkedin.com/company/hitachienergyhttps://twitter.com/HitachiEnergyAbout Hitachi, Ltd.Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company's consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Samaiden Group Signs Agreement to Explore Cambodia Venture ACN Newswire

Samaiden Group Signs Agreement to Explore Cambodia Venture

December 19, 2022
PETALING JAYA, Malaysia, Dec 19, 2022 - (ACN Newswire via SEAPRWire.com) - Samaiden Group Berhad (Bursa: SAMAIDEN, 0223), a clean energy solution specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power, is pleased to announce that the Group's wholly-owned subsidiary, Samaiden Sdn Bhd, has signed a partnership agreement with Management Venture Asia (Cambodia) Ltd. (MVA) today, to explore the clean energy-related business opportunities in Cambodia.Group Managing Director of Samaiden, Ir. Chow Pui HeeDirector of MVA, H.E. Salah EssaMVA, a business consultancy and clean energy project developer based in Phnom Penh, Cambodia is primarily engaged in facilitating business ventures and taking products to market and market research throughout Asia. The company has successfully completed the development of 20MW ground mounted solar project in Bavet, in which the project was awarded power purchase agreement by the Electricite du Cambodge in August 2019.Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "We're looking forward to the collaboration with MVA given their strong presence in Cambodia. Expanding in Southeast Asia is part of our 5-years plan given the region's growing population and its geographical advantages.""We firmly believe the partnership with MVA will ensure our expansion plans in Cambodia are focused. We are honoured to have MVA as our business partner in the development of clean energy in the country given its vast experiences and network in clean energy infrastructure.The Director of MVA, H.E. Salah Essa quotes, "We are looking forward to this collaboration with Samaiden in the renewable and sustainable energy businesses in Cambodia and hope to draw on their industry experience and skills to make this venture successful for nation growth and aligning with country goal towards Net Zero Carbon policy 2050."Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Mitsubishi Power, Government and Industry Leaders Discuss Energy Security and Transition at 2022 Gas Turbine Technical Seminar in Bangladesh JCN Newswire

Mitsubishi Power, Government and Industry Leaders Discuss Energy Security and Transition at 2022 Gas Turbine Technical Seminar in Bangladesh

December 13, 2022
Singapore, Dec 13, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, has kicked off its 2022 Gas Turbine Technical Seminar in Bangladesh. Set to take place in Dhaka from 11-12 December 2022, the two-day event aims to discuss the latest solutions and services in the power generation industry to advance energy security and decarbonization.Present at the conference were Md. Habibur Rahman, Honorable Secretary, Power Division, Ministry of Power, Energy and Mineral Resources, Bangladesh; Engr. Md Mahbubur Rahman, Chairman of Bangladesh Power Development Board; Mr. Tatsuya Machida, (Deputy Chief of Mission), from the Japan Embassy and Osamu Ono, Managing Director, Chief Executive Officer, Mitsubishi Power Asia Pacific; amongst others.The event, attended by around 200 government representatives, industry leaders and local partners, includes dedicated user sessions and presentations by Mitsubishi Power's technical experts that deep dive into Mitsubishi Power's industry leading solutions and services - from decarbonization technologies such as hydrogen and ammonia co-firing, to enhancement of the reliability and performance of gas turbines.Md. Habibur Rahman, Honorable Secretary, Power Division, Ministry of Power, Energy and Mineral Resources, Bangladesh; Engr. Md Mahbubur Rahman, Chairman of Bangladesh Power Development Board; and Mr. Tatsuya Machida, (Deputy Chief of Mission), from the Japan Embassy - together with Osamu Ono, Managing Director and Chief Executive Officer, Mitsubishi Power Asia Pacific - graced the opening ceremony. The dignitaries gave speeches underscoring the importance of partnership across nations, sectors and industries to support Bangladesh's transition to cleaner energy while maintaining energy security, accessibility and affordability."Bangladesh was the first Asia Pacific country where Mitsubishi Power successfully delivered a steam turbine back in 1960. Since then, we have remained committed to our mandate and today, are responsible for approximately 20% of Bangladesh's total energy production. The country has immense potential for growth, fueled by progress in its power sector. Together with our valued partners and customers, we are committed to supporting Bangladesh in realizing its energy needs and achieving net zero emissions," said Osamu Ono, Managing Director and Chief Executive Officer, Mitsubishi Power Asia Pacific.During his speech at the opening ceremony, Md. Habibur Rahman shared that after achieving the target of 100% electricity supply across the country, their transitional goal is to ensure affordable, better quality and uninterrupted power supply to all. They hope that Mitsubishi Power will work with them in achieving the target of 40,000 megawatt power generation by 2030. Mr. Rahman also highlighted interest in hydrogen technology, citing Bangladesh's 'Mujib Climate Prosperity Plan' that seeks cleaner, renewable energy sources such as green hydrogen and blue hydrogen.Engr. Md Mahbubur Rahman stated that Mitsubishi Power has been partnering with the government of Bangladesh for more than two decades, helping the country in achieving long-term power supply. Bangladesh has started hydrogen-based power generation, which will play an important role in reducing carbon emissions. He expressed hopes that through this, Mitsubishi Power will play a special role in strengthening the partnership with the government towards achieving the country's energy needs and the goal of zero carbon emission.Mitsubishi Power's gas turbines support Bangladesh's power grid at five power plants across the country. Its M701F gas turbine was installed in Haripur as the first large-class gas turbine in Bangladesh and one of the most efficient and reliable in the country since 2014. These power plants are complemented by after-sales and operations and maintenance services to ensure that plants remain efficient and support a constant supply of electricity across the country.For more information and latest updates on the 2022 Mitsubishi Power Gas Turbine Technical Seminar in Bangladesh, follow Mitsubishi Power Asia Pacific LinkedIn page.About Mitsubishi PowerMitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Across more than 30 countries worldwide, Mitsubishi Power designs, manufactures and maintains equipment and systems that drive decarbonization and ensure delivery of reliable power around the world. Among its solutions are a wide range of gas turbines including hydrogen-fueled gas turbines, solid-oxide fuel cells (SOFCs), and air quality control systems (AQCS). Committed to providing exemplary service and working with customers to imagine the future of energy, Mitsubishi Power is also spearheading the development of the digital power plant through its suite of AI-enabled TOMONI solutions.For more information, please visit https://power.mhi.com. Press Contact:For Mitsubishi Power Asia Pacific Pte. Ltd.Corporate Communication DepartmentMitsubishi Heavy Industries, Ltd.Email: mediacontact_global@mhi.comSophia WeeAPAC CommunicationsMitsubishi Power Asia PacificEmail: sophia.wee.3z@mhi.com Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Korean Startup CloudN Enters Thai Energy Management Market with Support from South Korean Government SeaPRwire

Korean Startup CloudN Enters Thai Energy Management Market with Support from South Korean Government

December 2, 2022
Seoul, Korea, December 02, 2022 – (SEAPRWire) – Korean startup CloudN Co., Ltd., which is working towards a sustainable future with its ‘Building Energy Management System,’ announced that it has entered the Thailand market with support from the Korean government and NIPA (National IT Industry Promotion Agency). CloudN hosted a demonstration session on the application of its energy management platform on November 23rd at the Carlton Hotel in Bangkok, Thailand. About 40 domestic and foreign officials attended the session, including personnel representing BJC Group, Asset WORLD Corporation, Digital Economy Promotion Agency (DEPA) of Thailand, National IT Industry Promotion Agency (NIPA) and Korea Trade-Investment Promotion Agency (KOTRA). CloudN’s project is promoted as part of the Korean government program to support the growth and global expansion of excellent Korean SMEs in the D.N.A. (Data, Network, and AI) fields, helping them more easily enter overseas markets through partnerships with large corporations in Korea. The pilot services and the commercialization of energy management technologies were conducted for buildings in Thailand. CloudN completed the construction of an energy management platform and is operating it at the Big C Extra Ladphrao stores in Bangkok, Thailand, through collaboration with MiraeBM, an energy-savings company, and Han Jung Engineering, an automatic control company. The introduction of the platform at Big C stores is expected to reduce electric energy usage by 15% per year, reducing energy costs by KRW 150 million per store and KRW 23 billion per year for 150 stores. As a 30% increase in electricity bills is expected in Thailand next year, after the demonstration session, there was a signing of a business agreement to conduct a Proof of Concept (PoC) in the first half of next year to introduce 1,500 air conditioner management technologies at mini BigC convenience stores operated by BJC Group. The Building Energy Management System, or BEMS, is a state-of-the-art ICT system that collects and analyzes energy usage data in real time through sensors attached to main spaces and facilities in buildings to reduce energy consumption and maintain a pleasant indoor environment. The global BEMS market is growing by more than 19% annually. The growth center of the market is shifting from North America to Asia, with the Asian market growing at an annual rate of more than 30%. However, despite these circumstances, the introduction of BEMS to existing buildings has been scarce, and most of them are limited to the new public building market. CloudN’s specialized “BEMS” is attracting attention because it is easy to install in existing buildings, and it plans to explore markets in other Southeast Asian countries, such as Vietnam and Indonesia, which have high energy costs due to weak energy infrastructure. Media contact Brand: CloudN Contact: Sang-Su, Jeon, Team Manager Email: jssjss1@icloudn.net Website: https://icloudn.net/en/ SOURCE: CloudN The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
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Fully Charged Wuling Motors Sets Sail On Completion of the Restructuring of New Energy Business

December 1, 2022
HONG KONG, Dec 1, 2022 - (ACN Newswire via SEAPRWire.com) - It was recently known to us that Wuling Motors (00305. HK) had completed the capital increase into Wuling New Energy. Wuling Motors, capitalized from the restructuring as an important participant, will expedite its in-depth deployment in the field of new energy vehicles in promoting a robust and comprehensive development in the new energy business.After the restructuring, Wuling New Energy would integrate the resources from the group companies of Wuling Motors and focuses on R&D, manufacturing, and sales of new energy vehicles. According to public information, Wuling New Energy has a respectable performance in the domestic market. At present, it has the second-largest market share in the market segment of new energy logistics vehicles. The plug-in hybrid new model G200, for the commercial and multi-purpose segment market, is expected to be launched in early 2023. As regards the international market, Wuling New Energy also performs well. On 2 September 2022, Wuling New Energy delivered a pure electric logistics vehicle prototype to Japanese clients and successfully entered into agreement for mass production. The pure electric logistics vehicle is expected to commence mass production by the end of April 2023 with a target sale volume of 100,000 vehicles in five years.Not long after Wuling New Energy appears in the public eye, good news continues to come out. It can be seen that the integration of prime assets and resources has given Wuling New Energy a solid operating foundation. Relevant resources revealed that Wuling New Energy products have already developed a product pipeline with a batch of products being launched or ready to be launched to the market, a batch of products under research and development, and a batch of products under the design and planning process. In essence, a spectrum plan of products has been initially constructed, which could allow Wuling New Energy to capture the tremendous future market potential under this promising environment for the new energy vehicle industry. It is worth mentioning that, according to the Letter of Intent relating to the capital injection project to Wuling New Energy released in December 2021, Wuling Motors has intention to become the controlling shareholder of Wuling New Energy by further capital increaser based on its development. Given that Wuling Motors and Wuling New Energy are both subsidiaries of the Guangxi Automobile Group, the development would be sensible if further capital increase can bring long-term benefits to both parties. Overall, with the ample business opportunities provided by the new energy vehicle business, the close cooperation between Wuling Motors and Wuling New Energy in promoting business bestowed upon their own strengths and capabilities will be beneficial to the business operation and development of both. It can be expected that the better Wuling New Energy develops, the more opportunities and sustainable benefits Wuling Motors can enjoy.Indeed, since Wuling Motors announced its restructuring plan in December 2021, it has attracted great attention from the market. According to the relevant news, a smooth kick start of the operation of Wuling New Energy would bring about favourable market responses, which in turn would benefit Wuling Motors from realizing its business strategic layout with promising growth potential. Furthermore, completion of the restructuring would also allow Wuling Motors Industrial Company Limited to transfer the related R&D expenditure on new energy vehicles to Wuling New Energy, from which the R&D costs would be substantially reduced and resources and energy could be more effectively deployed in developing more competitive core component products. At the same time, Wuling Motors Industrial, being a strategic key supplier to Wuling New Energy, together with its keeping of the export business will continue to serve as a solid and steady growth driver in contributing to the business performance of Wuling Motors.Essentially, Wuling Motors has already actively expanded the new energy parts industry, including various types of new energy electric rear axles, motors, electronic controls, hybrid power systems, and other products. Sales volume of electric motors and electronic controls has just exceeded the volume of 10,000 units. Recently, Wuling Motors Industrial has also celebrated the milestone of the production of the one-millionth car-axle component for new-energy vehicle, impressively making it the first enterprise in China in reaching the 1,000,000 units of the miniature integral electric rear axle in less than three years period. In terms of hybrid-power systems, Wuling Motors has successfully developed its hybrid power system products for new energy vehicles, achieving a reduction in fuel consumption of more than or equal to 30% as compared with the same type of traditional fuel power vehicles. The high thermal efficiency Atkinson engine was first mass-produced in April this year, and shortly after the high-efficiency and cost-effective HEV hybrid powertrain was also mass-produced in June, which signified an important step in the transformation and upgrades from traditional fuel vehicle power to new energy vehicle hybrid power. It can be seen the profound R&D and innovation capabilities and strong production and manufacturing capabilities of Wuling Motors would undoubtedly enable it to become a key and well-deserved strategic supplier to Wuling New Energy.The participation of Wuling Motors in the restructuring of Wuling New Energy has not only accelerated the strategic layout of the new energy vehicle field, but also allows Wuling Motors to be more focus on the research and development of automotive components for the new energy vehicles, which represents virtually a full coverage of the entire industry chain of new energy vehicles.Wuling New Energy is now integrated with the prime assets and resources of the group companies of Wuling Motors for enhancing its strengths in the field of new energy vehicles, while the re-positioned Wuling Motors in the new energy business segment is also fully charged with power. The road ahead could be a new era of growth and development. On the back of the favourable government policies with huge market opportunities for grasping, we would wait and see whether Wuling Motors can be succeeded in beating the targets when turning this corner of the race track. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Mitsubishi Heavy Industries Engineering to be Integrated into MHI JCN Newswire

Mitsubishi Heavy Industries Engineering to be Integrated into MHI

November 30, 2022
TOKYO, Nov 30, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG) have agreed to integrate the business operations of MHIENG with those of MHI effective April 1, 2023. Under an absorption-type split arrangement, operations currently conducted by MHIENG will be taken over by MHI and placed under the direct management of MHI's president and CEO. The integration of MHIENG into MHI will further accelerate the "Energy Transition" that serves as one of MHI Group's central growth engines.In its 2021 Medium-Term Business Plan released in October 2020, MHI Group announced plans to substantially increase its corporate value by 2030 with "Energy Transition" and "Smart Infrastructure (New Mobility & Logistics)" serving as the Company's two growth engines. In striving to strengthen its Energy Transition business, development of a CO2 solutions ecosystem is a component of major importance. Today, carbon capture, utilization and storage (CCUS) is garnering attention as an effective means for realizing a carbon neutral society. Also, ammonia is recognized to be effective both as a fuel for ships and thermal power plants, where its usage results in reduced carbon emissions, and as a means for transporting hydrogen, and the market for ammonia is expected to grow sharply in the coming years. In response, MHI is now pursuing a broad array of initiatives for establishing markets for carbon-free hydrogen and ammonia, including development of a hydrogen ecosystem and partnering with external incubation investments. The Company is also fortifying its capabilities in integrating multiple product areas.MHIENG was launched in January 2018 as an MHI Group company. Today it provides world-class technologies in the engineering, manufacture, procurement, construction, marketing and after-sale servicing of chemical plants, transportation systems, carbon capture systems, etc. Furthermore, besides its prowess in carbon capture technologies, MHIENG has abundant experience in applications involving ammonia and hydrogen. Following its integration into MHI, MHIENG's project management capabilities in chemical plants and transportation systems, together with its core technologies in value chain development, will be organically combined with MHI's technologies. The resulting comprehensive capabilities will further accelerate MHI Group's solutions businesses in both Energy Transition and New Mobility & Logistics.Through the forthcoming integration, MHI Group will further contribute to making effective use of resources and reducing environmental impacts, continuing the challenge to achieve a carbon neutral society.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Genetec’s Q2FY2023 Performance Remains on Track ACN Newswire

Genetec’s Q2FY2023 Performance Remains on Track

November 29, 2022
BANGI, Malaysia, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced their quarterly performance to date for their second financial quarter for the financial year ended 31 March 2023 (Q2FY2023). The Company recorded a surge in its profit after tax (PAT) of RM25.7 million representing a 57.7% jump compared to RM16.3 million registered for the corresponding quarter of the preceding year due to higher revenue and managed cost.Genetec registered RM28.0 million in profit before tax (PBT) for the quarter under review, which is 59.1% higher than the PBT of RM17.6 million recorded for Q2FY2022 while revenue of RM70.7 million is 19.2% higher than the RM59.3 million posted in Q2FY2022. Earnings per share stood at 3.59 sen (fully diluted) in the same quarter compared to EPS of 2.33 sen in the corresponding quarter.Genetec highlighted, "On the macro level, 2022 continues to be an exciting year. We have been building on our momentum and diversifying our portfolio in electric vehicle (EV) and energy storage segments. These efforts are yielding results which will come through in the coming quarters. All segments in our portfolio continue to grow with segment contributions remaining consistent with the preceding quarter. Genetec remains focused to build on and deepen our share-of-wallet with existing clients. Efficiency, quality and flexibility continue to be key whilst we actively participate in new bids to expand our client list. With the additional 100,000 square feet (sf) floor space, we are adding capacity to cater to our growing pipeline."Their recent exclusive collaboration with diversified infrastructure and energy conglomerate, Citaglobal Berhad will see Genetec supplying end-to-end battery energy storage management systems (BESS) solutions to designated project sites in different states across Malaysia over a multi-year period. The Company's role covers research and development, design and build and on-site installation and maintenance."Looking ahead, the world's efforts to halve its carbon footprint by 2030 and achieve its net zero carbon target by 2050 will drive energy convergence and investments in renewable energy (RE) technology. New energy storage capacity is expected to be added globally between 2022 and 2030 as companies and countries transition towards clean or RE. Expectations are for RE to provide 65% of the world's total electricity supply by 2030, with a massive 90% decarbonisation of the power sector by 2050[1]. By the end of the decade, United States and China are expected to continue to be the two biggest markets, accounting for more than half of all RE storage installations worldwide[2]. On the EV sector, we will continue to expand our performance and increase our capacity to achieve new heights", highlighted Genetec.About Genetec Technology BerhadGenetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad (Stock code: 0104) since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the Electric Vehicle (EV), Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors. For more information on Genetec, please visit www.genetec.net.[1] Source: Energy Outlook 2023, United Nations https://www.un.org/en/climatechange/raising-ambition/renewable-energy[2] Source: Global Energy Storage Market to Grow 15-Fold by 2030. https://tinyurl.com/mw6tzuk6 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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SEA Solar & Energy Storage Market is Ready to Take Off ACN Newswire

SEA Solar & Energy Storage Market is Ready to Take Off

November 29, 2022
BANGKOK, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - SEA's 2025 target to have 35% of total power capacity from renewable energy sources is expected to be supported by the strong solar and Energy Storage sector growth. How exactly should the quota availability be matched?Energy Box is organizing Solar Energy Storage Future SEA 2022 scheduled on December 6, 2022. The congress will invite the ASEAN government, local power companies, leading companies with the most development experience, qualifications and investment intentions in SEA, and 600+ professionals to share SEA's solar and Energy Storage project development strategies, and jointly analyze the future development of solar and Energy Storage markets. Including cutting-edge trends in its new energy market.Event details:Place: Bangkok, ThailandEvent access: www.energy-box.com/congress-sea-2022Honored Speakers (confirmed/inviting)1. Ruth P Briones,Chairman and CEO at Greenergy Solutions Inc.2. Teerasak Ne, Project Manager at EDL Gen Solar Laos3. Akarin Suwannarat,Special Assistant to CEO / EVP at Energy Absolute PCL (EA)4. Davide Pacheco,CEO Asia Pacific and Board Member at Amarenco5. Daniel Gaefke, APAC Director at BayWa r.e.6. Vincent Bakker, Chief Financial Officer at Entoria Energy7. Jack Kneeland, Partner at Vector Energy Advisory8. Michiel Prompers, Managing Partner at Green Horizon Capital Partners9. Franck Constant,CEO at Constant Energy10. Rassa Herabat , Head of Asset Management and RE Project Manager, Investment Department at Prime Road Power11. Sophie Horak,Team Lead Business Development & Sales bei meteocontrol12. Bancha Yathip, Assistant Project Director ที่ Gunkul Engineering Public Company Limited 13. Joseph Tomkiewicz, Partner , Co-Chair Energy Industry at Tilleke & Gibbins14. Chinnawat Pama,Solar Power Team Lead | Renewable Energy Consultant at Mott MacDonald15. Jerin Raj，Director-South East Asia at Black & Veatch16. Khomson Khenyotha,Country Head - Thailand, TotalEnergie Distributed Generation Asia at TotalEnergies17. Pasamon Pechrasuwan Principal Consultant & Associate Fellow at Frost & Sullivan Asia-Pacific18. Dzung Khoa Nguyen , Managing Director at INPOS Co., Ltd.19. Ibrahim Kocagoz, Engineering Solutions Director at PCS Thailand20. Assco. Prof. Dr. Wirachai Roynarin,Founder and Exclusive Committee at Thailand Renewable Energy for Community Association(TRECA)About Energy BoxEnergy Box is one of the largest vertical international media companies, dedicated to renewable energy(solar, wind, energy storage, green hydrogen). Business: Pan Europe, Africa & Middle Eats, LATAM and Asia. Currently we have had 40+ events , sales consulting, projects development, financing, meetings, interviews and peer to peer services.- Daily Emailings: 100,000+ - Social Media Blasts: 2 million impressions( Globally)Energy Box Linedin: www.linkedin.com/company/energyboxexpo/mycompany/?viewAsMember=true Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Pertamina to balance energy transition, security in net zero push ACN Newswire

Pertamina to balance energy transition, security in net zero push

November 17, 2022
JAKARTA, Nov 17, 2022 - (ACN Newswire via SEAPRWire.com) - The energy transition process must take place in order to maintain sustainability, chair of the Energy, Sustainability, and Climate Business 20 (TF ESC-B20) Task Force, Nicke Widyawati, has said.Chair of Task Force Energy, Sustainability, and Climate B20, Nicke Widyawati, during the 4th Task Force Energy, Sustainability, and Cimate Call Meeting of B20 Indonesia 2022 held in Jakarta on Tuesday (May 24, 2022). (ANTARA/HO-Pertamina)During a "BloombergNEF (BNEF) Net Zero Summit" discussion initiated by the Coordinating Ministry for Maritime Affairs and Investment and the Asia Natural Gas and Energy Association (ANGEA), Widyawati, who is also the CEO and president director of state-owned energy company Pertamina, said that the energy transition process is a part of B20 activities.During the discussion, she emphasized that the energy transition cannot be achieved in a short time."The process requires various kinds of technology, costs, and human resources that can reach the standards of renewable energy," she explained.When the energy transition process occurs, the demand for energy will also increase, she pointed out. Thus, energy security on a large scale will need to be maintained.Widyawati then described several strategies carried out by Pertamina to overcome the challenges faced in balancing efforts to realize the energy transition for sustainability, including net zero emissions, with measures to maintain energy security."To achieve net zero emission (NZE) aspirations while maintaining energy security in Indonesia, Pertamina has developed some comprehensive strategies that are delivered through two main pillars and three medium-term strategies," she informed.The two main pillars are focusing on decarbonizing business activities and assets and developing new renewable green energy businesses.Meanwhile, the first of the three medium-term strategies carried out by Pertamina to support NZE realization involves developing its carbon accounting standards to meet national and international standards.The second strategy involves stakeholder engagement to fully support the achievement of national NZE targets, which will be supported by the company's long-term investments.The third strategy involves the company's environmentally friendly sustainability business initiatives that will focus on biofuels, renewable energy sources, carbon capture storage (CCS/CCUS), batteries and electric cars, hydrogen, as well as self-sustaining carbon businesses.Moreover, Pertamina has also developed a strategy to support the energy transition by allocating its capital expenditure (capex) for low emission energy and developing new renewable energy (NRE)."We have set a goal to increase the green business portion in Pertamina's revenue, which is from 5 percent in 2022 to 13 percent by 2030," Widyawati said while providing details on the company's share of capital costs for green energy.The company has also predicted that its fossil fuel revenues will decline significantly from 86 percent in 2022 to 66 percent by 2040.Furthermore, she highlighted that the goal of optimizing the capital allocation for green businesses has been coordinated by Pertamina with the government to ensure that the measures taken align with the national energy mix target for new renewable energy.To balance financing, Pertamina has also made a long-term investment strategy, which has included the allocation of 14 percent of its capex for green energy business activities.In addition, the company will continue to invest in fossil fuels and petrochemicals as the backbone of its current business in an effort to ensure that the energy transition process does not disrupt energy security.Apart from the capital investment strategy, Pertamina is also collaborating with various parties to accelerate the achievement of green energy targets.Contact: Heppy Wulansari, Pjs. Vice President Corporate Communication, PT Pertamina (Persero)Mobile: +62 811-296-949, Email: heppy@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Sri Haryati (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Pertamina Geothermal Energy (PGE) to increase GPP in South Sumatra to support NZE in Indonesia ACN Newswire

Pertamina Geothermal Energy (PGE) to increase GPP in South Sumatra to support NZE in Indonesia

November 16, 2022
JAKARTA, Nov 16, 2022 - (ACN Newswire via SEAPRWire.com) - PT Pertamina Geothermal Energy (PGE) expressed readiness to increase the geothermal power plant (GPP) capacity in South Sumatra in a bid to support the realization of net zero emission (NZE) in Indonesia.President Director of Pertamina Geothermal Energy (PGE) Ahmad Yuniarto signs an agreement for "Engineering, Procurement, Construction, and Commissioning (EPCC) for the construction of the Fluid Collection and Reinjection System (FCRS) and Geothermal Power Plant at Lumut Balai Unit 2 in South Sumatra" with Mitsubishi, and Sepco/WIKA at the Business 20 (B20) Investment Forum held in Bali on November 11, 2022. (ANTARA/HO-PT Pertamina)This step to increase the GPP capacity is taken through the inking of an agreement for Engineering, Procurement, Construction and Commissioning (EPCC) for the construction of a Fluid Collection and Reinjection System (FCRS) and Geothermal Power Plant at the Lumut Balai Unit 2 in South Sumatra.The agreement signing was conducted by PGE with Mitsubishi Corporation Consortium, PT Wijaya Karya, and SEPCO III Electric Power Construction Co. Ltd on the sidelines of the B20 Indonesia Net Zero Summit 2022 event held in Bali on Friday (November 11).The project for the construction of FCRS and geothermal power plant in South Sumatra is funded by Japanese Official Development Assistance (ODA) Loans under the Government to Government (G-to-G) Loan scheme with the Government of Indonesia.The project site is located in the districts of Muara Enim and Ogan Komering Ulu in South Sumatra Province.The contractual scope of the project will be a turn-key basis on which PGE partners will carry out the design, manufacturing, civil works construction, commissioning, performance testing and warranty for the facility that consists of a Geothermal Power Unit and an FCRS, with a net capacity at high-voltage terminals of 55 Megawatts (MW).The geothermal facility is designed to be operational for more than three decades and will be operated and maintained by PGE.The electricity generated from the clean, renewable and environmentally friendly energy facility will be channeled through the installations of the state-owned electricity company PLN, so that it has the potential to increase the number of new residents receiving electricity to reach around 55 thousand households in South Sumatra.Moreover, the working area at the Lumut Balai GPP Unit has proven to have good-quality environmental management with the achievement of Pertamina Environment Regulation Compliance Assurance (PERCA) and the Blue category for Company Performance Rating Program in Environmental Management (PROPER) from the Ministry of Environment and Forestry.In accordance with the theme of the 2022 Indonesia Net Zero Summit "Industrial Decarbonization at All Cost," the effort to increase GPP capacity is one of Pertamina's concrete measures in supporting sustainable development proclaimed by the Indonesian government.The effort was also aimed at mitigating the impacts of global warming by reducing carbon emissions in the environment.Greenhouse gas reductions from the GPP Project at Lumut Balai Unit 1 and 2 are included in the Clean Development Mechanism (CDM) as an implementation of the Kyoto Protocol. It has also been registered with the UNFCCC, with the potential for reducing greenhouse gas emissions of around 581,518 tons of CO2 equivalent per year.GPP capacity of 55 MW, which will be generated from Unit 2 of the GPP in the province, will increase PGE's total installed GPP capacity, after earlier some 55 MW generated from the Lumut Balai Unit 1 Project that became operational in 2019.The new unit will further strengthen PGE's position as one of the largest players in Indonesia's geothermal development, with a total installed capacity of 727 MW.PGE's President Director Ahmad Yuniarto explained that in carrying out its business, PGE remains committed to the development of geothermal energy and ensures that the implementation of the Environment, Social and Governance (ESG) aspects is an integrated part of the company's geothermal energy business line.The implementation of the ESG aspects is the company's effort to provide added value and to support the national programs related to the use of environmentally-friendly new and renewable energy, especially geothermal energy, he remarked.PGE's commitment in developing geothermal energy can contribute to achieving several targets in sustainable development goals (SDGs): Goal No.7 on clean and affordable energy, Goal No.12 on responsible construction and production, Goal No.13 on handling climate change, and Goal No.15 on land ecosystems.PGE currently manages 13 Geothermal Working Areas, with an installed capacity of +1.8 Gigawatts (GW).A total of 672 MW of geothermal capacity is operated and managed directly by PGE, and some 1,205 MW is managed under the Joint Operation Contract scenario.Geothermal energy capacity from power plants in PGE's working areas contributes 82 percent of the total geothermal energy capacity produced in Indonesia and has the potential to contribute to the reduction of carbon dioxide emissions of around 9.7 million tons of CO2 per year.Contact: Muhammmad Baron, Corporate Secretary, PT Pertamina Geothermal EnergyMobile: +62 8 1117 1720, Email: muhammad.baron@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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PGE to increase GPP capacity in South Sumatra for NZE ACN Newswire

PGE to increase GPP capacity in South Sumatra for NZE

November 16, 2022
JAKARTA, Nov 16, 2022 - (ACN Newswire via SEAPRWire.com) - PT Pertamina Geothermal Energy (PGE) expressed readiness to increase the geothermal power plant (GPP) capacity in South Sumatra in a bid to support the realization of net zero emission (NZE) in Indonesia.President Director of Pertamina Geothermal Energy (PGE) Ahmad Yuniarto signs an agreement for "Engineering, Procurement, Construction, and Commissioning (EPCC) for the construction of the Fluid Collection and Reinjection System (FCRS) and Geothermal Power Plant at Lumut Balai Unit 2 in South Sumatra" with Mitsubishi, and Sepco/WIKA at the Business 20 (B20) Investment Forum held in Bali on November 11, 2022. (ANTARA/HO-PT Pertamina)This step to increase the GPP capacity is taken through the inking of an agreement for Engineering, Procurement, Construction, and Commissioning (EPCC) for the construction of the Fluid Collection and Reinjection System (FCRS) and Geothermal Power Plant at the Lumut Balai Unit 2 in South Sumatra.The agreement signing was conducted by PGE with Mitsubishi Corporation Consortium, PT Wijaya Karya, and SEPCO III Electric Power Construction Co. Ltd on the sidelines of the B20 Indonesia Net Zero Summit 2022 event held in Bali on Friday (November 11).The project for the construction of FCRS and geothermal power plant in South Sumatra is funded by Japanese Official Development Assistance (ODA) Loans under the Government to Government (G-to-G) Loan scheme with the Government of Indonesia.The project site is located in the districts of Muara Enim and Ogan Komering Ulu in South Sumatra Province.The contractual scope of the project will be a turn-key basis on which PGE partners will carry out the design, manufacturing, civil works construction, commissioning, performance testing and warranty for the facility that consists of a Geothermal Power Unit and an FCRS, with a net capacity at high-voltage terminals of 55 Megawatts (MW).The geothermal facility is designed to be operational for more than three decades and will be operated and maintained by PGE.The electricity generated from the clean, renewable and environmentally friendly energy facility will be channeled through the installations of the state-owned electricity company PLN, so that it has the potential to increase the number of new residents receiving electricity to reach around 55 thousand households in South Sumatra.Moreover, the working area at the Lumut Balai GPP Unit has proven to have good-quality environmental management with the achievement of Pertamina Environment Regulation Compliance Assurance (PERCA) and the Blue category for Company Performance Rating Program in Environmental Management (PROPER) from the Ministry of Environment and Forestry.In accordance with the theme of the 2022 Indonesia Net Zero Summit "Industrial Decarbonization at All Cost," the effort to increase GPP capacity is one of Pertamina's concrete measures in supporting sustainable development proclaimed by the Indonesian government.The effort was also aimed at mitigating the impacts of global warming by reducing carbon emissions in the environment.Greenhouse gas reductions from the GPP Project at Lumut Balai Unit 1 and 2 are included in the Clean Development Mechanism (CDM) as an implementation of the Kyoto Protocol. It has also been registered with the UNFCCC, with the potential for reducing greenhouse gas emissions of around 581,518 tons of CO2 equivalent per year.GPP capacity of 55 MW, which will be generated from Unit 2 of the GPP in the province, will increase PGE's total installed GPP capacity, after earlier some 55 MW generated from the Lumut Balai Unit 1 Project that became operational in 2019.The new unit will further strengthen PGE's position as one of the largest players in Indonesia's geothermal development, with a total installed capacity of 727 MW.PGE's President Director Ahmad Yuniarto explained that in carrying out its business, PGE remains committed to the development of geothermal energy and ensures that the implementation of the Environment, Social and Governance (ESG) aspects is an integrated part of the company's geothermal energy business line.The implementation of the ESG aspects is the company's effort to provide added value and to support the national programs related to the use of environmentally-friendly new and renewable energy, especially geothermal energy, he remarked.PGE's commitment in developing geothermal energy can contribute to achieving several targets in sustainable development goals (SDGs): Goal No.7 on clean and affordable energy, Goal No.12 on responsible construction and production, Goal No.13 on handling climate change, and Goal No.15 on land ecosystems.PGE currently manages 13 Geothermal Working Areas, with an installed capacity of +1.8 Gigawatts (GW).A total of 672 MW of geothermal capacity is operated and managed directly by PGE, and some 1,205 MW is managed under the Joint Operation Contract scenario.Geothermal energy capacity from power plants in PGE's working areas contributes 82 percent of the total geothermal energy capacity produced in Indonesia and has the potential to contribute to the reduction of carbon dioxide emissions of around 9.7 million tons of CO2 per year.Contact: Muhammmad Baron, Corporate Secretary, PT Pertamina Geothermal EnergyMobile: +62 8 1117 1720, Email: muhammad.baron@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Ahead of the G20 Summit, Coordinating Minister Luhut Officially Launch PLN’s FSPP in Nusa Dua Bali ACN Newswire

Ahead of the G20 Summit, Coordinating Minister Luhut Officially Launch PLN’s FSPP in Nusa Dua Bali

November 14, 2022
Nusa Dua, Bali, Nov 14, 2022 - (ACN Newswire via SEAPRWire.com) - The Coordinating Minister for Maritime Affairs and Investment of the Republic of Indonesia, Luhut Binsar Pandjaitan officially launch the Floating Solar Power Plant (FSPP) of the Muara Nusa Dua Reservoir owned by PLN Group on Friday (11/11). The presence of a new and renewable energy (NRE) based generator with a capacity of 100 kilowatt-peak (kWp) will also support the reliability of the electricity supply for the G20 Summit.President Director of PLN, Darmawan Prasodjo (L) sits next to the Indonesian Coordinating Minister for Maritime and Investment Affairs, Luhut B. PandjaitanThe launch of the Muara Nusa Dua FSPP was also attended by the Minister of Public Works and Public Housing of the Republic of Indonesia Basuki Hadimuljono and President Director of PLN Darmawan Prasodjo.Luhut said the construction of FSPP was a concrete manifestation of Indonesia's energy transition by intensively building EBT-based power plants. This is in line with Indonesia's commitment to reduce carbon emissions towards net zero emission in 2060."We will build a lot FSPP. This is just intermittent, for the baseload we have geothermal, hydro power, and various kinds. Indonesia has 437 gigawatts (GW) of EBT potential, there is still plenty of room to grow," Luhut said.President Director of PLN Darmawan Prasodjo said the FSPP Muara Nusa Dua Reservoir is not only for showcase the G20 Summit, but a symbol of no more energy dilemmas in the future also. This action can changes dirty energy to clean energy. It is need to be done immediately to shape a better global future with lower cost."Our efforts to reduce greenhouse gases are not only because of international agreements and policies, because we do really care," Darmawan said.He explained that the solar power plant (SPP) which consists of 228 solarcell panels has been completed and successfully tested early October through the Smart Grid innovation. This innovation is one of PLN's transformation programs that uses digital system technology to monitor and manage the supply of electrical energy according to load needs."Here the floating is domestically made, the frames are made within the country, all the equipment is domestic. In the future, there is still room for us to build national capacity," Darmawan said.Darmawan also emphasized PLN's commitment to the energy transition towards net zero emissions in 2060 by prioritizing the generous natural potential as well as driving the national economy. According to him, by using local products in power plant construction, Indonesia's economy can also be elevated."The energy transition requires more than USD 700 billion or Rp 10 thousand trillion. If it becomes the market share for foreign products, our economy will slow down, the job creation is not in Indonesia, but in other countries," said Darmawan.Through the subholding of PLN Indonesia Power, the company completed the FSPP Muara Nusa Dua Reservoir project in just 1.5 month. This FSPP was built on an area of 0.35 hectares or 1 percent of the area of the Muara Nusa Dua Reservoir.This project was assigned by the government on July 19, 2022. In September 2022, a number of works were carried out starting from the licensing process, construction to the first phase of synchronization. Muara Nusa Dua GSPP received an operation-worthy certificate (SLO) on October 28, 2022."This PLTS project is also a manifestation of the company's commitment to the principles of Environmental, Social and Governance (ESG) in creating sustainable economic development," he explained.Darmawan also expressed his appreciation to the stakeholders involved, both from the Coordinating Ministry, related ministries, the Governor of Bali and other parties who have actively contributed to the development of the SPP."PLN's responsibility is to provide electricity. However, in the future, with the energy transition, our main job is to take care of the environment, while electricity is our by product," concluded Darmawan.ContactGregorius Adi TriantoExecutive Vice President of Corporate Communications and TJSL PLNT: 021 7261122Source: PT. Perusahaan Listrik Negara (Persero) [IDX: PLN] Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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