Staff Reporter

Energy Matters will sell 20 megawatts of solar panels in one of the largest single solar supply agreements in Australia.

AES Corporation will develop a 150MW wind project worth US$375 million in Pakistan’s Gharo Corridor.

A joint venture involving ADB will develop and operate 500 megawatts of renewable energy projects in India in the next three years. The joint venture agreement was signed by the Asian Development Bank with India’s National Thermal Power Corporation and Japan’s Kyushu Electric Power Company. "The new joint venture company will help India achieve its goal of reducing the country's dependence on fossil fuels, will cut greenhouse gas emissions and improve its energy security," said Michael Barrow, Director in ADB's Private Sector Operations Department,  who signed the agreement in New Delhi. "We hope this company will also provide an example to other foreign investors looking at India's renewable energy sector." Under its National Action Plan on Climate Change, the Indian government has set a target of generating 15 per cent of its total power from renewable sources by 2020. Currently, renewable energy accounts for 10 per cent of total power capacity in India while 65 per cent comes from thermal power plants—mostly coal-fired—which generate the majority of the country's carbon emissions. The remainder of India's power comes from hydropower and nuclear power. "India now has the capacity to generate just over 11,000 megawatts of wind power, but, with the right investment, that could increase to almost 48,000 megawatts. At the same time, small hydropower has the potential to generate about 15,000 megawatts of power and, what's more, is often the best way of providing electricity to low-income households in remote areas," said Don Purka, Senior Investment Specialist with ADB's PSOD. NTPC, the largest power generating company in India with a 33 per cent market share, is majority owned by the Government of India but operates on a commercial basis as an independent company. It currently has a generating capacity of 32,694 megawatts but is working to increase that to 75,000 megawatts by 2017. Under the joint venture agreement, ADB will invest up to US$40 million for a 25 per cent stake in the company. The move is part of ADB's goal of investing $2 billion a year in renewable energy and energy efficiency projects in Asia and the Pacific to help put the region on a sustainable deve opment path. NTPC will have a 50 per cent holding in the company with Kyushu Electric Power owning the remaining 25 per cent.

Huadian Power has secured approval from the Development and Reform Commission to build two wind power projects in Hebei.

A contract has been signed for the construction of the second phase of the Tianwan nuclear power plant.

World Bank has allocated loans partly to help Indonesia build power plants.

TNB has been ordered to pay SEV US$11.6 million , the latter claimed as outstanding capacity payments. Segari Energy Ventures Bhd or SEV is a subsidiary of Malakoff Corp. Berhad.

Construction at the second unit of the Changjiang nuclear power plant in the province of Hainan has officially started.

After another year of fierce struggle and competition, powerful figures from the energy sector proved themselves to be at the top of their game as they were recognized in the 6th Asian Power Awards. Various companies who gathered at the Ritz Carlton Hotel received recognition for their outstanding performance and contribution.

TeaM Energy Corp. is in talks with San Miguel Aboitiz for a US 1.5-billion expansion program for the Sual and Pagbilao coal facilities.

Crossing Automation has completed installation of a material tracking system for a Taiwanese solar cell manufacturer. It consists of its Auto ID and automated tracking system software, Smart Storage asset tracking and Smart Storage racks. As part of the project, Crossing developed customized ATS software for solar cell carriers throughout the fab, carrier racks were incorporated with additional sensors to ensure proper placement on the rack, and the solar rack design and the layout itself was developed with input from the customer.

CR Power further established new funding channel and lowered its funding costs via successfully issuing offshore corporate bond. The corporate bonds are valued at RMB2.0 billion or US$188.79 million. Proceeds will be used to invest in the development and expansion of power generation projects and supplement general working capital. The Issuance is divided into two tranches: 3-year and 5-year, each with issue size of RMB 1.0 billion or US$94.3 million, and coupon rate fixed at 2.90 per cent and 3.75 per cent respectively. Coupons are paid semi-annually in arrears with no amortization during the life of the bond. After issuing onshore RMB corporate bond and US$ senior notes earlier this year, through successfully issuing offshore RMB corporate bond, CR Power further expanded its investors base, which is beneficial for its long-term development. Furthermore, the Issuance allows CR Power to lock in and lower long-term funding costs, hence mitigating the impact of any potential future interest rate hike.  

Electro Zavod has set up a new integrated manufacturing facility in West Bengal.

NVVN will award contracts under Jawaharlal Nehru Solar Mission Phase-I to those who would provide maximum discount on CERC tariff. NTPC Vidyut Vyapar Nigam or NVVN plans to sign power purchase agreement with selected parties by the end of January.

NTPC will hold on to its projects in Uttarakhand despite a series of setback.

The total output for Ca Mau 1 and Ca Mau 2 power plants has reached 7.94 billion KW. It exceeded Ca Mau Petrovietnam Power Company’s 7.6 billion KW target by 4 per cent with revenues has reaching US$337.8 million.