Greenpower’s new investor, PIDG: Sri Lanka-based renewable energy independent power producer (IPP) Greenpower SL has secured a $12 million investment from InfraCo, the project development solution under Private Infrastructure Development Group (PIDG). It will deploy the proceeds to double its rooftop solar portfolio from 80 MW operational capacity at present to up to 190 MW and create more than 180 jobs in construction and operation. Greenpower will also be able to explore new technologies such as energy storage. The company has so far installed rooftop solar panels for more than 1,300 public buildings, including schools and hospitals in the country. PIDG has also allocated an additional $80,000 technical assistance grant for Greenpower to conduct a feasibility study exploring nature-based solutions to enhance solar installations. PIDG joins Greenpower’s existing investors – French IPP Volta Groupe, and Norwegian Development Finance Institution Norfund.
Financing for 40 MW rooftop solar: A special purpose vehicle (SPV) of Japan’s Tokyo Electric Power Company Holdings (TEPCO) and ESR Group Limited has raised SGD 9.5 million ($7.4 million) to develop close to 10 MW of rooftop solar capacity in Singapore. This portfolio asset project financing amount is to be increased to a maximum of SGD 35 million ($27.2 million) to support the future development totaling 40 MW. This financing from Taiwan-incorporated Bank SinoPac is the first agreement of its kind for TEPCO that targets to install 100 MW rooftop solar capacity in the Asia Pacific region.
133 MW solar plant in the Philippines: The listed energy platform of the Ayala Group ACEN has announced commercial operations of the 133 MW Cagayan North Solar Project in the Philippines. Developed in partnership with CleanTech Renewable Energy 4 Corp, the solar farm is located in Lal-lo, municipality of Cagayan in North Luzon. It is the 1st utility-scale solar project in the Cagayan province. It generated an estimated 188 GWh annually to power the Luzon grid. ACEN and CleanTech own the project in a 60:40 ratio.
30 MW online in Japan: Japan’s Electric Power Development Co., Ltd. (J-POWER) has energized a 30 MW solar power plant in the country almost 2 years after it entered construction. The Kitakyushu Hibikinada Solar Power Station has come up within J-POWER’s Wakamatsu Operations and General Management Office premises in Kitakyushu City of Fukuoka Prefecture. J-POWER says, with this project, it now has solar power generation facilities with a combined 31.9 MW at 2 sites.
Jinchen eyes Malaysia for overseas expansion: Chinese solar PV equipment manufacturer Jinchen Machinery plans to establish a new company in Malaysia under its wholly-owned susbidiary JINCHEN SG PTE or Jinchen Singapore. The Malaysia entity Jinchen Malaysia will be set up for a total investment of $6.5 million for manufacturing of solar PV production equipment.
10 MWh ESS order for Jinko ESS: Jinko ESS has secured a 10 MWh energy storage project in Southeast Asia, its maiden off-grid industrial-scale project in the region. It will deploy the company’s G2 5 MWh liquid-cooled systems and 2 state-of-the-art 2.5MVA Jinko PCS SKIDs. Commissioning is scheduled for Q3 2025.