THB 300 million for Constant Energy: A Virya Energy Group affiliate and Asia-focused renewable energy company, Constant Energy (CE), has raised THB 300 million ($9.5 million) from HSBC in Thailand. It will deploy the proceeds from this green financing to support the expansion of large-scale solar and battery storage projects in the country. Facilities to be supported include rooftop, ground-mounted and floating PV systems. “This green guarantee and Standby DC facility will help us accelerate our mission to provide clean, renewable energy for our clients, enabling them to reduce their carbon emissions and electricity costs,” said Constant Energy CEO and Founder Franck Constant. The company has a growing portfolio of over 210 MW of solar projects across Thailand, Malaysia, and Vietnam.
Wollemi’s MPower acquisition: Climate investor Wollemi Capital has completed the acquisition of substantially all of solar, battery, and microgrid projects developer MPower’s business in Australia. The AUD 19 million ($12.5 million) deal brings the renewable energy and battery storage business of MPower to Wollemi Energy Group. Wollemi says it will now invest over AUD 100 million to expand the project pipeline of this business. Wollemi Co-Founder and Co-CEO Paul Hunyor has been appointed Chairman of MPower to guide its next phase of growth.
Financing for 221 MW: Aboitiz Renewables has secured PHP 7.4 billion ($129.5 million) in project financing from the Bank of the Philippine Islands (BPI) through its wholly owned subsidiary AP Renewable Energy Corporation. It will help fund the construction, operation, and maintenance of the 221 MW Olongapo Solar Power Plant in the Philippines’ Zambales region. The largest solar project of the company to date, this facility is already 95% complete, and on track to be commissioned by Q3 2025.
30 MW LSS in Malaysia: Malaysian solar company Founder Group Limited has secured MYR 10 million ($2.36 million) EPC contract for the construction and commissioning of a 30 MW large-scale solar (LSS) PV plant in Malaysia. The project is expected to contribute nearly 60,000 Renewable Energy Certificates (RECs) to the market, it says, and generate nearly 60,000 MWh of clean energy annually for supply to corporate consumers. Project delivery is expected to be completed by the end of 2025.
NSW speeds up work for REZ: New South Wales (NSW) in Australia is fast-tracking its 1st Renewable Energy Zone (REZ) in the Hunter-Central Coast region to boost clean power capacity and support the state’s 2030 targets. The project will add 1 GW of network transfer capacity by upgrading existing grid infrastructure and building 2 new substations, helping integrate more renewable generation. Backed by full planning approval, it is designed to have a low environmental impact while creating about 590 direct jobs annually. The initiative now awaits final approval from the Australian Energy Regulator before moving ahead. NSW had received close to 40 GW of renewable energy capacity applications in response to its registration of interest round for the Hunter-Central Coast REZ (see 40 GW RE Capacity For NSW REZ).
Textile mill to be solarized: Saif Textile Mills Limited in Pakistan has contracted SkyElectric (Private) Limited for the supply and installation of a 10 MW solar power system. It expects the project to reduce its electricity costs and contribute to its profitability.
.png?w=50&fm=png){kind=logo}