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Indian units of Sembcorp, Saudi firm win govt auctions to sell solar power

elean
2 minutes

CHENNAI (REUTERS) - The Indian units of Sembcorp Industries and Saudi Arabia's Aljomaih Holding won government auctions to sell solar power for a record low of 2 rupees (S$0.036) per kilo watt hour (kWh), sources said. The tariff represented a discount of nearly a sixth from the lowest bid for solar power of 2.36 rupees in the auctions conducted by state-run Solar Energy Corp of India (SECI) in June. India, the world's third-biggest greenhouse gas emitter, has set a target of raising its renewable energy to 175 gigawatts (GW) by 2022 and 450 GW, from about 90 GW now. Sembcorp's Indian unit Green Infra Wind Energy will operate a solar plant with a capacity of 400 megawatts (MW), while Aljomaih Energy and Water will construct a 200 MW plant, a screengrab of the results of the auctions conducted by SECI showed. Three sources familiar with the matter, including a SECI official, independently confirmed the development. NTPC and Sembcorp declined comment. Reuters was not able to contact Aljomaih for comment beyond regular business hours. SECI, the country's main agency for renewable energy adoption, awards contracts to the company offering to sell electricity at the lowest price, followi...

ACN Newswire
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POWER WEEK AFRICA 2021: An Interactive Virtual Summit for Power & Energy Professionals

indie
4 minutes

AFRICA, Nov 18, 2020 - (ACN Newswire) - Specially designed for the African electric power & energy industry, POWER WEEK AFRICA (20 - 23 April 2021) is the 3rd annual international virtual conference delivering a unique experience for each day of the event. We will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world. Join in from wherever you are online either live or watch the sessions on-demand.You are guaranteed 7 days of learning opportunities inclusive of a 4-day main conference, 3 supplementary workshops, multiple case studies from a wide array of perspectives, expert opinions and unrivalled insights into the African electric power & energy market prospects.The conference promises valuable insights on a diverse range of topics that are critical to the African electric power & energy industry today - renewable energy, climate change & environment, energy transition, energy efficiency, funding, investment facilitation, energy access, policies & regulations, tariffs, capacity development, technology, solar, off grid, public private partnerships, energy storage, digitalisation...

ACN Newswire
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The Future Energy Show Philippines 16-17 November

indie
4 minutes

MANILA, Nov 16, 2020 - (ACN Newswire) - On 16-19 November 2020 (09:00, GMT+8), The Future Energy Show Philippines (16-17 Nov) and The Future Energy Show Vietnam (18-19 Nov) launches live online, bringing together thousands of virtual participants to chart the future of energy in two of Southeast Asia's most exciting markets.With the Philippines' growing population and continued industrialization, the Department of Energy (DoE) has forecast the country's demand for electricity in 2040 to reach over 40,000 megawatts (MW), which far exceeds the existing dependable capacity of 22,736 MW. The Philippine Energy plan targets to increase installed renewable capacity to 20,000 MW by 2040, to help achieve the goal of reliable energy for all in the Philippines. This landscape, together with the government's initiatives, presents the rise of new opportunities in the Philippines' energy sector. To showcase possibilities in the industry, the Future Energy Show Philippines, co-located live online with the Future Energy Show Vietnam, will gather the energy sector ecosystem in the region to discuss industry strategies, trends, and key innovations to help local energy stakeholders in their work to a...

ACN Newswire
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Securing the Future of Energy in The Philippines

indie
4 minutes

Philippines, Nov 13, 2020 - (ACN Newswire) - On 16-19 November 2020 (09:00, GMT+8), The Future Energy Show Philippines (16-17 November) and The Future Energy Show Vietnam (18-19 November) launches live online, bringing together thousands of virtual participants to chart the future of energy in two of Southeast Asia's most exciting markets.With the Philippines' growing population and continued industrialization, the Department of Energy (DoE) has forecast the country's demand for electricity in 2040 to reach over 40,000 megawatts (MW), which far exceeds the existing dependable capacity of 22,736 MW. The Philippine Energy plan targets to increase installed renewable capacity to 20,000 MW by 2040, to help achieve the goal of reliable energy for all in the Philippines. This landscape, together with the government's initiatives, present the rise of new opportunities in the Philippines' energy sector. To showcase possibilities in the industry, the Future Energy Show Philippines, co-located live online with the Future Energy Show Vietnam, will gather the energy sector ecosystem in the region to discuss industry strategies, trends, and key innovations to help local energy stakeholders in t...

JCN Newswire
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Vestas and Mitsubishi Heavy Industries Strengthen Partnership in Sustainable Energy

ruth
5 minutes

TOKYO, Oct 30, 2020 - (JCN Newswire) - Vestas Wind Systems A/S (Vestas), a world leader in sustainable energy solutions, and Mitsubishi Heavy Industries, Ltd. (MHI), a leading global manufacturing and engineering firm, have signed an agreement to expand their partnership in sustainable energy. The strengthened partnership entails that Vestas will acquire MHI's shares in the MHI Vestas Offshore Wind (MVOW) joint venture, and MHI will acquire 2.5 percent in Vestas and be nominated to a seat in Vestas' Board of Directors.Through the strengthened partnership, Vestas makes an emphatic long-term move in offshore wind energy to become a leading player in offshore wind by 2025 and to expand the two companies' overall leadership in sustainable energy. A new offshore wind turbine platform will also be imminently introduced to improve efficiency and drive the levelized cost of energy further down. The companies also aim to meet customer needs across a wider range of the value chain and increase their global leadership in sustainable energy solutions. To that end and underlining the long-term goal of the agreement, Vestas and MHI will also plan for collaborating in green hydrogen as well as a ...

JCN Newswire
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Mitsubishi Power Receives Order for First Solid Oxide Fuel Cell in Europe

ruth
5 minutes

Duisburg/ Wolfsburg, Oct 29, 2020 - (JCN Newswire) - Mitsubishi Power has recently received an order to supply the first Solid Oxide Fuel Cell (SOFC) in Europe. The highly efficient hybrid system will be put into operation at the Gas- und Warme-Institut Essen e.V. (GWI) in Essen by March 2022. Among other things, flexible operation of the Hybrid-SOFC and the proportional use of hydrogen as a fuel gas are to be researched under real conditions.The system is part of the research project "KWK.NRW 4.0" and is funded by the state of North Rhine-Westphalia and the European Regional Development Fund (ERDF). The Solid Oxide Fuel Cell (Hybrid-SOFC) from Mitsubishi Power plays a central role in the project. The highly efficient system not only supplies electricity and heat but can also be used decentralized and independently of the existing power grid. Another key advantage of the Hybrid-SOFC: the system can be operated flexibly with various fuels - from natural gas to biogas and hydrogen.This Hybrid-SOFC can theoretically supply electricity to a large office building, a hospital or about 300 houses with electricity and heat. In addition to natural gas, liquefied natural gas and biogas, it c...

SeaPRwire
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S’pore to import electricity from Malaysia in pilot trial over 2 years

aseanpr
5 minutes

SINGAPORE - The little red dot wants a greener energy mix, and is taking multiple steps to achieve this - from an electricity import pilot with Malaysia to soaking up more sunshine at home and investing in research on emerging low-carbon technologies. Minister for Trade and Industry Chan Chun Sing on Monday (Oct 26) laid out the steps that Singapore will take to be a "bright green spark" for the world - a place where ideas and applications can be an inspiration and help to create more sustainable and higher quality living environments. As part of its plans, Singapore hopes to tap green energy from around the region through regional power grids. The groundwork for this will be laid through an electricity import pilot with Malaysia over two years. "We will be kicking this off with 100 megawatts of electricity imports over a trial period of two years," said Mr Chan. This will make up about 1.5 per cent of Singapore’s peak electricity demand. "This (trial) can help us to access clean energy from regional countries and improve our energy resilience. We have been working closely with Malaysia and are thankful for their strong support," Mr Chan said in his opening remarks at the Singapore...

ACN Newswire
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EMC Provides One-stop Marketplace for Businesses to Buy Electricity and Offset Consumption

indie
6 minutes

SINGAPORE, Oct 22, 2020 - (ACN Newswire) - Singapore's Energy Market Company (EMC) announced that organisations committed to environmental sustainability can now conveniently purchase electricity and offset their electricity consumption with Renewable Energy Certificates (RECs) through EMC's PowerSelect platform. Toh Seong Wah, CEO of EMCEsther An, Chief Sustainability Officer, City Developments Limited (CDL)His Excellency Dr. Rashid Al Leem, Chairman of the Sharjah Electricity, Water and Gas Authority (SEWA)RECs are an additional offering on the PowerSelect platform, which helps businesses efficiently source the best electricity packages across a large number of electricity retailers in Singapore. With this new service, organisations can access a wide range of RECs from local and overseas energy providers, across different renewable energy sources. Increased choices for both electricity packages and RECs translate into more competitive prices for customers.RECs are financial instruments that certify the purchase by an investor of units of electricity generated from renewable energy sources. Once the renewable energy is fed into the national power grid by the power generator, the R...

ACN Newswire
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China’s petrochemical industry launches blockchain warehouse receipt financing trade

indie
6 minutes

BEIJING, China, Oct 15, 2020 - (ACN Newswire) - On September 27, China's petrochemical industry saw its first digital warehouse receipt pledge financing transaction that integrates blockchain and Internet of Things (IoT) technology successfully implemented in China, providing new solutions for small and medium-sized petrochemical enterprises perplexed by overly expensive and slow financing.This transaction has involved China's Sinochem Energy High-Tech Co., Ltd., China Construction Bank Inner Mongolia Branch, and Nanchu Management Group Co., Ltd. The financing party, Beijing Longrunkaida PEC Products Co., Ltd., is one of the largest traders in lubricant and base oil industries in northern China in terms of sales volume. From the application for issuance of warehouse receipts to the bank's appropriation of the loan, it took less than one day with a cost 40% lower than that of common trade finance services in the market.Ma Xiaohui, Chief Financial Officer of Beijing Longrunkaida, introduced the process of this financing deal, "Through Sinochem Energy High-Tech's '(Blockchain) Digital Warehouse Receipt Platform', we applied to Nanchu Management Group for the issuance of warehouse rece...