Philippines

Solar Philippines is currently seeking off-takers for a project that could also sell power on the spot market. The project is part of a 1 GW pipeline that the company announced in December.

With ‘shovel-ready’ projects across India, Africa and Latin America in line for a mix of grants, cheap loans, equity investment and financial guarantees from this year, the two bodies hope to trigger $20 billion in total funding and bring reliable power to a billion people.

The Paris Agreement has been signed by all ASEAN nations and almost all members have declared a carbon emissions reduction target. The diversity in ASEAN’s readiness for energy transition is reflected in the wide-ranging nationally determined contribution targets set for reducing greenhouse gases. An immediate quick win for the renewable energy transition is the harnessing of solar power from an abundance of resources in the region.

Energy efficiency, electrification of heating and transport, and the provision of clean cooking facilities are all going in the wrong direction as the Covid crisis deprived millions in sub-Saharan Africa of electricity use, according to a report by the IEA, IRENA, WHO, World Bank and UN Statistics Division.

Australia’s Star Scientific has signed a deal with the Department of Energy in the Philippines to use its hydrogen tech. The partnership could see Star Scientific transform every coal-fired power plant in the nation to green hydrogen, while also using the tech to provide desalinated water.

The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.

Solar Philippines is planning to deploy several unsubsidized solar plants in the provinces of Batangas, Cavite, Nueva Ecija, and Tarlac.

The renewables business is set to acquire the SN Power hydropower operator belonging to Norwegian state-owned private equity business Norfund, with the $1.17 billion deal expected to go through in the first half of the new year. Scatec said the transaction could offer floating solar opportunities.

Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.

There are at least three PV projects exceeding 1 GW in size that are now under review in the Philippines, according to data from the country’s Department of Energy