AsiaElec - Asia Power

Chinese investors withdraw from Kenya’s Lamu coal project

The Industrial and Commercial Bank of China (ICBC) has decided not to finance the proposed 1,050-MW Lamu coal plant in Kenya.

Asian developers’ exit from Thabametsi confirmed by SA government

The Japan and South Korea-led Thabametsi Project Company has officially informed the South African government that it has withdrawn from the 630-MW Thabametsi coal-fired power project.

IRENA highlights continued shortfall in green investment

Global renewable energy investment increased between 2013 and 2018, reaching its peak of $351bn in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI).

Kyushu Electric Power restarts Sendai 1

Japan’s Kyushu Electric Power has restarted Unit 1 at the Sendai nuclear power plant (NPP) after completing construction of a bunkered back-up control centre.

EBRD, Chinese funding pushes Kazakh wind farm forward

The European Bank for Reconstruction and Development (EBRD) is to provide $24.8mn in project financing for Kazakhstan’s 100-MW Zhanatas wind project, the largest yet to be proposed for the Central Asian country.

Fortescue Metals sets 235-GW green target

Iron ore miner Fortescue Metals is to build 235 GW of wind and solar capacity to become a major producer of green electricity and hydrogen that would rival the country’s biggest oil suppliers in terms of energy produced.

Scottish Widows to divest from thermal coal and tar sands

UK pensions investor Scottish Widows is to divest at least GBP440mn ($528mn) from companies that maintain their exposure to coal and weapons, among other factors, as it positions itself as an ethical investor.

Marubeni confirms exit for SA’s Thabametsi project

Japan’s Marubeni Corp. has confirmed it will not fund the Thabametsi coal-fired power plant in South Africa, following the withdrawal of some South African investors this week.

Indonesia pursues foreign upstream investment

The Indonesian government is pursuing foreign investment in the country’s upstream by touting a new exploration bid round slated for 2021.

Siemens the next to exit coal

Siemens’ turbine manufacturing business will no longer make any bids to build new coal-fired power stations, although it will continue with its existing coal power business and will also not stop building gas-fired turbines.

Renewable power proves resilient to COVID

Renewables will account for 90% of new generating capacity in 2020, the IEA forecasts, but more consistent green policies are needed to foster sustainable growth.

MHI Vestas installs record-breaking floating turbines off UK

MHI Vestas has installed a V164-9.5 MW turbine, the most powerful turbine in use at a floating wind project, at the Kincardine project off the UK coast.

Toshiba sets 50% emissions reduction target

Toshiba has announced plans to reduce its CO2 emissions by 50% by 2030 and by 80% by 2050, while it also aims to contribute to the creation of a net-zero society by 2050.

Global wind market grows 18% in 2020 despite pressure from pandemic

Resilience and falling costs have kept up wind growth in 2020, and more expansion is set to come

Mongolia seeks EPC contractors for 10 MW solar plant

ExxonMobil, JERA to build integrated LNG-to-power project in Vietnam

ExxonMobil Hai Phong Energy (EMPHE), Hai Phong People’s Committee and Japan power generation company JERA have signed a memorandum of understanding (MoU) to work together on a potential integrated LNG-to-power project in Hai Phong.

ADB to lend $133mn to modernise distribution in India’s Meghalaya State

The Asian Development Bank (ADB) has approved a $132.8mn loan to upgrade the power distribution network and improve reliability in the northeastern Indian state of Meghalaya.

Adani take the lead in Indian coal auctions

Adani Group is to take ownership of its first coal mine in India, with its subsidiary Stratatech Mineral Resources making the highest bid for the Dhirauli mine in Madhya Pradesh State.

Russia talks up exporting hydrogen to Japan

Russia aims to export hydrogen to Japan as it joins the global race to decarbonise

Clean break needed for Philippines’ power sector after coal moratorium

The Philippines’ moratorium on new greenfield coal power plants, announced in October, marks a clear break with past policies and will allow considerable modernisation and new technology.

Mainstream secures partner for 500-MW Ben Tre offshore wind farm in Vietnam

Irish-based developer Mainstream Renewable Power has teamed up with local investor and contractor Advance Information Technologies (AIT) to build a 500-MW offshore wind project in Vietnam’s Ben Tre Province.

Vestas buys 50% stake in MHI

Denmark’s Vestas has bought Mitsubishi Heavy Industries’ (MHI) 50% stake in their MHI Vestas Offshore Wind (MVOW) joint venture in a swap deal that will see MHI taking a 2.5% stake in Vestas.

Philippines announces moratorium on new coal power

The Philippines has imposed a moratorium on the licensing of new coal power plants, with Philippines Energy Secretary Alfonso Cusi saying that renewables would now drive the country’s energy future.

Wind, solar to dominate by 2050, but fossil fuels persist

Wind and solar PV will meet 56% of world electricity demand by 2050, BloombergNEF found in its 2020 New Energy Outlook (NEO).

South Korea commits to net zero

South Korea has joined Japan and China is setting the 2050 carbon neutral target