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Meralco says retail rates down by 3% in H1

The Manila Electric Co. (Meralco), the Philippines’ largest power distribution utility, said Wednesday its average electricity retail rates in the first half of 2021 dropped by 3% on account of lower charges in generation, transmission, and system loss.

Singapore sovereign fund invests $240m into geothermal DH

In an exciting announcement shared this week, Icelandic Arctic Green Energy and the Government of Singapore Investment Corporation (GIC), a government-owned company assigned to manage Singapore’s sovereign wealth fund, report having set up an ambitious strategic alliance. The goal is to drive the uptake of zero carbon district heating in Europe and Asia. Under the […]

Thailand’s GPSC acquires Taiwan offshore wind stake for US$500 million

Bangkok-listed Global Power Synergy Public Company Limited (GPSC) has acquired a 25% stake in the 595MW Changfang and Xidao (CFXD) offshore wind farms in Taiwan. The Thai company, a subsidiary of state-owned oil and gas group PTT, is paying US$500 million for the shares.

Udenna unit ‘financially ready’ to operate Malampaya project

UDENNA Corp. subsidiary Malampaya Energy XP Pte Ltd. said it is financially prepared to operate the Malampaya project as its pending acquisition of shares in the gas field’s operator Shell Philippines Exploration B.V. (SPEx) was fully underwritten and funded through bank loans.

SPEX to undertake 6-month ‘transition operation’ in Malampaya handover

As it will be handing over the Malampaya gas field venture to a non-technical buyer, Shell Philippines Exploration B. V. (SPEX) indicated that it will be providing a “six-month transition operation” on the facility as part of the handover process to new owner Malampaya Energy XP Pte. Ltd. (MEXP), which is a subsidiary of the […]

PTT acquires 41.6% stake in Indian energy company

Global Power Synergy Plc (GPSC), a power generation arm of Thailand’s national oil and gas conglomerate PTT Group, has paid 14.82 billion baht to acquire a 41.6% stake in Avaada Energy Private Co (Avaada), one of the leading renewable energy companies in India.

ABB’s local unit eyes more ties with RE firms

THE local unit of global technology firm ABB Ltd. said it is looking at working with more Philippine renewable energy (RE) firms in the next one to two years.

Petronas to power assets in Malaysia with solar energy as part of its sustainability commitment

KUALA LUMPUR (July 8): Petroliam Nasional Bhd (Petronas) has launched an initiative to deploy solar energy at the group’s assets across Malaysia to increase efficiency and reduce carbon emissions as part of its sustainability agenda and aspiration of Net Zero Carbon Emissions by 2050 (NZCE 2050).

Grab to trial new green ride-hailing service

SINGAPORE – Ride-hailing firm Grab will trial a new service for commuters in central Singapore to book rides only on hybrid or electric vehicles from next Wednesday (July 14) as part of its efforts to go green.

Cycle & Carriage launches a new partnership with GOGOX to offer zero-emission last-mile deliveries for IKEA Singapore using state-of-the-art electric vans

SINGAPORE, July 7, 2021 /PRNewswire/ — Cycle & Carriage made a significant step forward in its commitment to zero-emissions and the Singapore Green Plan 2030 with the successful launch of a pilot project with GOGOX, one of the largest logistics platforms in Asia to achieve zero-emission deliveries for IKEA Singapore.