Connect with us

Energy News

ADB Finances First Wind Power and Battery Storage Project in Thailand

Published

on

The Asian Development Bank (ADB) has signed a THB235.55 million ($7.2 million equivalent) loan with Lomligor Company Limited (Lomligor), a subsidiary of BCPG Public Company Limited (BCPG), to finance a 10-megawatt (MW) wind power plant in southern Thailand. The project utilizes an integrated 1.88-megawatt-hour (MWh) pilot battery energy storage system to increase the amount of renewable energy delivered to the grid.

The Southern Thailand Wind Power and Battery Energy Storage Project is the first private sector initiative in Thailand to integrate utility-scale wind power generation with a battery energy storage system. The battery system will allow energy to be stored when the wind turbines generate more power than the grid is able to absorb, which will help ensure the stability and reliability of the renewable energy source.

“This project contributes to Thailand’s Power Development Plan targets for clean energy and also demonstrates the potential of integrated renewables and batteries to provide clean energy for southern Thailand,” said Infrastructure Finance Division Director  for Southeast Asia, East Asia, and the Pacific at ADB’s Private Sector Operations Department Jackie B. Surtani. “This will enhance the resilience of the region’s electricity grid, provide energy security for communities, and support economic growth across the country.”

“Lomligor is the first wind power plant in Thailand to adopt energy storage system technology as the solution to the intermittency of wind power,” said BCPG President Bundit Sapianchai. “This will help enhance energy management efficiency and the resilience of energy grids. We are grateful to ADB for acknowledging the initiative of Lomligor Project in applying energy storage system technology to energy production and providing BCPG with such significant financial support including Clean Technology Fund (CTF) mobilization for the project.”

The project will help increase the supply of renewable energy to Thailand’s domestic grid. It is expected to generate at least 14,870 MWh of electricity per year while reducing 6,364 tons of annual carbon dioxide emissions in the country beginning in 2020.

As part of ADB’s blended finance offering for the project, ADB will administer a $4.75 million concessional loan provided by CTF. The concessional loan was critical in overcoming some of the project’s bankability challenges and supports the scaling up and replication of battery storage projects in Southeast Asia. CTF is one of two trust funds comprising the Climate Investment Funds, established in 2008 to provide financing for climate-related development efforts. Kasikornbank PCL is also supporting the project with a THB235.55 million ($7.2 million equivalent) loan.

BCPG is a leading renewable energy company in Thailand with 507.5 MW of total installed capacity in operation and a further 415.0 MW under development. BCPG focuses on investments in renewable energy, including solar, geothermal, wind, hydro, biogas, and biomass.

Energy News

Policy Measures to Advance Jordan’s Transition to Renewables

Published

on

A new report published today by the International Renewable Energy Agency (IRENA) has identified a series of policy measures that can help advance the energy transition towards renewable energy in Jordan.

The “Renewables Readiness Assessment: The Hashemite Kingdom of Jordan” – developed in co-operation with Jordan’s Ministry of Energy and Mineral Resources, suggests opportunities exist to deepen private sector engagement in national efforts to reach a 31 per cent share of renewables in total power by 2030.

“The recommendations of this report comply with the newly issued Energy strategy 2020-2030 and its action plan,” said H.E. Engineer Hala Zawati, Minister of Energy and Mineral Resources in Jordan. “We are fully aware that to achieve all these ambitious targets, a strong partnership between the public and private sectors is needed. We are also eager to work with international friends and partners to make renewable energy a main pillar of the Jordan energy sector.”

The report presents policy action areas to increase energy security and boost supply diversity through the accelerated uptake of renewables and includes ideas to boost end-use electrification and increase the availability of energy transition investments from domestic institutions.

Jordan’s share of electricity from renewables grew from almost zero in 2014 to around 20 per cent in 2020 thanks to enabling frameworks and policies that have supported the deployment of renewable energy technologies, including solar photovoltaic (PV) and onshore wind.

“Jordan boasts significant renewable energy resource potential that if realised will reduce consumer energy costs, improve national energy security, create jobs and stimulate sustainable growth – boosting post COVID-19 economic recovery efforts,” said IRENA Director-General Francesco La Camera. “This report highlights a series of policy and regulatory measures that will allow Jordan to build on its energy transition progress to date and align it with 2030 national decarbonisation goals.”

Capacity building in local financing institutions and project developers can drive their engagement in the energy transition, the report says, while helping the country to meet its needs in important areas such as the build-out of electric charging infrastructure for the transport system.

Challenges associated with integrating higher shares of renewables in Jordan can be addressed by building and upgrading transmission and distribution infrastructure, deploying storage, promoting demand-side management and incentivising electrification of heating, cooling and transportation.

Renewables Readiness Assessment: Jordan lists concrete recommendations around the following seven action areas:

  • Provide the conditions for renewables to grow in the power sector
  • Foster continued growth of renewable power generation
  • Plan for the integration of higher shares of renewable power
  • Incentivise the use of renewables for heating and cooling
  • Support renewable options for transport and mobility
  • Catalyse renewable energy investment
  • Strengthen local industries and create jobs in renewables

Read the full report

Continue Reading

Energy News

World Bank Supports Angolan’s Electrification with $250 Million

Published

on

The World Bank approved $250 million to improve the operational performance of the electricity sector utilities and increase electricity access in selected cities of Angola.

The  Electricity Sector Improvement and Access Project will finance electrification investments in the provinces of Luanda, Benguela, Huila, and Huambo, delivering 196,500 new electricity connections that will benefit close to one million people and 93,857 public lights.

The project will focus on electricity access expansion and improvement of revenue collection, electricity service improvement, capacity improvement of the public electricity producer (PRODEL, Empresa Pública de Produção de Electricidade), and strengthening sustainable management of generation plants. The project also aims to increase the commercial performance of the national electricity distribution company (Empresa Nacional de Distribuição de Electricidade, ENDE) as well as provide financing to the national transport network Rede Nacional de Transporte, RNT) for targeted interventions to improve and optimize the dispatch of electricity supply and the overall management of the national transmission network. Furthermore, the Project will also finance immediate measures to raise the operational, commercial and technical capacity  of  the three national power utilities, leading to significant electricity service improvement.

“Investment in infrastructure, especially in energy, is key to  economic development ”, said Jean-Christophe Carret, World Bank Country Director to Angola “Quality access to electricity services will have a spillover effect in many other sectors, including agribusiness, health, education, just to name a few.”

Angola’s power generation capacity, largely based on hydropower, has developed at a fast pace with the national installed generation capacity quadrupling in just one decade, but transport, distribution and cost recovery remain very challenging. Less than 40 percent of Angolans have access to electricity, with inadequate electricity services impacting poverty, productivity and regional disparities. Therefore, the project aims to deliver the most critical actions needed to help expand electricity access, improve the operational and commercial performance of utilities, and ultimately boost their creditworthiness. This, in turn, will contribute to reducing extreme poverty, improving the resilience of communities to impacts arising from COVID-19, and increasing shared prosperity.

The total project cost is $417 million, financed with a $250 million loan from the World Bank and a credit of $167 million from Agence Française de Développement.

Continue Reading

Energy News

IEA and SICA to collaborate on clean energy transitions in Central America

Published

on

The International Energy Agency (IEA) and the Central American Integration System (SICA) have signed a Memorandum of Understanding (MoU) to promote clean energy transitions in Central America. Under the MoU, the two organisations will expand their cooperation on energy data and statistics, energy efficiency and climate resilience of electricity systems. These have all been identified as key areas for energy transitions and climate change mitigation in the region under SICA’s Central American 2030 Sustainable Energy Strategy.

“The IEA is pleased to team up with SICA to expand our work in Central America, a dynamic region that is home to over 55 million people and has excellent clean energy potential with distinctive transition opportunities and challenges,” said IEA Deputy Executive Director David Turk. 

Under its Clean Energy Transitions Programme, the IEA has been expanding its collaboration in Latin America. This is taking place both bilaterally with key partner countries – including the two largest economies, Brazil and Mexico – and on a regional level through cooperation with leading regional organisations, including the Latin American Energy Organisation (OLADE) and the Inter-American Development Bank. The signing of the IEA-SICA Memorandum of Understanding is a new milestone for the IEA’s engagement with the region. 

“Today’s signing ceremony marks an important step for SICA’s work on clean energy transitions – an important priority for our member countries, which can now benefit from the IEA’s leading analysis and expertise,” said Vinicio Cerezo, SICA Secretary General.

The Central American Integration System (Sistema de Integración Centroamericana, or SICA) is an economic and political organisation composed of Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panamá and the Dominican Republic, that works to foster closer ties and integration across Central America and the Dominican Republic to promote peace, liberty, democracy and development in the region.

Continue Reading

Publications

Latest

Human Rights35 mins ago

Russia responsible for Navalny poisoning, rights experts say

Russia is responsible for the poisoning and attempted killing of jailed opposition figure Alexei Navalny, two independent UN rights experts said on Monday, issuing an...

Terrorism3 hours ago

Despite acknowledging strict measures, Pakistan has to stay on the grey-list in FATF

President of The Financial Action Task Force (FATF), Dr. Marcus Pleyer, announced in a press conference held on 25 February...

Africa5 hours ago

Kenya’s Peter Mathuki appointed as Head of EAC Secretariat

Kenya’s Peter Mutuku Mathuki has been appointed to head the East African Community (EAC), the regional bloc that brings East...

Diplomacy7 hours ago

Cutting Distances with a Cricket Stump

Sports are the common threads that bind people and countries together. The interlocking rings of the Olympics rings symbolize the...

Southeast Asia9 hours ago

Biden administration’s policy towards Vietnam, and the South China Sea

The one big question loomed large about Biden administration and it was whether there be a change in Biden administration...

Middle East11 hours ago

Beyond the friendship diplomacy between Morocco and Mauritania

Over the past decade or so, many politicians and diplomats have held that the most significant bilateral relationship has been...

Europe13 hours ago

The Present Battle over Greece’s Past is Seeding New Battles in its Future

The streets of Greece have been raging with marches, violent clashes between police and protesters, and clandestine violence since the...

Trending