SolarHome, an off-grid solar firm focused on Southeast Asia, has raised US$5 million to date, having recently closed a US$1 million convertible note offering with impact venture capital firm Insitor Impact Asia Fund.
Sharp Energy Solutions Corporation (SESJ), a subsidiary of Japan’s Sharp Corporation, has completed a 1.6MW solar project inside Jakabaring Sports City, a sports complex in Palembang, South Sumatra, Indonesia.
The Asian Development Bank (ADB) is providing a roughly US$40 million project financing package for Vena Energy, formerly Equis Energy, to build four solar plants in eastern Indonesia, which are said to be the Southeast Asian country’s first utility-scale PV plants.
Indonesian power company PT Pembangkitan Jawa-Bali (PT PJB), a subsidiary of state utility PLN, and the UAE's Masdar have signed an agreement to develop the world’s largest floating solar project with a capacity of 200MW in Indonesia.
The case for solar remains strong in Southeast Asia since power demand is still growing rapidly in many of its markets, but traversing the unique regulations and policies of each country and knowing which PV segment is most suitable remains challenging. Here are some of PV Tech’s key takeaways from last week’s Solar and Off-Grid Renewables Southeast Asia (SORSEA) 2017 conference in Bangkok, Thailand.
Renewable energy power purchase agreements (PPA) driven by solar are set to take a significant chunk of the market in Southeast Asia over the next few years, according to panellists at the Solar and Off-Grid Renewables Southeast Asia (SORSEA) conference in Bangkok.
The Asian Development Bank (ADB) has approved two loans, adding up to US$1.1 billion, that will help strengthen and round out Indonesia’s energy sector — spurring growth within the country and increasing access to renewable-energy sources.
A nation made up of thousands of small islands should be a blessing to any off-grid renewable energy firm, but poor access to upfront financing makes Indonesia a tougher proposition than one would expect. To discuss the market, PV Tech caught up with Verania Andria, associate director, community renewable energy, Millennium Challenge Account Indonesia, which focuses on financing off-grid renewables in Indonesia with grant funding.
Andre E. Susanto, senior vice president and founder, PT Inovasi Dinamika Pratama, explains how the new regulation requires all renewable energy-based power plants to sell electricity at or below the state-owned utility PLN’s prevailing generation cost.