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.
German firm Siemens has won a contract to supply inverter systems and other equipment to investment and construction corporation Trungnam Group’s 258MW solar farm in the southern Vietnamese province of Ninh Tuan.
Sunseap International, a subsidiary of Singapore-based Sunseap Group, has started construction of its 186MW, US$150 million solar farm in Vietnam – claimed to be the largest PV project in the ASEAN region.
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.
Southeast Asia’s PV markets are entering a post-subsidy phase, creating numerous policy and regulatory challenges for developers. But, as Tom Kenning heard at November’s Solar and Off-Grid Renewable Southeast Asia event in Bangkok, there are still plenty of opportunities.
Philippines-based commercial bank, BDO Unibank, has issued its first green bond investment for US$150 million to sole investor the International Finance Cooperation (IFC), to expand finance for private sector investments and to tackle climate change.
Engineering and real estate firm TEE International, part of TEE Group, has formed a joint venture with PV firm Malaysian Solar Resources (MSR) to focus on Singapore solar tenders and explore investment opportunities in Southeast Asia.
The Asian Development Bank (ADB) has raised US$1.25 billion to help finance climate change mitigation and adaptation projects by issuing dual-tranche five-year (US$750 million) and 10-year green bonds (US$500 million).
Singapore ended Q1 2017 with 129.8MW of installed solar PV, four times more than the 33.1MW it had at the end of 2014, according to the annual energy report from Singapore’s Energy Market Authority (EMA).
MRC Allied, a property development firm based in the Philippines, is making a powerful foray into the energy scene, by revealing an ambitious plan to build up a portfolio of 1GW of clean energy by 2022 – with solar PV constituting half of that capacity.