JA Solar delivers bifacial modules for Malaysia’s first solar project
/ Chinese solar photovoltaic (PV) manufacturer JA Solar has supplied modules for Malaysia’s first bifacial-plus-trackers project.
As per the terms of the agreement, JA solar supplied 43.8MW of modules to the solar facility.
The bifacial module combines bifacial cell technology with double-glass structure and will have the ability to generate clean energy from its backside.
JA Solar chairman and CEO Jin Baofang said: “Having established a manufacturing base in Malaysia in 2015, and having supplied modules for several large-scale bifacial double-glass projects in the local market, JA Solar has been actively increasing its presence in promoting new technologies to help local customers reduce levelised cost of electricity and raise customers’ returns.
“In the future, JA Solar will continue to promote the application of advanced technologies to push the development of the photovoltaic market in Malaysia and all other Southeast Asia countries.”
Once operational, the solar PV facility is expected to generate 74 GWh of renewable energy annually.
It is said to be part of Malaysia’s second-round Large-Scale Solar programme. /
RWE to acquire 2.7GW renewable project pipeline from Nordex
/ The Nordex Group has selected German electric utility company RWE Renewables as a buyer for its European onshore wind and solar projects.
The purchasing company will acquire a 2.7GW development pipeline of projects across France, Spain, Sweden, and Poland for about $470m (€400m).
The development pipeline includes 1.8GW of wind energy projects in various stages of development in France. It also includes 0.1GW of solar PV projects.
RWE Renewables CEO Anja-Isabel Dotzenrath said: “France is one of the most attractive markets in Europe and characterised by ambitious renewable energy targets.
“We are looking forward to working together with the experienced team which comes with a strong track record in the development of renewables projects.
“The transaction leverages our growth ambitions in France in the fields of offshore and onshore wind as well as large solar plants and battery storage.”
Completion of the proposed deal is subject to foreign investment approval in France as well as a French employee consultation process. /
Indian authorities approve APL’s 49% stake acquisition in OPGC
/ The Competition Commission of India has given approval to Adani Power’s proposed acquisition of a 49% stake in the Odisha Power Generation Corporation (OPGC).
The Adani Group owns Adani Power, which focuses on power generation. Last month, Adani Power signed definitive agreements with affiliates of AES Corporation, including AES India and AES OPGC.
As per the terms of the agreement, Adani agreed to acquire a 49% stake held by AES India and AES OPGC, for $135m.
From the 49% of OPGC traded, AES OPGC currently holds a 44.63% stake, while AES India holds 4.37%.
OPGC is a joint venture company between the state government of Odisha, AES India, and AES OPGC Holding.
After completion of the deal, the government of Odisha will continue to retain the remaining 51% stake in OPGC. It is the only thermal power generating company owned by the state government.
The joint venture has established two thermal power plants in the IB valley area of Jharsuguda district in Odisha, each with a capacity of 210MW each. /
ITER nuclear fusion project begins five-year assembly phase
/ The International Thermonuclear Experimental Reactor (ITER), a €20bn nuclear fusion project in France, has begun its five-year assembly phase.
The start of the assembly phase was marked with a virtual ceremony hosted by French President Emmanuel Macron. Dignitaries from the UK, China, India, Japan, Russia, and the US also attended, representing the non-EU ITER countries. South Korean President Moon Jae-In attended in person.
The ITER project started development in August 2010 on a 42ha-wide site in Southern France.
The reactor will fuse hydrogen isotopes into helium, imitating a reaction that creates power in the sun. The project aims to demonstrate the processes for generating clean fusion power at commercial scale. It will also act as a study for future prototype generators.
The generator, known as a tokamak, will create its first plasma after the completion of the assembly phase in 2025. /
Consortium-led LNG to power project in Myanmar gets approval
/ A consortium of Marubeni, Sumitomo, Mitsui, and Eden Group has received a notice to proceed (NTP) with an LNG power plant in Myanmar.
The Ministry of Electricity and Energy of Myanmar issued the notice for an LNG project in Thilawa. In doing so, the ministry has granted exclusive rights to the joint venture of the three Japanese companies with local conglomerate Eden Group.
The notice covers development, operation and ownership rights for the 1,250MW LNG-fuelled thermal power plant and onshore LNG receiving, storage and regasification facility. The companies say this will be one of the largest such developments in Myanmar.
The power generated by the plant will feed a 25-year power purchase agreement with Electric Power Generation Enterprise (EPGE). EPGE is a state-owned enterprise under MOEE.
The three companies will now focus on carrying out a detailed feasibility study. Following this, they will begin sourcing finances and constructing the power plant with its associated facilities.
Marubeni says power demand is particularly high in the Thilawa region, partly due to its Special Economic Zone. The company has also invested there, and Sumitomo has said it will soon make a similar investment. /
Acciona opens Spain’s grid-connected floating solar PhotoVoltaic plant
/ Renewable energy company Acciona has announced the opening of the first grid-connected floating photovoltaic (PV) solar plant in Spain.
The Sierra Brava photovoltaic plant sits on the reservoir of the same name in Extremadura province. It uses 3,000 solar PV modules of different types, which are distributed across five floating structures with different layouts, orientation and inclination.
The solar farm covers an area of 12,000m², approximately 0.07% of the total surface area of the reservoir.
Extremadura Regional Government president Guillermo Fernández Vara and Acciona president José Manuel Entrecanales inaugurated the new solar plant.
The ceremony was also attended by Acciona Energía CEO Rafael Mateo and institutional relations, sustainability, and brand director-general Joaquín Mollinedo.
The Sierra Brava plant is a demonstration project that will allow Acciona to gather information on the installation of solar panels on water. Engineers will look at the performance of different panel layouts and their cost-efficiency. It will also look at the costs of installation and maintenance. /
NRG Energy agrees to acquire Centrica’s Direct Energy for $3.625bn
/ NRG Energy has signed an agreement with UK supplier Centrica to acquire its North American subsidiary Direct Energy for $3.625bn in an all-cash transaction.
The acquisition will double NRG Energy’s customer base across the US and Canadian provinces to more than six million. With this acquisition, NRG aims to diversify its business and enter into states and locales where it does not currently operate.
Furthermore, Direct Energy’s eastern US footprint provides better balance to NRG’s existing portfolio while also allowing it to expand its capital-light renewable power purchase agreement strategy beyond Texas. While accounts are not available, Centrica said the sale price represents nearly eight times the company’s adjusted raw earnings in 2019.
NRG says the acquisition will give it $740m in raw earnings once completed. In its announcement, a company spokesperson said the deal “provides substantial regional diversity to NRG” and that it will “allow the combined company to reduce costs and leverage shared best practices”. /
Brazil’s Eneva offers $1.4bn to acquire stake in AES Tiete
/ Brazilian power generation company Eneva has reportedly submitted an offer of a $1.44bn (BRL7.5bn) to acquire a controlling stake in AES Tiete Energia.
Reuters reported that the proposal was presented to BNDES Participacoes, a holding company for Brazilian state bank BNDES.
BNDES Participacoes also holds a major stake in AES Tiete, which is controlled by Virginia’s AES Corp.
For this deal, Eneva has offered to AES Tiete’s shareholders a fraction of its new common shares in exchange for each common or preferred share of the target company.
It has also offered to pay a 13.3% premium to buy out AES Tiete shareholders using $611.29m (BRL2.75bn) in cash and $742m (BRL3.9bn) worth of Eneva shares. These shares hold equivalent value to a 22.6% stake in Eneva.
The offer is almost $190m (BRL1bn) higher than Eneva’s previous bids. In March this year, AES Tiete revealed that it received a $1.5bn (BRL7bn) merger proposal from Eneva to create a combined power generation company. However, the offer was rejected by AES Tiete’s board. /