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The world's largest solar rooftop and other record-setting green initiatives reinforce the kingdom's reputation as Southeast Asia's clean energy powerhouse BANGKOK, Aug. 9, 2023 /PRNewswire/ -- On a rooftop larger than 18 football fields in the heart of Thailand's high tech Eastern Economic Corridor, a record-breaking renewable energy project is under construction by international investors. The world's biggest solar rooftop: Kansai Electric Power’s Thailand unit is installing solar panels equivalent in size to over 18 football pitches on this plant making Falken tires for the European market. Kansai Electric Power Co., Japan's second largest electricity supplier, is creating the world's biggest stand-alone rooftop solar panel installation atop a factory that manufactures high performance Falken tires for the European market. Together with a gas co-generation system and additional electric power fueled by biomass from surplus rubber trees, the 40,000-panel, 100,000 square meter rooftop will have in 2025 a total output of 22MW, reduce Co2 emissions by 38,000 tonnes and ultimately enabling the factory's owner, Sumitomo Rubber Industries Ltd, to function entirely on renewable energy. For the companies involved and independent experts alike, the rooftop within the Amata City Rayong industrial park, 135 kilometers southwest of Bangkok, is further evidence that Thailand is now the clean energy frontrunner among the 10 countries that comprise the Association of Southeast Asian Nations (ASEAN) – a region with a $3.2 billion economy and 660 million consumers. "In terms of the promotional force of the country, we think Thailand is the most advanced in the ASEAN region," Katsuhisa Yamamoto, managing director of Kansai's Thai unit, says. Quite how advanced is becoming increasingly clear. As part of a sweeping national sustainability strategy known as the Bio-Circular Green economy, the Thai government has successfully packaged a raft of subsidies, tax breaks and other incentives to lure investors to finance and build renewable energy-related projects. "It's very important for our business, especially in tax benefit," Yamamoto says of the government's support. Indeed such has been the enthusiasm from investors that in the first six months of 2023, 186 of 195 applications to the Thailand Board of Investment (BOI) for power generation projects were renewable energy-related. Companies seeking clean energy opportunities in Thailand span the investment spectrum from Japanese and Korean power utilities to Chinese and European electric vehicle makers and U.S. technology giants such as Amazon Web Services and Western Digital Corp. Shuji Hashizume, a Bangkok-based Principal Investment Specialist in the Private Sector Operations Department of the Asian Development Bank, the Manila-based regional lender that has funded numerous green energy projects across Asia, believes those investors are going to the right place. "Thailand is the frontrunner in Southeast Asia," Hashizume said in an interview. "Climate change is the biggest agenda globally now and Asia is the epicenter of carbon emissions. Thailand will likely be leading the initiative in ASEAN and its importance cannot be over-emphasised." In perhaps the most noticeable example of the clean energy revolution taking place in Thailand, the country that has long been one of the world's leading manufacturers of cars and trucks powered by internal combustion engines has also become both the regional hub for electric vehicle production and its fastest-growing market. That's as a result of major investments by EV manufacturers such as BYD Co., Great Wall Motor and SAIC of China, Mercedes Benz of Germany and newcomer Foxconn Technology Group of Taiwan, better known as the world's largest contract maker of electronics, including Apple iPhones. Foreign investors are far from the only major players at the heart of Thailand's war on global warming. The country's largest enterprise, state-owned Fortune 500-ranked PTT PCL – still largely known outside Thailand as an old-economy oil and gas company – is spending billions of dollars on clean energy investments. They include a $1 billion EV joint venture with Foxconn and a $100 million partnership with the world's largest car battery maker, China's Contemporary Amperex Technology, or CATL. Meanwhile another state-owned power heavyweight, the Energy Generating Authority of Thailand, or EGAT, is transforming the country's major reservoirs by topping them with floating solar farms to form some of the world's largest dual-system power sources that deliver both solar and hydro-electric power. The Thai private sector is also playing a major role, led by such companies as electric bus and boat maker Energy Absolute PCL and electricity producer B.Grimm Power PCL. The contribution of Energy Absolute is clearly noticeable on the streets and waterways of central Bangkok, where public transport in recent years has become noticeably cleaner and quieter, the faint hum of electric buses and boats replacing the noise and fumes of diesel-powered predecessors. Elsewhere, Thailand's rapid industrial expansion has aligned with the growth of B.Grimm Power, a publicly listed subsidiary of the B. Grimm group, a Thai conglomerate established in Bangkok 145 years ago by German pharmacist Bernhard Grimm and an Austrian partner. In the 1990s, the company expanded into energy when it saw an opportunity to provide gas-fired electricity and steam to factories in the modern industrial parks springing up along Thailand's Eastern Seaboard. Today, B.Grimm Power is a multinational conglomerate that is not only one of the leading private power producers in Thailand, but also supplies clean energy from solar, wind and hydro projects across Asia and as far as Europe, the continent from which its founders originally hailed. B.Grimm Power is itself no stranger to record-breaking projects. In 2020, it teamed up with EGAT and Energy China to build the world's first 45-MW Hydro-floating Solar Hybrid plant that today floats atop the 288-square kilometer Sirindhorn Reservoir in northeastern Thailand. The same year, it also partnered with Korea Electric Power Corporation and Energy China to power Bangkok's third international airport at U-Tapao and the adjoining Airport City – both flagship projects in the development of Thailand's Eastern Economic Corridor, the hub of Thailand's transformation into a knowledge economy. In another world first, B.Grimm Power and its partners have created a hybrid system for U-Tapao, comprising an 80MW gas-fired power plant, a 15MW solar photovoltaic farm and a 50MW energy storage system. Meanwhile in the industrial estates where its power business first thrived, B.Grimm Power is partnering with Amata Corp. PCL, a Thai company that is developing its industrial parks into so-called smart cities, and Siam Cement Group, or SCG, the country's largest conglomerate, to increase supplies of clean energy and put more solar systems on factory roofs – a project also heavily backed by the Board of Investment. "Thailand is one of the pioneers in the region in promoting renewables into the masterplan of the country," Nopadej Karnasuta, B.Grimm Power's Senior Executive Vice President for Investment, Innovation and Sustainability, said in an interview. "It has been very, very successful and we are very fortunate to be part of it. The BOI has played an essential role in terms of promoting and incentivizing the investor community." Now B.Grimm Power is focused on what it terms a "greenleap" strategy in which it will invest some $2 billion to almost triple capacity from 3,668 MW to 10,000 MW by 2030 while at the same time doubling the proportion of renewable energy from 25 percent to 50 percent of the company's total output. There should be no shortage of takers for those renewables. With global CO2 emissions required to fall by 80 percent by 2050, B.Grimm Power estimates that Southeast Asia is going to need 920GW of renewable energy while only being on target to achieve 340GW – creating a shortfall of almost 600 GW. "You can say the sky's the limit for renewables," Nopadej said. Thailand's clean energy initiatives have clearly struck a chord with San Jose, California-based Western Digital Corp., one of the world's largest suppliers of data storage infrastructure, which has long been a major investor in the kingdom. Western Digital this year set itself ambitious new targets that include running its global operations on 100 percent renewable energy by 2030. And in Thailand it has announced it is collaborating with EGAT and Innopower, an energy innovations company set up by Thailand's leading power utilities, in a green tariff initiative that seeks to drive clean energy use in the kingdom. As part of the deal, Western Digital will use electricity from renewables at its factory in Bang Pa-In, north of Bangkok, and test green energy procurement options guaranteed by Innopower. "This is an important milestone for Western Digital in our sustainability journey where we have set an ambitious aim to reduce our carbon footprint," Philip Bernard, Senior Vice President of Western Digital Storage Technologies (Thailand), said at the signing ceremony. Tech behemoth Amazon.com Inc has set itself an even tougher target – to power its operations with 100 percent renewable energy by 2025. In 2022, its global cloud unit, Amazon Web Services, announced it would open an infrastructure region in Thailand, pledging to spend $5 billion in the country over 15 years. Amazon is the world's largest purchaser of renewable energy. It says that organizations that move compute workloads to the AWS Cloud can benefit from the net effect of Amazon's sustainability efforts to reduce their carbon footprint. Among its early customers: ENRES, a Thai startup that uses the Internet of Things and artificial intelligence to optimize energy usage in buildings and factories while simultaneously benefitting the planet. Thailand's road to renewables hasn't always been easy. The Asian Development Bank's Hashizume recalls that when the ADB helped finance Southeast Asia's first utility-scale solar investment in Thailand in 2010 there was much skepticism about the cost and reliability of renewable energy. Later, the country's enthusiasm for renewables seemed to wane for a few years because of the easy availability of gas fired power, Hashizume said. Now, he adds, Thailand has woken up again to the opportunities and is poised to benefit from a new wave of investment inspired by companies whose stakeholders demand high environmental, social and governance standards. In addition to solar, wind and hydro, Hashizume sees emerging opportunities in green hydrogen, ammonia, new areas of e-mobility, carbon capture and offshore wind. "Thailand will continue to be the frontrunner and we hope to be there to help do the financing," he says. To read the complete story, please click on the link below:https://www.boi.go.th/un/advertorial15 For more information, please contact:Thailand Board of InvestmentTel. +66 (0) 2553 8111Website: www.boi.go.thYouTube: Think Asia, Invest Thailand
Historic market opening attended by COP28 President-Designate Dr Sultan Al Jaber, the founding CEO and now Chairman of Masdar, the UAE's flagship renewable energy company Green bond is the first part of Masdar's program to raise debt capital to fund new clean energy projects In lead-up to UAE hosting COP28, milestone showcases the UAE's commitment to advancing decarbonization and unlocking climate finance around the world ABU DHABI, UAE, Aug. 7, 2023 /PRNewswire/ -- Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE). Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE). The market opening was attended by HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, HE Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ambassador HE Mansoor Abulhoul, UAE Ambassador to the UK, and Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi. The market opening was attended by HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, HE Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ambassador HE Mansoor Abulhoul, UAE Ambassador to the UK, and Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi. Masdar completed a US$750 million 10-year green bond offering on the LSE on July 19, 2023, which was more than five times oversubscribed with exceptionally strong appetite from regional and international investors. It marks a historic moment on a remarkable journey for the UAE's flagship renewable energy company since it was established in 2006 under its founding CEO, and now Chairman, Dr Sultan Al Jaber. Dr Sultan Al Jaber has been a pioneer at the forefront of the global renewable energy sector for 17 years. Under Dr Sultan's leadership, Masdar has developed over 20GW of renewables capacity across more than 40 countries, has invested more than US$30bn, and is targeting a 100GW portfolio by 2030. As the UAE looks ahead to hosting the UN climate change conference, COP28, with Dr Sultan as President-Designate, this milestone showcases the UAE's and Masdar's commitment to advancing decarbonization and climate finance around the world. HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar said, "This is a defining moment for Masdar and climate finance and we are delighted to stand on the world stage at this historic market opening ceremony. The demand for green bonds is extremely high and will enable investment in renewable energy projects, many of which will be in developing economies and climate-vulnerable countries. But there is more to do if we are to unlock finance for the energy transition to support the tripling of global renewable energy capacity by 2030. The successful issuance of Masdar green bonds will support this aim, by helping to provide funding towards renewable energy projects where they are needed most." Mohamed Jameel Al Ramahi, Masdar's Chief Executive Officer, said, "Today we're proud to celebrate the success of Masdar's debut green bond issuance, a testament to the pioneering spirit of all the people who have worked incredibly hard over the last 17 years to grow Masdar into one of the world's leading renewable energy companies. It follows the publication of our innovative Green Bonds Framework, published in March 2023, which received the highest Sustainability Quality Score of 'SQS1' from Moody's Investors Service, and is part of a broader program to fund our ambitious growth plans." Julia Hoggett, CEO, LSE plc, and Head of Equities, Capital Markets, LSEG, said, "We congratulate Masdar on the successful listing of its debut green bond on the London Stock Exchange, the proceeds of which will support renewable energy projects. We are proud that our markets are helping to accelerate the low-carbon transition by providing access to capital for companies, funds and governments worldwide." This bond is the first part of a program to raise up to US$3 billion to meet Masdar's equity funding commitments on new renewable energy projects at home and overseas, as it seeks to grow its global portfolio to 100GW of capacity by 2030. Masdar also plans a secondary listing of its green bond offering later this year on Abu Dhabi Securities Exchange (ADX), the second largest market in the Gulf region. Proceeds from all bond offerings under the program will be deployed towards the greenest projects in the renewables sector, namely solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets, and strict ESG criteria will apply to restrict the eligibility of projects. Established in 2006, Masdar is the UAE's clean energy powerhouse. It is active in over 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of around 20 gigawatts (GW). Masdar aims to grow this to at least 100 GW by 2030. The company is also targeting green hydrogen production of 1 million tonnes per annum by the same year. For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar About Masdar Abu Dhabi Future Energy Company (Masdar) is the UAE's clean energy champion and one of the largest companies of its kind in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year. This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC. Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE). The market opening was attended by HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, HE Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ambassador HE Mansoor Abulhoul, UAE Ambassador to the UK, and Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi.
CK Power Public Company Limited (CKPower), one of Southeast Asia's largest renewable energy players, has won the Asia Responsible Enterprise Awards 2023 for its outstanding practices in "Social Empowerment" SINGAPORE, Aug. 7, 2023 /PRNewswire/ -- Recognized as the "gold standard" in environmental, social, and governance (ESG) and sustainability practices throughout the region, the Asia Responsible Enterprise Awards (AREA) is one of the most prestigious award recognition programs for organizational efforts in creating a culture of compassion, and integrity and in being socially responsible corporate citizens. "It is our greatest honor to receive this Asia Responsible Enterprise Awards which have reaffirmed our commitment to be a good corporate citizen and a key promoter of the net-zero emission by 2050 through development of our green power plant projects," said CKPower's Managing Director Thanawat Trivisvavet. CKPower is one of Southeast Asia's largest renewable energy players with one of the lowest carbon footprints. Already having 93% of its installed capacity from renewable power sources, the company will move up the portion further to 95% next year when it completes expansion projects in Thailand and the region that will increase its installed capacity to 4,800 megawatts. Joining the United Nations Global Compact since 2020, CKPower has initiated several programs to promote sustainable development, value creation projects, and co-creation with all key stakeholders. Among many initiatives, the "Hinghoi Project" – now in its 8th year of consistent efforts, has been well recognized for its achievement in 11 out of 17 UN's Sustainable Development Goals. CKPower's corporate social responsibility initiatives embody the four core strategies of Competency, Co-Creation, Cooperation, and Connection. Competency in clean energy engineering means that CKPower is leveraging its expertise in clean energy in ways that will empower communities and stakeholders. Co-Creation with the community fosters innovative and sustainable societal advancements while the Cooperation strategy encourages collaborative development, enhancing society's progress. Last but not least, CKPower's Connection strategy works with value co-creation partners to strengthen society sustainably. To bolster sustainability of its social responsible programs, CKPower also plans to establish a renewable energy fund to facilitate development and implementation of more initiatives that will ensuring a brighter, more sustainable future for the involved communities. "This demonstrates that sustainability is a core value in our operations," stressed the CKPower's Managing Director. The clean energy company also aims to foster social responsibility, awareness, and engagement among its employees. By cultivating a "Giving Culture" in its staff, the company will be able to nurture sustainable relationships across all organizational levels, communities, and network partners, thus, building an inclusive, resilient future. "CKPower will continue to leverage its expertise with the ultimate goal of improving the quality of life in remote areas through power plant operations. The company will be emphasizing its commitment to harnessing renewable energy to drive community development. "By empowering communities around its power plants and the remote areas in Thailand and the Lao PDR, the company will be able to give children a better quality of life through access to clean energy and essential utilities," he said. Since its start in 2016, the "Hinghoi Project" has built 41 public infrastructures which benefited 1,753 youths, and facilitated collaboration among 928 employees, nine communities, and 20 partner networks. With an established 8 learning centers, the company is now promoting sustainability knowledge about renewable energy. The goal for the "Hinghoi Project" in 2026 is to establish 90 public infrastructures, reach 6,200 youngsters, and promote sustainable development to empower society. The project's main objective is to provide communities with access to renewable energy, fostering collaboration among 1,279 employees, 13 communities, and 26 partnering networks for project development and establishing 12 learning centers to enhance renewable energy understanding. About Enterprise Asia Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. Please visit https://www.enterpriseasia.org/ for more information. About Asia Responsible Enterprise Awards (AREA) The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.
XI'AN, China, Aug. 7, 2023 /PRNewswire/ -- On August 3, the inaugural ceremony of the China Railway Express (Xi'an - Tashkent) freight train for exporting LONGi's PV modules to buttress Shaanxi-Uzbekistan economic and trade cooperation was successfully held at Xi'an. With a clear train whistle, "Chang'an", the freight train loaded with 20MW PV modules (first batch of products for the 1GW project in Uzbekistan), set off for Uzbekistan to support the green and low-carbon development of Central Asian countries. LONGi PV modules take “Chang’an” freight train to help achieve a greener Central-Asia. The construction of 1GW project in Uzbekistan was signed during the visit of the Uzbekistan Energy Minister to China and currently is the largest PV project invested by Chinese enterprises overseas. According to the agreement, China Energy Engineering Corporation (CEEC) will build two 500MW solar power plant in Uzbekistan's Qashqadaryo and Buxoro regions. As the most reliable and intimate partner of China Energy Engineering Corporation (CEEC), LONGi successfully won the bid and will exclusive supply all the 1GW PV modules. As the largest overseas N-type PV plant, the 1GW project in Uzbekistan will adopt LONGi's latest product Hi-MO 7 and all PV modules will be successively transported by "Chang'an" in 60th shipments with 3,000 containers. When put into operation, it is expected to generate 2.3 billion kWh of electricity annually, reducing natural gas consumption by about 588 cubic meters per year. The Hi-MO 7 modules used in the project in Uzbekistan, is LONGi's latest product launched in May this year at the Shanghai SNEC exhibition. It is a next-gen high-efficiency module designed for the global utility market. The product uses LONGi's HPDC cell technology based on N-type silicon wafers and incorporates SMBB welding technology on the module end. It maintains the standard module size of M10-72c (2278x1134mm) and can achieve a mass production module power of up to 580W with an efficiency of 22.5%. The module is particularly suitable for application in deserts and Gobi with high surface reflectivity and high environmental temperatures. Compared with mainstream bifacial modules, Hi-MO 7 can achieve a 3% increase in power generation. Based on high-quality silicon wafers, cells and module packaging design optimizations, LONGi provides a linear power output warranty with an annual degradation rate less than 0.38%, effectively ensuring long-term benefits for customers. Over the years, LONGi has always been focusing on customer value, continuously reducing LCOE via technological R&D and innovations. Since April 2021, LONGi has broken the world record for solar cell efficiency in different technical routes 14 times, and it recently achieved a new 33.5% efficiency for its perovskite/crystalline silicon tandem solar cells based on commercial CZ silicon wafers. Facing the trend of global energy transition, LONGi continues to innovate on products and services, allowing more people worldwide, especially those in developing and underdeveloped countries and regions, to enjoy affordable clean energy. Zhong Baoshen, Chairman of LONGi stated that the shipment of modules to Uzbekistan is the first overseas PV power generation project after the China-Central Asia Summit. It represents the important responsibility and mission undertaken by Chinese companies in the global energy field under the "Belt and Road" initiative. Looking forward, LONGi will continue to cooperate with partners and engage in the construction of new energy projects in Central Asia, supporting the development of PV industry along the B&R initiative with reliable and high-quality products. LONGi has achieved great results since the implementation of this national initiative. In 2022, LONGi provided 1/3 of the core equipment for PV projects in five Central Asian countries. In Uzbekistan, it participated in several government-led projects, including PV projects of the State Tax Committee Building of Uzbekistan, Almalyk Mining-Metallurgical Complex, and Uzbek State University of World Languages. In February this year, the company signed three MOU cooperation agreements with Uzbekistan and will also be deeply involved in the country's green energy transition in the years to come. So far, Chang'an has shipped LONGi's modules overseas for export for over 100 times, totaling 5,000+ HC containers. It has been to Netherland, Germany, Belgium and other different countries. LONGi will continue to deepen cooperation with countries and enterprises in Central Asia, lead technological innovation during the "Belt and Road" construction and promote the development of the industry.
SYDNEY, Aug. 3, 2023 /PRNewswire/ -- Sungrow, the global leading inverter and energy storage system solution supplier, announced a partnership with the Clean Energy Transfer Fund as key tolling partner for Hive Battery Developments. This collaboration aims to bring to life HIVE, a revolutionary energy storage initiative, using Sungrow's liquid cooling energy storage system (ESS) PowerTitan to energise the whole project. Empowered by cutting-edge solutions for energy storage deployment and utilisation, participating in frequency control ancillary services (FCAS) and arbitrage market, and further enlarging Australia's green power blueprint. As Australia sets its sights on achieving net zero emissions and phasing out coal-fired power generation by 2050, the nation faces the challenge of ageing conventional power plants. To meet the growing demand, Australia aims to build over 50 clean power plants, highlighting the key role of energy storage in ensuring stable and efficient utilisation of renewable energy. HIVE: A Visionary Battery Energy Storage Project HIVE is an innovative, scalable, and distributed battery energy storage project that can be easily adjusted to meet diverse requirements. The first HIVE battery will span 10 sites in New South Wales, combining seamlessly to deliver up to 49.9MW/200MWh of distributed energy storage. Each site will be equipped with an average connection and coordination scale of nearly 5MW, all controlled by cutting-edge virtual power plant technology. Innovative PowerTitan: The Future of Energy Storage At the heart of each HIVE lies Sungrow's cutting-edge energy storage solution, PowerTitan. Employing liquid cooling technology, PowerTitan incorporates industry-leading innovations, offering cost-effectiveness, seamless installation, unmatched operational safety, enhanced efficiency, and extended battery cycle life. Additionally, the system features smart monitoring capabilities, setting a new standard for energy storage technology worldwide. The ease of installation means that a HIVE battery can become operational within six months, a significant reduction compared to traditional grid-scale batteries that could take over two years to deploy. Impressively, PowerTitan has already secured global contracts exceeding 9GWh. Paving the Way to Grid Integration: Sungrow's Commitment to Quality Recognising Australia's stringent Registration of Generator Performance Standards (GPS), Sungrow has assembled a dedicated GPS grid-connection model team. The team's expertise ensures seamless grid integration, offering customers unparalleled grid-connection support services, underpinned by cutting-edge technology and rapid response times. Rob Ashdown, Co-Founder and Managing Director of Clean Energy Transfer Fund, said Sungrow has proven themselves as a very strong partner in the development of HIVE. "Sungrow has stepped up and supported Hive Battery Developments at each development hurdle, and we look forward to building a strong partnership with in the future." Joe Zhou, Country Manager of Sungrow Australia, stated, "Thanks to CETF for choosing Sungrow to participate in HIVE. Sungrow has been deeply engaged in the Australian market for a long time with innovative products and solutions, reaching an international advanced level". Mr Zhou reaffirmed Sungrow's dedication to ensuring the seamless delivery of the HIVE battery system, generating optimal yields for clients and expediting Australia's transition towards sustainable energy. About Clean Energy Transfer Fund (CETF) Clean Energy Transfer Fund is a leading energy trading fund based in Australia, committed to delivering attractive returns. With over A$100 million in assets under management, the fund provides traditional and bankable Power Purchase Agreements (PPAs) to medium and large clean energy developers across Australia's National Electricity Market. CETF's multi-market risk management approach, leveraging traditional and non-traditional financial markets, allows the fund to realise uncorrelated returns. About Sungrow Sungrow Power Supply Co., Ltd. is the world's most trusted and bankable inverter brand, with an extensive installation base exceeding 340 GW worldwide as of December 2022. Founded in 1997 by Professor Cao Renxian, Sungrow leads the solar inverter industry in research and development, boasting the largest dedicated R&D team. The company's diverse product portfolio includes PV inverter solutions, energy storage systems, floating PV plant solutions, EV charging solutions, NEV driving solutions, and renewable hydrogen production systems. With over 26 years of expertise in the PV space, Sungrow's products power more than 150 countries worldwide. For more information about Sungrow, please visit www.sungrowpower.com.
Dialogue with International Climate Organizations Crucial for Fostering Understanding, Smooth Transitions, and Concrete Actions in Asia TAIPEI, Aug. 2, 2023 /PRNewswire/ -- During London Climate Week, Chang-Ken Lee, the president of Cathay Financial Holdings (Cathay FHC), visited the Climate Group's headquarters in London, where he met with Mike Peirce, Executive Director, Systems Change of the Climate Group, Sam Kimmins, Director of Energy of the Climate Group and Head of RE100, and Oliver Wilson, RE100 Lead. They engaged in fruitful discussions, exchanging valuable insights on achieving net-zero carbon emissions by 2050, not only for Taiwan but also for the broader Asia region. President of Cathay Financial Holdings CK Lee visited the Climate Group to discuss net-zero experiences and challenges. From left to right are RE100 Lead Oliver Wilson, the Climate Group Director of Energy and Head of RE100 Sam Kimmins, the Climate Group Chief Executive Helen Clarkson, Cathay FHC President CK Lee, and the Climate Group Systems Change Executive Director Mike Peirce. Lee emphasized that sufficient power supply and a robust power grid are among the top energy concerns for Taiwanese businesses. In addition to championing Cathay FHC' own commitment to achieve 100% renewable energy usage, they have been using their financial influence to support other Taiwanese companies in their journey towards net-zero emissions. Following his participation as the first Taiwanese speaker at the Climate Investment Summit hosted by the World Climate Foundation at the London Stock Exchange in late June, Lee continues to engage with international organizations. He stated, "Engaging in dialogues with international climate organizations plays a vital role in fostering understanding, facilitating smooth transitions, and uncovering tangible opportunities for taking concrete actions." Sam Kimmins highlighted that the RE100 initiative now includes 415 participating companies, with Asia experiencing the fastest growth, surpassing even Europe and the United States. Recognizing the urgency for Asian businesses to address net-zero carbon emissions, the Climate Group recently partnered with the World Resources Institute (WRI) and the Global Wind Energy Council (GWEC) to establish the Asian Clean Energy Alliance (ACEC). ACEC aims to bring together renewable energy buyers, sellers, and financial institutions in Asia to foster collaboration and facilitate open corporate procurement, strategically influencing policy changes in key Asian markets and supporting businesses in sourcing renewable energy. Lee discussed the current state of Taiwan's energy market, highlighting the significant challenges faced by Taiwanese industries. With over 90% of energy relying on imports, achieving 100% comprehensive use of renewable energy requires collaboration between Taiwan's industries and various sectors to find workable solutions. Failure to fully transition to renewable energy before 2030 could lead to some companies being eliminated by major brands in global supply chain. Lee further emphasized that Taiwanese businesses are particularly concerned about two energy-related issues: the adequacy of Taiwan's energy generation capacity and the need for a stable and reliable power grid to ensure a consistent and dependable energy supply. Alongside Lee's active engagements, Sophia Cheng, the CIO of Cathay FHC, also participated in the inaugural Climate Group Asia Action Summit held in Singapore in June. During the summit, she joined representatives from Delta Electronics, Amazon, and Orsted in discussing their perspectives on green energy adoption. Cheng expressed immense pride in Cathay FHC being the pioneering Taiwanese financial institution to join RE100. The company is wholeheartedly committed to embarking on the journey towards achieving net-zero transformation, focusing on three key aspects: green operation, green capital, and green business. The Climate Group has expressed appreciation and recognition for Cathay FHC's unwavering commitment and contributions towards promoting 100% renewable energy adoption. Cathay FHC has actively embraced sustainability and supported the transition to clean energy, leading the way in adopting renewable energy solutions and setting a positive example for others. These efforts highlight the influential role of the private sector in addressing climate change issues. The Climate Group looks forward to collaborating with Cathay FHC and applauds their dedication to creating a greener and more sustainable Taiwan. As the first financial institution in Taiwan to join RE100, Cathay FHC demonstrates a steadfast commitment to combat climate change and envisions a collaborative journey with the Climate Group towards building a greener and more resilient future.
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