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Trincomalee Power Company Limited. The Government of India’s line of credit for the project totals US$ 200 million.
MOST READ More Japanese reactors to come online in 2013
Japan’s Nuclear Regulation Authority says that the start-up of more idled nuclear reactors will not come until next year. The NRA, the new nuclear energy regulator, said it will compile a blueprint of new standards to govern restarts by next March and subject this to public discussion.
Suzlon defaults on US$209 million debt
Terra Firma invests heavily in China’s renewable energy
A major British private equity firm is continuing its diversification into renewable energy by setting up a US$5 billion investment fund in China. Terra Firma Capital Partners Ltd is planning a fund of up to US$5 billion with China Development Bank for investments in renewable energy in China. The partners are expected to start raising between US$3 and US$5 billion in the next few months.
Indonesian gas service provider expands into electricity business Publicly listed oil and gas services provider PT Radiant Utama Interinsco plans to build hydropower plants in West Sumatra to diversify its business. Radiant’s subsidiary PT Supraco Mitra Energie will build three minihydropower plants in Solok, West Sumatra--the PLTMH Gumanti 1, 2 and 3. The three plants have a $40 million price tag and
Japanese reactors to open
a combined capacity of 15 MW.
Vietnam scraps nine hydroelectric projects
Six hydropower projects of Vietnam’s Thua Thien Hue Province that have low economic values which were forecasted to cause severe flooding were cancelled. This was announced by Provincial People’s Committee Vice Chairman Le Truong Luu. The projects were six of the 21 hydropower projects approved in the plan until 2020.
Four turbines of Malaysia’s Bakun hydel dam to be commissioned
Sarawak Hidro will commission the remaining four of the eight turbines at Bakun hydroelectric dam by stages in the second half.
The installation of the fifth to eighth turbines from Argentina was in progress and those would be commissioned in stages, said Managing Director Zulkifle Othman. “Testing of the fifth turbine is expected to be carried out in March next year,” he noted.
Indonesian firms to help build power plant for Malaysia
Two Indonesian companies and a Malaysian company will develop a coal-fired power plant that would deliver electricity to Malaysia. Indonesia’s Perusahaan Listrik Negara and coal miner Tambang Batubara Bukit Asam and Malaysian electricity utility firm Tenaga Nasional inked an MoU for the project in the Indragiri Hulu district, Riau. The MoU includes
the construction of an undersea cable connecting Indonesia and Malaysia.
Vietnam notes renewable energy sites
Vietnam has identified locations suitable for green and renewable energy projects that foreign firms can invest in. A report by the Ministry of Industry and Trade said Vietnam’s energy use relative to GDP growth is double that of developed countries, indicating vast efficiency improvements in energy use are needed.
India to lend $200M for Sri Lanka’s 500MW coal power plant India will extend financial support to Sri Lanka to set up a 500MW coal based power project in the Trincomalee region of Sri Lanka through
Publisher & EDITOR-IN-CHIEF
MICA(P) 248/07/2011 Asian Power is a bi-monthly news magazine published by Charlton Media Group Pte Ltd registered in Singapore. Its circulation is to leaders in the Asian power industry and is available on a controlled circulation and paid basis. CONTACT THE PUBLISHER Charlton Media Group, #06-09 E, Maxwell House 20 Maxwell Road Singapore 069113 www.charltonmedia.com, +65 3158 1238
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Suzlon Energy has been hit with India’s largest convertible bond default to the tune of US$209 million. Suzlon defaulted late last week after bondholders rejected its request for a four-month extension. The company has started talks with senior-secured lenders and bondholders on options. Suzlon requested the extension on the bonds’ maturity to Feb. 11, 2013 saying it needed time to raise funds from fresh debt and the sale of noncritical assets, among others.
Solar energy dominates Japanese clean energy projects
Solar energy projects constitute 83% of clean energy projects recently approved by the Japanese government. The Ministry of Economy, Trade and Industry approved clean energy projects totaling 1,780 megawatts of capacity. Of this total, solar projects accounted for 1,480 megawatts or 83%, followed by 292 megawatts in wind projects. Since April, Japan has added 912 megawatts of clean energy capacity with solar projects comprising 885 megawatts of the total.
Tim Charlton Jonnel Martin Herman Daniela Gujilde Tim Charlton tim@charltonmediamail.com Laarni Salazar-Navida lanie@charltonmediamail.com
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