SolarQuarter Feb-March ASEAN Issue 2021

Empowering, Insightful, Engaging

W W W . S O L A R Q U A R T E R . C O M

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CONTENT IN CONVERSATION

NEWS

03 INSIGHTS

21 ASEAN Quickly Turning to Renewable Energy Hub

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13 NIRANPAL SINGH General Manager APAC, BayWa r.e. Energy Solutions Sdn Bhd.

15 EDDIE TAN

KO CHUAN ZHEN,

Vice President, Energy Transition and Integrated Solutions, Sembcorp Industries

CEO & Co-Founder of Plus Solar Systems Malaysia

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SPECIAL FEATURE

NIKESH SINHA Director & CEO, 8.28 Energy

The Achievements of Solar Leaders Gets Recognized at Solar Project Engineering Week ASEAN 2021 Awards Ceremony

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Chief Executive Officer, Tona Syntegra Solar

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THE SOLAR PROJECT ENGINEERS SHARE THEIR SUCCESS MANTRA

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SOLAR ENERGY

ASEAN NEWS UNDER THE SPOTLIGHT

RENEWABLE ENERGY KEY TO ACHIEVE ASEAN COUNTRIES’ ASPIRATIONAL SUSTAINABILITY ROADMAP BY 2025 ASEAN countries have laid an aspirational five-year sustainability plan to improve the renewable energy (RE) capacity in the power mix to 35% to achieve the target of 23% of RE in the total primary energy supply by 2025. The renewables (including hydro) under this vision can witness a new capacity build of approximately 35-40GW by 2025. This plan will help the countries to reduce their pollution level and reach closer to their sustainable and de-carbonization target, says GlobalData, a leading data and analytics company. Vietnam, Thailand, the Philippines, Malaysia and Indonesia, represent a share of about 84% of the total installed RE capacity among the ASEAN countries. Vietnam leads the sustainability change with 34% share, followed by Thailand (17%), Indonesia (13%), Malaysia (10%) and the Philippines (10%). By the end of 2019, the share of REsources (including hydro) was 29% with respect to the total RE cumulative installed capacity in the ASEAN region. The implementation of the renewables, mainly solar PV and wind, has caught the interest of several countries, subsequent to the low cost of installation bringing down the grid parity at a competitive level with other low cost power generation technologies.

MALAYSIA GIG PORTFOLIO COMPANY BLUELEAF ENERGY SIGNS ROOFTOP SOLAR PPA WITH BOSCH MALAYSIA

BAYWA R.E. SECURES SALE OF TWO SOLAR FARMS IN MALAYSIA

GIG portfolio company Blueleaf Energy has completed the construction and reached energisation of its first corporate PPA rooftop solar power plant in Penang Malaysia, providing renewable energy to the automotive electronics plant of Robert Bosch (M) Sdn Bhd (Bosch). The power generated by the 3 MW plant is provided on a self-consumption basis with the opportunity for Bosch to sell excess generated energy back to the grid under Malaysia’s NEM (Net Energy Metering) scheme. Fulfilling its commitment to clean renewable energy, Bosch dedicated a rooftop area of 24,500 m2 for installation of around 7,500 solar panels. Blueleaf Energy is contracted to supply power and will own and manage the photovoltaic asset. Greencells Energy Asia Pacific also participated in the project as the Engineering, Planning and Construction (EPC) contractor.

BayWa r.e. has announced the successful sale of two solar farms in Malaysia to a local renewable energyfocused independent power producer, reNIKOLA Sdn Bhd. The sale of the solar installations at Arau and Gebeng was conducted in two stages and finalised in December 2020.

The 5.2MWp development at Arau was BayWa r.e. ' s first foray into the utility scale market in Malaysia and is located on the university campus at Perlis. The project marked a significant milestone for BayWa r.e., as it was not only won in Malaysia’s first ever solar auction, but it was one of the first to start generating renewable energy for the country when commissioned in March 2018. The second project sold is the 39MWp Gebeng solar park. Completed at the end of 2019, it was won in the Government’s second solar auction.

Delivered in only 17 months it was the first solar park to generate power in the LSS2 auction.

| ASEAN | FEB-MARCH ISSUE 2021

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IB VOGT ACHIEVES FINANCIAL CLOSE AND START OF CONSTRUCTION OF 116 MWP SOLAR PV PROJECT IN MALAYSIA ib vogt announced the successful financial closing and start of construction of Coara Marang Solar Project. The project of 116 Megawatts (MWp) has been developed, in consortium with its Malaysian project partner Coara Solar, under the third round of the Large Scale Solar (LSS3) scheme issued by Suruhanjaya Tenaga (Energy Commission of Malaysia) in 2019 as part of the government’s efforts to increase the country’s renewable energy mix from 2% to 20% by 2025. The power plant located in Marang, Terengganu – in north-east of Peninsular Malaysia, comprising 245 hectares, will deploy high-class bifacial technology mounted on single-axis trackers, in order to achieve maximum energy production efficiency. Once operational in Q1, 2022, Coara Marang Solar Project will deliver circa 230 GWh of clean energy per year and avoid more than 170,000 tonnes of CO2 emissions per annum.

VIETNAM: VIETNAM ACTIVATES RENEWABLE DEVELOPMENT SPREE, SOLAR AND WIND TO OUTSHINE OTHERS AS COST DECLINES The Vietnamese renewables industry has been gaining traction lately as the country considers renewable energy to play a pivotal role in achieving the optimistic Power Development Plan (PDP). Against this backdrop, solar PV and wind are expected to steer the Vietnamese power sector decarbonization and bring down the cost of solar PV systems by about 25% and wind projects by 17% by 2030, says GlobalData, a leading data and analytics company. The country has revealed a clear roadmap that has attracted the investors’ interest and boosted the confidence enabling the future assurance of an attractive and sizable renewable market among the Southeast Asian counterparts. Although COVID-19 is continuing to unfold in unpredictable ways, it has a limited impact on the investors’ sentiments. Vietnam’s renewable sector witnessed an improvement in the deal volume with 19 asset transactions deals recorded by end November 2020 against the 16 deals during 2019.

SHARP BUILDS MEGA SOLAR POWER PLANT IN BINH DINH PROVINCE, VIETNAM Sharp Energy Solutions Corporation (SESJ) announces the completion of a mega solar power plant in Binh Dinh Province, Vietnam. The new plant has an output of approximately 50 MW-dc, with annual power generation capacity estimated at 82,506 MWh/year. This is equivalent to the amount consumed in a year by about 43,700 average Vietnamese households. SESJ has so far constructed six solar power plants in Vietnam, for a combined capacity of approximately 290 MW-dc. This new plant will raise the total capacity to approximately 340 MW-dc. The Vietnamese government has formulated a plan to raise solar power generation capacity in the country to 12,000 MW by the year 2030.

| ASEAN | FEB-MARCH ISSUE 2021

BLUELEAF ENERGY REACHES ENERGISATION OF ROOFTOP SOLAR PLANT FOR BOSCH IN PENANG, MALAYSIA Blueleaf Energy has commenced supply of power from a rooftop solar system under its first corporate power purchase agreement (PPA).The solar plant supplies power to Robert Bosch (M) Sdn Bhd (Bosch) at its automotive electronics plant in Penang, Malaysia. Blueleaf Energy is a leading pan-Asian renewable energy development platform, owned by Macquarie’s Green Investment Group (GIG). The power generated by the 3MW plant is provided on a selfconsumption basis with the opportunity for Bosch to sell excess generated energy back to the grid under Malaysia’s NEM (Net Energy Metering) scheme.

THE ELECTRICITY AND RENEWABLE ENERGY AUTHORITY HAS ISSUED A DOCUMENT ON ROOFTOP SOLAR PV DEVELOPMENT IN VIETNAM The Electricity and Renewable Energy Authority (under MOIT) has issued a document stating that the Electricity and Renewable Energy Authority is currently coordinating with consulting units to study models, scale and electricity purchase price for each type of rooftop solar power (RSP) and it is expected that in the QI of 2021, it will report to the MOIT for consideration and submission to the Prime Minister on policies to encourage RSP for the next period. The Power Companies will stop receiving and settling requirements for connection and signing PPAs from the RSP systems developed after 31 December 2020 until there are new instructions from the authorities. For the RSP projects developed after 31 December 2020,

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INDONESIA CLEANTECH SOLAR ENTERS INTO A LONG-TERM COOPERATION WITH ELANG PERDANA, A MAJOR INDONESIAN TYRE MANUFACTURER Cleantech Solar, one of the largest commercial and industrial (C&I) solar PV developers in Asia, enters into a long-term agreement with PT. ElangPerdana Tyre Industry for a 4.5 MW solar PV project.

Cleantech Solar will provide the complete turnkey solution and guarantee the performance of the solar PV system throughout the lifetime of the 25-year agreement. This project will help Elang Perdana with their sustainability agenda by generating over 136,300 MWh of clean electricity; equivalent to offsetting over 117,500 tonnes of CO2 emissions. With the switch to solar power, Elang Perdana will enjoy the benefits of a cleaner and cheaper source of electricity to power its manufacturing processes at zero upfront capital investment. This contributes to Indonesia’s ambitious target to increase its share of renewables in the national energy mix to 23% by 2025.

THAILAND: AYUTTHAYA LAUNCHES 999.96 KWP ROOFTOP SOLAR PROJECT WITH CONSTANT ENERGY Hana Semiconductor (Ayutthaya), the subsidiary of the Hana Group, one of the leading independent “Electronic Manufacturing Service' ' (EMS) producers of SouthEast Asia, has officially announced the grand opening ceremony for its first Solar Rooftop Project with a total installation capacity of 999.96 kWp in collaboration with Constant Energy. Richard David Han (Executive Vice Chairman and Chief Executive Officer), Terrence Philip Weir (Executive Vice President and Chief Financial Officer), Sanjay Mitra (Vice President), and other Hana’s executives have engaged in this ceremony along with Hi-Tech industrial estate and IEAT (Industrial Estate Authority of Thailand); Ms. Artitaya Klandeema (Director), and the team as the key representatives for this ceremony. The speech was given from each side before cutting the ribbon at the rooftop where the project is installed.

BCPG INCREASES CAPITAL, PLANS TO BECOME LEADER OF POWER PLANTS IN ASEAN REGION BCPG has excellent response for both retail and specific investors to exercise their rights in full. Making the business position even stronger By receiving money immediately over 7,000 million baht and gradually receiving the remainder from warrant exercise Total 10,235 million baht from now ready to go for business fully Set the future goals to be the leader of the ASEAN power plant “Bandit Saphienchai”, indicating that shareholders are confident because the Company There is a clear plan to spend and expand the business.

Make a commitment to do all the work to keep up with good growth and to stand firm. On the part of Bangchak Corporation Public Company Limited, as the major shareholder of BCPG Has exercised the right to buy new shares in full proportion.

| ASEAN | FEB-MARCH ISSUE 2021

B.GRIMM RECEIVES $186 MILLION GREEN LOAN FOR VIETNAM SOLAR DEAL B.Grimm Power Plc, Thailand’s power generation firm has reached a US$186-million syndicated loan deal with Asian Development Bank (ADB).

ADB is a key lender to finance its solar farm in Vietnam which also is one of the largest solar power generation facilities in Southeast Asia. ADB will support a 257 MW solar power plant in Phu Yen province on the south-central coast.

ADB granted a loan of $27.9 million whereas five commercial banks which included Bangkok Bank, Kasikornbank, Kiatnakin Bank, Industrial and Commercial Bank of China (ICBC) and Standard Chartered Bank provided a total of $148.8 million.Leading Asia’s Private Infrastructure Fund (LEAP) also lended $9.3 million.

EXXONMOBIL, HAI PHONG CITY AND JERA SIGN MOU FOR INTEGRATED LNG TO POWER PROJECT IN VIETNAM ExxonMobil Hai Phong Energy Pte Ltd (EMPHE), Hai Phong People’s Committee and Japan power generation company JERA have signed a Memorandum of Understanding (MOU) to work together on a potential integrated LNG to Power project in Hai Phong. ExxonMobil has submitted a master plan application with a project concept for consideration and potential inclusion in Vietnam’s National Power Development Plan (PDP). Hai Phong City has submitted a letter of recommendation to include power demand with potential locations of power plants and LNG import infrastructure. The project submissions are pending government approvals.LNG-fueled power in Hai Phong will provide a more environmentally friendly alternative to the currently proposed coal projects in the master plan.

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CLEANTECH SOLAR COMPLETES FOUR SOLAR ROOFTOP PROJECTS FOR CARGILL THAILAND Cleantech Solar has announced the completion of four rooftop solar PV systems at Cargill sites across Thailand under long-term agreements where Cleantech Solar has funded, built, and will operate and maintain the systems. The solar power plants have a combined generating capacity of 2.4 MW and are located in different locations in Lopburi, Korat and Phetchaburi.

The four operating sites are expected to generate over 3,000 MWh of clean electricity in a year which is equivalent to reducing 1,750 tonnes of CO2, representing perceptible efforts by Cargill to cut down greenhouse gas emissions from its operations globally. The new sites will add on to Cleantech Solar’s portfolio of operating solar power plants in Thailand, which have since generated over 35 GWh of clean electricity, enough to power 17,500 Thai households per year.

TMB BANK BACKS CONSTANT ENERGY WITH US$50 MILLION FOR GREEN PROJECT FINANCE IN THAILAND TMB Bank Public Company Limited is further expanding its financing activities in the commercial and industrial (C&I) solar sector by providing Thailand-based Constant Energy Group with a 1.5 billion THB (approx. US$50 million) long term green project finance loan package. The funding will be deployed to further expand Constant Energy’s sizable portfolio of solar energy projects for leading C&I clients in Thailand. The solar power projects developed and operated by Constant Energy ensure C&I offtakers have access to clean and reliable power vs grid supplies, at a significant discount to grid prices or diesel alternatives, improve resiliency against grid interruptions, and allows customers to focus on their core activities while meeting their carbon emissions reduction and sustainability targets. Given the increasing power requirements of C&I customers and the high cost-saving potential these solar solutions offer, the market is expected to grow dynamically over the coming years.

SHARP INSTALLS SOLAR POWER SYSTEMS ON ROOFTOPS OF TWO MINEBEAMITSUMI PLANTS IN THAILAND Sharp Energy Solutions Corporation (SESJ) has successfully installed solar power systems on the rooftops of two plants in Thailand run by MinebeaMitsumi Inc. The plants are the Bang Pa-in Plant in Ayutthaya Province and the Lopburi Plant in Lopburi Province. The Bang Pa-in system has an output of 3.12 MW-dc, which, together with the 1.88 MW-dc output for the Lopburi system, have a combined output of 5 MW-dc—one of the largest solar power systems installed by SESJ on factory rooftops in Thailand. The Bang Pa-in Plant will generate approximately 4,284 MWh annually, with approximately 2,583 MWh from the Lopburi Plant. This translates to an annual reduction in greenhouse gases of roughly 2,438 t-CO2 and 1,470 t-CO2, respectively. The generated electricity will be used within the plants, allowing them to reduce the amount of electricity they purchase from the grid.

| ASEAN | FEB-MARCH ISSUE 2021

BECIS-SYMBIOR SECURES 1.26 BILLION BAHT GREEN PROJECT FINANCE LOAN FROM UOB THAILAND, THAILAND’S LARGEST GREEN LOAN IN THE COMMERCIAL AND INDUSTRIAL SOLAR SECTOR BECIS-Symbior, one of the leading solar power developers in Asia, has secured a landmark 1.26 billion baht green project finance loan from UOB Thailand to finance its portfolio of onsite solar photovoltaic (PV) projects.

The deal, which will fund a total of up to 75 Megawatt-Peak (MWp) in installed capacity, is the largest portfolio financing in Thailand’s commercial and industrial solar sector to-date. BECIS-Symbior’s PV projects, when at peak production, will help reduce up to 41,000 tonnes of greenhouse gas emissions every year.

The U-Solar programme is part of the UOB Smart City Sustainable Finance Framework, which guides the Bank’s financing efforts to support the development of smart and sustainable cities across the region.

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CHPP TO KICK OFF 6MW SMART SOLAR ENERGY PROJECT AT SURANAREE UNIVERSITY GPSC has assigned its subsidiary, CHPP( Combined Heat and Power Producing Co., Ltd) to collaborate with Suranaree University of Technology in the 6-MW Sales of Solar Rooftop-Floating Solar Project, integrating smart energy innovations, including BESS, Block Chain, and AI, to increase efficiency in power generation and distribution in the form of Private Power Purchase Agreement (PPPA).

Under this project, smart energy innovations will be integrated with the Provincial Electricity Authority’s power grid for stable and reliable renewable energy solutions. A budget of approximately 150 million baht has been allocated for the project, which will result in more than 510 million baht energy cost saving throughout the 25-year duration of the project. The project will also serve as a smart energy learning center in the northeastern region and will be a model for a smart microgrid city. The project will also serve as a learning center on smart energy innovations in the northeastern region catering to staff, university students, and the general public. A budget of about 150 million baht has been allocated for the project, which is expected to be ready for commercial operation in 2022. The project’s installations are divided into three parts. In addition, the Lithium-ion Battery Energy Storage System (BESS) with a capacity of 100-200 kWh will be installed at Suranives Dormitory and a blockchain-based smart grid will also be set up for the management of solar power generation.

OSOTSPA PARTNERS WITH CLEANTECH SOLAR TO INSTALL 3MW ROOFTOP PV SYSTEMS Cleantech Solar announced the execution of a long-term solar power purchase agreement (PPA) with Osotspa Public Company Limited, Thailand’s leading consumer products manufacturer and distributor, for a combined 3 MW solar PV system on Osotspa’s five factories across Thailand. The rooftop solar PV systems will be financed, designed, installed, maintained and operated by Cleantech Solar for the full term of the agreement. The PV systems are expected to generate about 4,300 MWh of clean electricity in the first year, which is equivalent to offsetting over 2,400 tonnes of CO2 emissions.

BCPG ACHIEVES EARNING OF THB 10235 MILLION; FORGE AHEAD TO LEAD RE IN SOUTHEAST ASIA Bundit Sapianchai, BCPG President, disclosed that the Company had allocated 250 new right offering (RO) shares at a par value of THB 5.00 per each to existing shareholders with the right to exercise at the ratio of 8 existing shares to 1 new share, at the offering price of THB 11.50 per share. Apart from BCPG’s existing shareholders, the Company had allocated new shares to Private Placement investors – Pilgrim Partners Asia (Pte.) Ltd. and Capital Asia Investments Pte. Ltd., – where the two financial institutions have already paid the capital. The THB 3,570 million will be apportioned to a 600-MW wind power project in Laos (2020 – 2023) and payments to loan programs for 20-MW solar power projects in Thailand (2020 – 2022). The Company also plans to invest THB 1,870 million in transmission line system projects in Vietnam in 2020, including payments to loan programs for 114-MW hydropower projects in Laos – Nam San 3A and Nam San 3B. | ASEAN | FEB-MARCH ISSUE 2021

THAILAND’S LOW CARBON GOAL TO HINGE ON GASBASED GENERATION AND RENEWABLES EXPANSION Thailand’s power sector is heavily dependent on fossil fuels with 81% share in the generation mix meeting the country’s growing power demand. Thailand’s latest Power Development Plan (PDP) has set the expansion plan of gasbased power generation and renewables with a slow phase-out of coal generation to meet the low carbon transition target. The share of non-hydro renewables in the generation mix is set to grow from 15% in 2019 to 22% in 2030 while the gas-based generation is set to expand from 62% to 76% during the same period, says GlobalData, a leading research and analytics firm. By 2030, the non-hydro renewable capacity is set to double, crossing 18GW in 2030 from the present 9GW. According to GlobalData, the new capacity that is likely to be installed by 2030 will have 4.7GW of solar PV, 5.2 GW of gas projects, biopower 2.6GW and Wind 1.4GW. As part of the low carbon transition plan, Thailand has set a target of achieving 30% of its power generation from renewables by 2036. The renewable growth will be led by biopower followed by solar PV and then wind.

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THAILAND’S GPSC ESTABLISHES JOINT VENTURE WITH GRP ; AIMS TO COMPETE AGGRESSIVELY IN INTERNATIONAL RE MARKET PTT Group is restructuring shareholding in GRP to support an expansion of renewable energy internationally, focusing on solar and wind power generation. The deal is worth approximately 693 million Baht and is another step in promoting greater cooperation under the stakeholder-centric Powering Thailand’s Transformation initiative and building an operational network among the PTT group of companies. This is in keeping with PTT Group’s strategy in being the leader in the renewable energy or clean energy business, enabling the group’s business and investment expansion, increasing competitive advantage in the renewable energy business and supporting PTT Group’s goal in reaching the renewable power generation capacity of 8,000 MW by 2030.

AISIN GROUP AND CONSTANT ENERGY / SHIZEN ENERGY EXECUTE A CORPORATE PPA FOR A FIRST SOLAR ROOFTOP IN THAILAND Constant Energy, in a joint venture with its Japanese partner Shizen Energy, is pleased to announce that it has executed a long-term Power Purchase Agreement for a first rooftop-based solar PV plant with Aisin Thai Automotive Casting, a joint venture between Aisin Seiki Co., Ltd. (Japan) and Toyota Tsusho (Thailand) Co., Ltd. This solar rooftop project is located in Kabinburi Industrial Zone, in Prachinburi province. Franck Constant, President of Constant Energy commented: “We are very pleased and honoured to establish a longterm partnership with a premier industrial house such as Aisin Thai Automotive Casting which is an affiliate of Aisin Group, a leading company for manufacturing components worldwide for automotive.

We look forward to supporting a combined reduction in CO2 emission and electricity cost through this solar power plant.”

| ASEAN | FEB-MARCH ISSUE 2021

BCPG PLACES CONFIDENCE IN PP INVESTORS ON THE SUBSCRIPTION FOR NEW ORDINARY SHARES, GAINING PROCEEDS OF THB 4502.25 MILLION Bundit Sapianchai, BCPG President, disclosed that the Company had allocated 391.5 million newly issued ordinary shares at the offering price of THB 11.50 per share to Private Placement investors – 195.75 million shares to Pilgrim Partners Asia (Pte.) Ltd., (5.93% of paid-up capital), and 195.75 million shares to Capital Asia Investments Pte. Ltd. (5.93% of paid-up capital) – where the two financial institutions have already paid the capital with the total value of THB 4,502.25 million. Moreover, both financial institutions are allocated 178.6 million units of warrants to subscribe for BCPG-W3, which will last for 1 year, at the ratio of 2.1924 new shares to 1 unit of warrant (with exercise ratio of 1 unit of warrant to 1 new ordinary share at the exercise price of THB 8.00 each). The total value from the exercise of rights is THB 1,428.80 million. The average offering price of the newly issued ordinary shares in combination with the warrants is THB 10.40 per share, which is less than 90 percent of market price.

Therefore, the investors who are allocated the shares shall be required to comply with the Silent Period rules announced by Stock Exchange of Thailand (SET).

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SINGAPORE SEMBCORP AND SP GROUP TO JOINTLY DEVELOP ENVIRONMENTAL SUSTAINABILITY PLATFORM Leading energy companies Sembcorp Industries (Sembcorp) and SP Group (SP) are collaborating to develop an Environmental Sustainability Platform, a one-stop global solution to help corporates and consumers achieve their sustainability goals. The launch of the platform is planned for the first quarter of 2021. The platform aims to include a marketplace that trades renewable energy certificates (RECs) and carbon credits as well as provide carbon consulting services. The Environmental Sustainability Platform will tap on the expertise of both parties to provide consultancy services that encompass physical and digital solutions across energy, water and waste management – enabling corporates to achieve their GHG reduction targets.

CLOSE TO 30 MINISTERS AND INDUSTRY LEADERS DISCUSS SOLUTIONS TO ACCELERATE RENEWABLES INTEGRATION AND POWER SYSTEM RESILIENCE Singapore and the International Energy Agency co-hosted the second Global Ministerial Conference on System Integration of Renewables (SIR). The Conference was held as part of the Singapore International Energy Week (SIEW) 2020. Under the theme “Investment, Integration, and Resilience: A Secure, Clean Energy Future,” the SIR Ministerial Conference brought together close to 30 Energy Ministers, global CEOs and thought leaders to discuss emerging issues in the acceleration of renewables integration and power system resilience with a strong focus on Asia and Southeast Asia. The IEA also launched its new report which provides important recommendations on modernising power grids for greater reliability and flexibility.

SINGAPORE’S CAPITALAND, SP GROUP, SEMBCORP TO STUDY USE OF INTEGRATED ENERGY FOR GREEN DATA CENTERS CapitaLand, SP Group (SP) and Sembcorp Industries (Sembcorp) have signed a Memorandum of Understanding (MOU) to jointly study the use of integrated energy solutions to power data centres. The integrated energy solutions will potentially include a combination of solar photovoltaic, green hydrogen and energy storage amongst others. The study covered under the MOU will initially focus on developing solutions to power CapitaLand’s flagship data centre, 9 Tai Seng Drive with green energy. This collaboration between CapitaLand, SP and Sembcorp is the first under SP’s Energy Partnership Programme. The programme aims to help corporates meet their green ambitions and overcome energy-related business challenges using integrated energy solutions. CapitaLand’s joint study with SP and Sembcorp is another of its efforts to strengthen the use of renewable energy and reduce its carbon footprint. In collaboration with Sembcorp, over 21,000 solar panels were installed atop CapitaLand’s six industrial properties held under Ascendas Real Estate Investment Trust (Ascendas Reit) in Singapore in 2019.

| ASEAN | FEB-MARCH ISSUE 2021

NTU SINGAPORE SCIENTISTS DEVELOP ENERGY-SAVING ‘LIQUID WINDOW’ Scientists at the Nanyang Technological University, Singapore (NTU Singapore) have developed a liquid window panel that can simultaneously block the sun to regulate solar transmission, while trapping thermal heat that can be released through the day and night, helping to reduce energy consumption in buildings.

The NTU researchers developed their ‘smart window’ by placing hydrogel-based liquid within glass panels and found that it can reduce up to 45 percent heating, ventilation, and air-conditioning of energy consumption in buildings in simulations, compared to traditional glass windows. The ‘smart window’ is the first reported instance in a scientific journal of energy-saving smart windows made using liquid, and supports the NTU Smart Campus vision which aims to develop technologically advanced solutions for a sustainable future.

The NTU research team believes that their innovation is best suited for use in office buildings

IEA AND SINGAPORE CO-HOST SECOND GLOBAL MINISTERIAL CONFERENCE ON SYSTEM INTEGRATION OF RENEWABLES The IEA and Singapore co-hosted the Second Global Ministerial Conference on System Integration of Renewables (SIR Ministerial) on 27 October 2020, alongside Singapore International Energy Week (SIEW). Topics included accelerating investment in renewable energy technology and infrastructure, and pathways to develop resilient and flexible power systems.

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PHILIPPINES IEEFA: PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE The Department of Energy’s call for a moratorium on greenfield coal power plants marks a clear break with past policies and comes as the Philippines prioritizes the need for more resilient, flexible and lower cost alternatives to fossil fuel baseload power, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The author notes imported coal plants, the mainstay of the Philippines energy system to-date, are unable to operate below a minimum stable value due to their inherent inflexibility. As a result, they are forced to shut off.It' s now up to the Energy Regulatory Commission (ERC) to take additional steps to reinforce the Department of Energy’s new policy direction. The Department of Energy in partnership with the National Renewable Energy Board should immediately update the National Renewable Energy Program (NREP) to reflect the policy shift from centralized base load plants to distributed generation and the preference for indigenous and renewable energy.

AYALA GROUP TO BOOST RENEWABLE PORTFOLIO TO 2,500 MW BY 2021 The Ayala Group plans to scale up its renewable energy portfolio to 2,500 megawatts next year as it positions AC Energy Philippines Inc. to become the largest listed renewables platform in Southeast Asia.

ACEN now has 1,000 MW of capacity in the Philippines but only half is renewable energy. AC Energy International owns 900 MW of capacity, which is purely renewables. The plan is to infuse the international platform, AC Energy International into ACEN next year.

CAMBODIA TOTAL SOLAR DG TO BUILD ONE OF SOUTHEAST ASIA’S LARGEST RENEWABLE ENERGY MICROGRIDS IN CAMBODIA Total Solar Distributed Generation (DG), in partnership with Canopy Power, is developing and constructing a solar and battery energy storage hybrid microgrid to deliver clean energy and power to remote island Koh Rong Sanloem in Sihanoukville, Cambodia.

Construction has started, and the project is expected to be completed in April 2021.The project will consist of a 1.25MWp ground-mounted Solar PV plant and a 2MWh battery energy storage system integrated with diesel generators and a smart controller, making it one of Southeast Asia’s largest off-grid renewable energy microgrids. Electricity will be distributed across two of the main bays of the island via a new Medium Voltage distribution system. The microgrid is designed to deliver electricity to the island with a renewable energy contribution of more than 50 per cent.

| ASEAN | FEB-MARCH ISSUE 2021

TOTAL EREN ENTERS PHILIPPINES RENEWABLE ENERGY MARKET THROUGH TWO SOLAR PROJECTS WITH MABALACAT SOLAR PHILIPPINES AND SINDICATUM RENEWABLE ENERGY Total Eren, a leading renewable Independent Power Producer (“IPP”) based in Paris, is pleased to announce its first steps in the Philippines in partnership with Mabalacat Solar Philippines Inc., a renewable energy corporation based in Manila, and Singapore based Sindicatum Renewable Energy, to build a total of 135 MWp of utilityscale solar power plants in Luzon.

The two solar photovoltaic projects, named “Tarlac” (60 MWp) and “Zambales” (75 MWp), are located respectively in the Tarlac and Zambales Provinces, in Luzon, in northern Philippines, and both hold a 20-year private Power Supply Agreement. Tarlac has already entered the construction phase, while Zambales’ construction is expected to start in Q2 2021. The solar farms are expected to reach commercial operation respectively in Q1 and Q4 2021. Once completed, they will produce together over 180 GWh per year, enough to meet the needs of about 258,000 people in the Philippines.

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INCONVERSATION

NIRANPAL SINGH General Manager APAC, BayWa r.e. Energy Solutions Sdn Bhd. The appetite from companies across South East Asia for renewable energy is growing – but not always in line with a true understanding of how embracing renewables can form part of a successful, long-term business strategy. General Manager for BayWa r.e. Energy Solutions Sdn Bhd, Niranpal Singh explores what’s happening – and looks at what might be done to make the most of the undoubted opportunities…

Do companies understand what a renewable journey might involve?

It’s clear from our experience of working in the Asia Pacific region that the demand for renewables is going to grow, particularly from countries which find themselves at a tipping point; one where they are becoming largely or wholly reliant on energy imports.

This political driver often triggers a change in approach, with the introduction of regulatory policies and incentives to encourage home-grown generation, - usually solar in SEA. Thailand is a good example of such a switch.

But it’s also clear that many companies need help to understand what’s involved, and what the benefits are to adding renewable energy to a corporate strategy. This is entirely understandably given that for most, the world of green energy is new to them. As a result, they often need help to grasp the detail, and to understand all the elements that must be factored in.

"We believe our approach of combining longterm strategic thinking with regional and local understanding of the market is hugely valuable" Is there a ‘one size fits all’ solution?

As a global renewables company, we know from hard-earned experience that what works for one company or country won’t necessarily work for another – one size does definitely not fit all.

Not only are government regimes different, but the policies, approaches and priorities also differ. Each country has its own energy transition roadmap, with different targets and timescales.

And individual corporates have their own goals in mind, with different elements and timescales.

Any corporate wishing to establish a footprint in an SEA country needs to carefully consider the wider context and, again, take a strategic long-term view about what involvement it should have, and how this should be rolled out.

Take Adidas, the global sports apparel company. By working with an independent advisory firm, act renewable, who has been mapping

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its end-to-end supply chain to identify the carbon footprint at each stage. With 80% of its emissions coming from its manufacturing operations, it makes perfect business and environmental sense for the organization to look closely at what can be achieved as a whole, country by country.

In Malaysia, the picture is different.

The government has a target of generating 20% of its energy needs from renewables by 2025 – a pretty ambitious goal given that at the end of 2019, the figure was just 2%.

It wants to reach its goals through a mix of solutions, including net energy metering (NEM), feed-in tariffs (FITs), large-scale solar and self-generation/consumption. For these routes to be successful, there needs to be consistent, on-going government support, alongside public-private partnerships and private financing. Companies will also need to understand both the political and commercial landscape, and map these across to their individual organizational ambitions.

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What are the common hurdles corporates face when it comes to adopting a renewable energy strategy?

Can you offer an example of how one country in the region is dealing with all these considerations?

It’s great that increasingly, companies are keen to embrace renewables. But there are challenges, and these differ across the SEA region.

Let’s take Vietnam as a case study.

At the end of 2020, there was something of a scramble as companies rushed to take advantage of the country’s Feedin-tariff (FiT) policy coupled with an attractive generation price. The pilot program for a direct power purchase agreements (DPPAs) is long awaited and the program is expected to follow in Q2’2021.

There’s everything from grid capacity to consider – something that’s often an issue, but with the right planning and forethought can be overcome - to the nuts and bolts of how to safely build, commission and maintain any installations.

Corporate brands may not be the developers of such capacity, but for any partnership to be successful and sustainable in the longer term, it’s important that all such issues are not only understood at the outset, but also addressed.

What are the benefits for companies that might be embarking on designing and implementing a renewable energy strategy?

For many multinationals, there is pressure from ‘the top’ to change as they seek to meet their organisational carbon reduction and renewable generation targets, and find ways of achieving this across their global operations.

Stakeholders, customers and investors through to governments and pressure groups, are all part of the mix of drivers, too, as the appreciation of the impact of climate change grows. Therefore, setting out and delivering a renewable energy strategy plays to these concerns, and delivers brand enhancement and reputational benefits.

But a well-thought out and implemented strategy will offer much more than this, providing not only pricing certainty but also supply security: important considerations for any business.

This was good news for the expansion of renewable generation capacity in a country where energy demand is outstripping economic growth.

However, I suspect that the rush was driven more by fear of missing out (FOMO) rather than by any long-term strategy on the part of either corporate organisations or developers.

company or companies will then appear, wanting to buy into the capacity. The model has not advanced such as those in the Pan European market.

We’ ve been talking to companies about the opportunities and educating them about the different aspects of renewable energy, as well as examining what a short-term programme might look like compared with a longer-term strategy. The key here is that corporates wanting to invest can benefit from considering the renewables market from a more strategic position.

Ultimately, we believe our approach of combining long-term strategic thinking with regional and local understanding of the market is hugely valuable, particularly for international brands with operations in multiple countries where an individual approach is needed to deliver corporate goals.

Of course, there are other drivers at work here. The government is keen to reduce its reliance on energy imports. In 2014, Vietnam’s installed renewable capacity was less than one-third of one per cent. By the end of 2019, it was 10% of the total – evidence of ambition.

It’s great to see the increase in uptake of renewables in Vietnam, even if some of it is driven from FOMO! We’d now like to see these companies fully understand and appreciate all the advantages of incorporating renewables into their long-term strategy.

Vietnam’s pilot project aims to support at-scale build-out of new renewables generation capacity and open the market for foreign investment. It resembles a virtual power purchase agreement (PPA).

A set purchase price is agreed, and the potential off-taker and developer submit an application to the government, which then decides if the match is acceptable.

There’s no building a solar project on “shelf”, and then hoping that a

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PG 12

INCONVERSATION

PHUONG ANH NGUYEN Chief Executive Officer, Tona Syntegra Solar

In an exclusive chat with Solarquarter Asean magazine, Ms. Phuong Anh Nguyen, Chief Executive Officer, Tona Syntegra Solar spoke about how Vietnam has been an important player in the solar game in the region. She also spoke about the technology adopted and the latest rooftop work done by the company. We also got insights on the future outlook of PV Solar in Vietnam.

Vietnam is one of the promising solar destinations in South East Asia. What have been the contributing factors for the same?

Yes, Year 2020 set a critical path for the Solar PV industry in Vietnam when the country became a PV Solar leader of South East Asia after having achieved the installed capacity of 19.400 MWp by 2020 end. This target was actually planned to record by post 2025 in the National Master Power Plan VII. Among many critical facets in terms of timing, demanding, or supplying for the Solar PV development recently, the following factors should be commended as most influential to Vietnam PV speedy growth, namely: the abundant supply of irradiation, with the daily average DNI (direct normal irradiance) of 4-5 kWh/m2 across the country; the substantially increasing energy demand with the average additional 6,000 MW to 7,000 MW annually until 2030; the lowest

"With a focus on rooftop solar (RTS) for C&I consumers, I and my Team at Tona Syntegra Solar had wonderful opportunities to implement beautifully complex and quality RTS systems from medium-to-large scale" average LCOE of Solar PV for Vietnam to pursue Low-carbon pathway aspiration; and ultimately, the incentive policy and regulations namely FIT1 effective in March 2019 and FIT2 issued on April 2020, whereby the 20year PPA with EVN is at USD $0.0935 per kWh and USD $0.0838 per kWh, respectively. Additionally, the effective corporate PPAs in FIT2 between investors and C&I consumers has prominently accelerated the RTS Solar boom reaching roughly 9,700 MWp installed by 2020 end and marking the growth rate of 2,400% from 378 MWp installed in 2019.

Could you please tell us about the recent rooftop solar project works that you undertook in the country?

With a focus on rooftop solar (RTS) for C&I consumers, I and my Team at Tona Syntegra Solar had wonderful opportunities to implement beautifully complex and quality RTS systems from medium-to-large scale (i.e. below 1 MWp to 7 MWp systems) as the turn-key EPC across Vietnam. Most of them are large net-metering systems for C&I sectors with intensively high load consumption profiles, eminently demanding for safety, reliability and stability of electricity generated from Solar PV systems while strictly complying with EVN regulations of not exceeding 1.2 MWp per system and grid’s capacity during low load periods; concurrently without curtailing the output of RTS systems. Well, it has been an amazing path and motivation for us to accelerate the application of advanced technologies for our RTS projects.

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PG 13

Solar technology is constantly evolving with time. What have been some technology advancements made by your company recently?

As the EPC, our strategic focus has been the integration of the existing advanced technology to design and build smart RTS systems with high safety, efficiency, and flexibility for future customization in the longterm. One of the typical projects we built last year has been – perhaps – among the Asia’s largest rapidshutdown RTS systems; which allows promptly ceasing high voltage current at the module level to ensure the highest fire prevention and protection; maximizing the Solar electricity for fully supplying factory’s power demand during even Grid-off, whilst avoiding EVN curtailing the system output during low-load hours on holidays. Besides, we are also widely accelerating the application of ESS, the digitalization platforms for all of our Solar PV assets to achieve real-time monitoring and optimization for the systems ondemand.

How is the future outlook of PV Solar in Vietnam?

With the increasing energy demand and low-carbon pathway set, the future of PV Solar remains bright in Vietnam. Against this backdrop, a much stricter regulatory framework for the PV industry with all terms and conditions regarding technical standards and compliance will be rapidly effective, requiring all of the PV industry stakeholders to learn, share and comply. Furthermore, with current exceeding target installed capacity by 2020 end, I think a more programmed scenario with annually allocated capacity according to actual regional and/or business sectoral demand will be discussed to ensure the matching between Solar PV output and the infrastructure capacity for achieving the maximum system utilization once installed. Under any circumstances, the long-term safety and reliability of the solar PV system would not be traded-off, I believe.

What are parameters considered while selecting project sites and what are the safety and quality measures you adhere to at your project sites?

Well, as shared above, we always prioritize for a long-term safe, reliable and efficient PV Solar System. Hence, we would consult and take project sites whereas the safety, quality and reliability of the structure, system design & component choices, construction, and O&M are respected. Of course, the costeffective matter in relation to a system's ROI is always the top priority, and so far, we –together with our clients– have ultimately found convincing solutions, both technically and financially, to address the above parameters for the systems.

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INCONVERSATION

EDDIE TAN, Vice President, Energy Transition and Integrated Solutions, Sembcorp Industries

Solarquarter Asean magazine interviewed Mr Tan who is the Vice President, Energy Transition and Integrated Solutions, Sembcorp Industries. He spoke about how the RE sector has grown in the last decade. He also threw light on energy storage & transition topics along with the technologies and trends that Sembcorp has embarked on for the solar sector in Singapore.

We understand you are responsible for developing the portfolio of offerings under Sembcorp’s suite of sustainable solutions. Tell us more about your role?

At Sembcorp, sustainability is our business. In all that we do, we are driven by a purpose to do good and play our part in creating a sustainable future. I’m responsible for developing and growing the portfolio of offerings under Sembcorp’s suite of sustainable solutions in Singapore and Southeast Asia – these include integrated energy, water, waste and digital solutions that help customers meet their environmental sustainability targets. One such example is our recent partnership with CapitaLand and SP Group to study the use of integrated energy solutions to decarbonise data centres.

Sembcorp will bring its expertise in providing customised combinations of solar energy, energy storage, sustainable energy retail and other innovative energy solutions for this project.

"At Sembcorp, sustainability is our business. In all that we do, we are driven by a purpose to do good and play our part in creating a sustainable future."

How has the renewable energy market changed in the last decade? How has this impacted Sembcorp in Singapore?

Renewable energy capacity across the world has increased tremendously over the past decade, with solar leading the way. As an international power producer and energy player, we also recognise the opportunity to support economies in which we operate as they transition towards low-carbon energy systems – this includes countries like Singapore.

Developing these solar energy solutions is one way of how we are growing our renewable energy portfolio here. We started out with just under four megawatt-peak of rooftop solar capacity and grown our portfolio to about 300MWp todate, exploring different technologies including floating solar systems and solar land

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projects in Singapore, all within a short span of time. We are also witnessing more companies wanting to minimise or eradicate their carbon footprint and we are committed to meeting the growing need for such green energy.

Can you tell us more about energy storage systems and the feasibility for its deployment in Singapore?

Intermittency is still one of the major criticisms of solar power, but one possible way to counter this and enhance overall stability and resilience of the grid lies in energy storage solutions. Energy storage is a critically important technology that is gaining momentum globally and I believe will be a game changer especially in the clean energy space for Singapore.

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Sembcorp has collaborated with the Energy Market Authority as part of a pilot programme to facilitate the deployment of energy storage systems in the country. We have invested in such systems overseas in the UK and are now looking to apply the technology at home in Singapore, where we are only of the largest solar power players. Energy storage solutions can also work synergistically with Sembcorp’s other power generation assets including conventional gas-fired generation to create more value too.

What are some of the technologies and trends that Sembcorp has embarked on for the solar sector in Singapore?

The energy transition has significant implications for the workforce. As a major solar player in Singapore, can you highlight what is Sembcorp doing to address this issue?

What are your thoughts on Singapore’s latest solar target of atleast 2 gigawatt-peak (GWp) by 2030?

A pressing need for the solar industry in Singapore is in training and manpower development. As a major solar player, we believe there’s a role we can play to upskill talent and strengthen the solar energy workforce here. We have collaborated with various Institutes of Higher Learning to jointly develop course curriculum, provide internships as well as continuing education programmes for managers, engineers and technicians working on solar projects. For example, Sembcorp has partnered with the Institute of Technical Education to create a Centre for Sustainable Solutions, featuring solar photovoltaic modules and inverters for student training purposes.

Innovative and practical technologies are no doubt key differentiators for our business. But we are also committed to playing our part in enabling a low-carbon and circular economy. We are working together with Singapore Polytechnic to address the global challenge of photovoltaic waste and commercialise Singapore’s first-ever technology for recycling end-of-life solar panels. In scaling up our solar portfolio, we take a cradle-to-grave approach – not just caring about procurement, design and installation and operation, but even seeing our projects through to the end of their operational lives and beyond. We believe this focus on responsible resource management is especially timely and key.

In Singapore, solar energy is the most viable renewable energy resource and there is still a lot of room for its expansion locally. As part of the most recent launch of The Singapore Green Plan 2030, the call for use of cleaner energy and to increase energy efficiency to lower carbon footprint reiterates the country’s push towards the adoption of solar energy. I believe the new target is achievable as there are still many more buildings that we can build solar energy systems on. In addition, Singapore vertical space can also be leveraged to grow solar power and if such technology proves fruitful, we can definitely achieve even more.

To support the upskilling of the solar industry workforce in Singapore, Sembcorp also conducts ongoing safety trainings and briefings to build the safety awareness and capabilities of our contractors. We take a proactive approach to risk identification when it comes to our solar operations. We have developed customised programmes to verify and monitor the implementation of our contractors’ safety management system to promote health and safety at the workplace.

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PG 16

INCONVERSATION

KO CHUAN ZHEN CEO & Co-Founder Plus Solar Systems Malaysia In an exclusive chat with SolarQuarter ASEAN magazine, Mr. Ko Chuan Zhen, CEO & CoFounder of Plus Solar Systems, Malaysia tells us about the main learnings from 2020. He spoke about the company’s solar projects, installed capacity and investment plans. He also threw light on the recent technology and cost trends in the Malaysian solar market and future outlook of rooftop solar in Malaysia.

As a clean energy solutionist, how has the year 2020 been for you overall? Any key learnings?

Response: 2020 has taught us that not all businesses are pandemicproof. COVID-19 was certainly a stress test for many businesses. As such, we engaged with our clients and found that energy was identified to be one of the top OPEX, along with raw material, rent and payroll.

Organizational Agility to Address Business Pain Points Zero CAPEX Solution: Response: Cash Flow remains tight for businesses and cost is still a concern when it comes to the investment of solar energy. In order to help business owners, minimise their financial concerns and overall OPEX reduction, Plus Solar came up with agile solutions such as the Power Purchase Agreement (PPA) financing option, where consumers pay nothing upfront and buy electricity at a lower rate from investors, were attractive propositions that helped us achieve some of our goals.

"As a business, we plan on expanding our presence in Southeast Asia which we believe will be a focus for investors in the future."

Smart Energy Management The pandemic encouraged us to look into how we can operate within the increasingly competitive clean energy landscape with this ongoing uncertainty.

As a clean energy solutions provider which began with an investment of MYR100,000 (US$24,000) in 2012, it was with much toil, sweat and tears that we moved up to MYR150 million (US$36 million) revenue in just eight years.

With over 160 people strong, FYE 2020 was a big year for us as we recorded a 200 per cent jump in revenue but the pandemic came forcefully and created uncertainty within the ecosystem. This made us realise the need to go beyond traditional solar to survive.

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In one of our key pivots which was accelerated by COVID-19, to meet the needs of the business owners, we branched out and went beyond solar by creating a smart energy performance management system (EPMS) called SOURCE. Through the use of AIoT (AI and IoT), business owners are able to connect all their energy and operations data in one single platform, turning insights into savings and business intelligence.

This EPMS is akin to a Fitbit, which helps business owners save energy where our clients have managed to gain up to 25% of their energy savings by leveraging this system, and either save on bottom lines or channel their funds to more urgent areas of their businesses.

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Riding on the Opportunities Within the Solar Industry With the Net Energy Metering (NEM) 3.0 set in place by the govt., there is potential for the solar industry to grow in a more organic way. This scheme will provide opportunities for users to install clean energy on their building rooftop to further cut down their energy bills.

Moreover, with the current govt. subsidies in place, business owners who have implemented solar are able to become eligible for up to 48% of tax allowances and reduce their CAPEX. We encourage business leaders to take hold of these attractive schemes which have come a long way since the introduction of the Feed-in-Tariff (FiT) in 2011.

Please tell us about the current installed capacity of the company and what are the investment plans for the year 2021?

To date, we have completed over 200MWp in solar photovoltaic (PV) system installation services all over Malaysia. Our clients include but are not limited to IKEA, Petronas, Sunway, Secret Recipe and PKT Logistics. On top of that, Plus Solar is the first solar company in Malaysia that provides AIoT solutions that enable business owners to source smart energy savings at the touch of their fingertips.

As for investment plans, we have also set a clear regional growth agenda for our company as we seek to expand our presence in SEA. We already have plans for Vietnam and have put things in motion. Although this has been affected by the pandemic, we have partners in Vietnam who are making headway despite the situation.

Tell us a bit about the recent technology and cost trends in the Malaysian solar market.

Solar i s Now the Cheapest Form of Power Globally, solar has become the cheapest form of power due to new tech accordi ng to analysts Wood

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Mackenzie, in addition to the higher awareness and adoption of solar within Malaysians. This was made possible through the government subsidies, technological advancement of solar panels and the mutual effort of policymakers, media outlets, financial institutions and renewable energy industry players. Not only does this showcase the potential and opportunities for solar to grow but how it will become a sustainable resource and economic driver for nations to rely on.

DIGITALISATION OF ENERGY DATA

Digitalisation of energy will also be Plus Solar’s concentration with our AIoT (artificial intelligence internet of things) called SOURCE, which empowers the business owner to turn their building energy data into smart energy savings.

Industries that can benefit from this system include the sector we cater solutions for, which is the commercial and industrial (C&I) sector. This is because heating, ventilation and air conditioning (HVAC) consume about 40% of the global energy use. Through the use of smart energy management, wastage of energy can be identified, while improving overall energy efficiency and maximising energy savings.

Please brief our readers about the major utility scale projects that Plus Solar have undertaken in Malaysia.

The government has recognised solar generation as a key contributor towards achieving national RE mix by 2025. Industry experts have singled out the 1GW solar development tender by the Energy Commission, expecting it to unlock RM4 Billion in investment and create an estimated 12,000 new jobs.

Large scale solar (LSS), or solar farms, has been a focus area for Plus Solar as we have outfitted notable projects during the second cycle of LSS such as Leader Solar Energy II (LSEII) with a system capacity of 27.469MWp, Jentayu Solar with a system capacity of 8.976MWp and more. These initiatives focused on opportunities for local players will stimulate the country's RE industry in the midst of the pandemic.

What is your outlook on the future development of rooftop scale solar especially in the C&I section in Malaysia in the next 5 years?

While the pandemic has indeed proven challenging, with the earliest potential recovery only in H2 2021, we are confident of prospects this 2021 as well as to contribute towards the newly revised RE target of 31% in 2025 and 40% in 2035. The NEM 3.0 programme provides an opportunity for more users to install the solar photovoltaic (PV) systems on the roof of their respective buildings or homes for electricity bill reduction. Moreover, in the next 5 years, we see that the demand for rooftop solar will grow and the industries require less Govt. subsidies to advance into the future.

With the attractive govt. subsidies and NEM 3.0 in place, it is our hope that people will begin to realise that solar energy is no longer a luxury but an affordable essential. We believe this is possible.

As a business, we plan on expanding our presence in Southeast Asia which we believe will be a focus for investors in the future. We will also continue to expand our businesses overseas in countries such as Vietnam following the government support for solar energy.

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INCONVERSATION

NIKESH SINHA Director & CEO, 8.28 Energy

In an exclusive conversation with Solar Quarter Asean magazine, Mr. Nikesh Sinha, Director & CEO, 8.28 Energy talks about his company’s offerings in the region. He also spoke about the challenges faced, learnings from the year 2020 and the company’s latest technological advancements.

Please tell our readers in brief about the solutions offered by 8.28 Energy in the Asean Market.

8.28 Energy is engaged in developing, financing and constructing solar plants across the Asean region. We are looking at s t o r a g e s o l u t i o n s t h a t s i t w e l l w i th solar plants to mitigate issues related to either a second peak during the evening or smoothening the load curve.

"8.28 Energy is engaged in developing, financing and constructing solar plants across the Asean region."

How has the year 2020 been for you especially as this has been the pandemic year? Any key learnings?

The pandemic has been a huge learning experience both as a company and personally. Obviously, business fell through the floor as no one was in any position to either travel or to construct any plant of size. This also led to a dependence upon video calls which has been at one level deeply evolutionary. The earlier experience was that people were flying from point A to point B purely for a face to face meeting which could have been done on the phone too. Zoom, Microsoft Teams, Google Meet have all suddenly changed the way we look at travel.

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As a developer, what are the key challenges you face in the Philippines Solar market?

The Philippines solar market is still going through evolution in terms of government regulations r e l a t i n g t o t h e a u ct i o n p r o c e s s .

This needs to settle down and become acceptable to all before the market at large. The exact mechanism is still not clear. The other issue is of course foreign ownership % although we have seen that in geothermal projects the government has allowed a 100% foreign ownership for investment size of over 50 million dollars. Maybe this is a precursor to better management of the ownership structure in solar energy too.

The pandemic has been a huge learning experience both as a company and personally.

Obviously, business fell through the floor as no one was in any position to either travel or to construct any plant of size. This also led to a dependence upon video calls which has been at one level deeply evolutionary."

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What is your holistic view on the market dynamics of constructing and operating large solar power plants in Asean region?

There is no single ticket understanding of market dynamics in solar energy for the ASEAN region. Each country has its own rules and regulations and the perceived risks and returns are different. Typically, countries like Thailand, Malaysia, Vietnam are reaching maturity in EPC pricing. The Philippines and Indonesia are still laggards in the region but both have tremendous potential and can easily outstrip other countries once the regulatory environment becomes easy to do business in.

Please highlight the recent technological advancements that your company has made in the field of construction, O&M and Asset Management.

There are multiple areas of improvement.

Storage solutions as I said earlier is a major focus. Similarly, we are looking very strongly at O & M being a key proposition for improvement of IRR. We are examining different kinds of modules and figuring out the right combination of trackers for different countries. This is a work in progress and I am afraid it ill remain like this because technology is changing rapidly and we cannot be wedded to one kind or one type.

Currently, what is the situation of financing of the solar projects in the region?

There is no single ticket understanding of market dynamics in solar energy for the ASEAN region.

Each country has its own rules and regulations and the perceived risks and returns are different.

This year, the financing process is beginning to pick up after the covid period. Let us hope for the best this year.

What in your view is the growth outlook for the Asean solar sector for the next 5 years?

This is a tough question to answer. If I had to choose three countries to back in the short run I would go with Thailand, Vietnam and the Philippines. In the long run, these two plus Indonesia and Malaysia.

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INSIGHTS

ASEAN QUICKLY TURNING TO RENEWABLE ENERGY HUB Technological innovations and favourable government policies are among the four trends expected to drive Southeast Asia’s transition to renewable energy in the coming years.

A report published by global auditing firm KPMG titled ‘The Renewable Energy Transition’ noted that while there are still 70 million ASEAN citizens without access to reliable electricity, the potential for renewable energy is huge in those markets and governments are increasingly turning to solar and wind energy to address the issue.

Consumers driving the green agenda forward and the entry of new funds into the ASEAN renewable energy market are two other trends identified in the report.

Each of ASEAN’s 10 members have set targets for renewable energy, and technological innovations, such as better solar power efficiency and floating solar panels, mean that renewable energy is now more accessible than ever before.

The establishment of RE100 in 2014 – a collaborative, global initiative uniting more than 100 influential businesses committed to 100 percent renewable energy – is a prime example of how consumers are helping to boost demand for renewable energy, especially since commerce and industry use up two thirds of | ASEAN | FEB-MARCH ISSUE 2021

“Solar, wind, runof-river hydro, geothermal, biogas, and storage are competitive, viable domestic options that can be combined to create a cheaper, more diverse and secure energy system,” PG 21

the world’s electricity. Among the companies in the group include Google, Microsoft, Coca Cola and IKEA – all of which have a strong presence in ASEAN. The World Bank, Asian Development Bank (ADB) and Japan Bank for International Cooperation are leading the way in renewable energy investment in the region, which has helped to bring prices down. While prices have often been a key concern, falling costs and rising demand are now helping to push the industry forward.

The Institute for Energy Economics and Financial Analysis (IEEFA) released a report in August 2018 which showed that the Philippines – where an estimated 20 million people lack constant electricity supply and 12 million have none at all – can reduce its electricity costs to just 2.50 Philippine pesos (US$0.05) per kilowatthour (kWh) by installing rooftop solar. By comparison, diesel costs 15 Philippine pesos (US$0.28) per kWh and coal costs 3.8 Philippine pesos (US$0.07) per kWh. “Solar, wind, run-of-river hydro, geothermal, biogas, and storage are competitive, viable domestic options that can be combined to create a cheaper, more diverse and secure energy system,” said Sara Jane Ahmed, an IEEFA energy finance analyst and the author of the report.

With its huge potential in renewable energy, ASEAN can be the new hub for renewable energy deployment, innovation and investments.

Source: IEEFA

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THE SOLAR PROJECT ENGINEERS SHARE THEIR

SUCCESS MANTRA The Achievements of Solar Leaders Gets Recognized At Solar Project Engineering Week ASEAN 2021 Awards Ceremony TOP HONORS WERE AWARDED TO ENTREPRENEURS, INNOVATIONS, TECHNOLOGIES AND CORPORATES FOR THEIR ACHIEVEMENTS IN THE ASEAN SOLAR INDUSTRY The Solar Project Engineering Week ASEAN 2021 Awards are powered by SolarQuarter. Acknowledging the fact that project engineering is the most crucial phase in the development of any Solar Project, the awards were celebrated to recognize the achievements of these exceptional individuals, projects, technologies, innovations and services which have made their mark in the ASEAN Solar Industry.

The Solar Project Engineering Week ASEAN 2021 Awards was celebrated with much zeal and enthusiasm. The winners were announced at the virtual gala award ceremony on 24th February, 5 pm (SGT).

Shining a spotlight on the best engineering, projects, technologies and innovations in the ASEAN Solar Industry over the past year, the accolades and awards were presented to some of the great achievers which have made an outstanding contribution to the advancement of the Solar Energy Sector.

The Proud Winners of the 'Solar Project Engineering Week ASEAN 2021 Awards' are:

ENGINEER’S CHOICE & TECHNOLOGY INNOVATION AWARDS: Solar Project Engineering Consultant Of the Year SgurrEnergy SgurrEnergy is Asia’ s largest and purely solar-focused consulting company and is now one of the leading reputed solar engineering consultancy in the world. It offers 360° services over the complete solar project lifecycle, trusted equally by all the stakeholders for our integrity and delivery.

With a massive 33GW consulting experience,the company is proud to have helped governments and organizations to achieve their renewable energy goals across 5 continents and 40-plus countries.

Most Preferred Solar Module Of The Year : Trina Solar The company is a global leading provider for PV modules and smart energy solutions.Trina delivers PV products, applications and services to promote global sustainable development. As of Oct. 2020, Trina Solar has delivered more than 60 GW of solar modules worldwide.

Most Innovative Technology Of The Year -Solar Module : Trina Solar The company’ s multi-busbar technology, with the capability to increase the light absorption, is a perfect match with the large-area cell. It has low-voltage, high string power” design for advanced technology solutions such as non-destructive cutting and high-density cell interconnection, the optimized module design of the Vertex 600W/550W series applying 210mm cell is becoming the new benchmark for high-power modules in large-scale power stations and distributed PV systems.Technology integrations enable the Vertex to achieve higher power and power generation capacity per watt.

GRAND MASTER AWARDS 2020:

Phuong Anh Nguyen, Chief Executive Officer, Tona Syntegra Solar She is an inspiring leader with 11+ years of experience in international business management & entrepreneur. An MBA from University of Applied Science and Arts Hannover – Germany and PhD in Engineering – Energy Policy, UTS – Australia; Phuonghas worked extensively to connect TECHNOLOGY,BUSINESS, & FINANCIAL arrangement in solar investment to create The Highest Value for empowering a sustainable business.

Gan Boon Hean, CEO, Leader Energy Pte Ltd He is a pioneer with 30+ years of experience in the power sector in Asia. He started his career in the Power Transmission division of Malaysian National Utility TNB and was Vice President of ABB Malaysia (Power Division) prior to joining Leader Group in 2009. He has worked towards providing affordable power and to achieve a high level of customer satisfaction.His has been contributing highly to protect and conserve the environment for current and future generations.

Mr. Stefan Duthel, CTO, Symbior Solar He is a leader with more than 18 years of international experience in implementing telecommunication projects in the area of planning, commissioning, project management and sales support. Stefan has been leading Engineering and Design for Commercial & Industrial Solar and Renewable Energy Solutions for South East Asia, South Asia. He is an integral part of the company' s feasibility studies, site investigations,Concept Design,IT development for Solar Scada and Monitoring System,Support technical, financial and legal due diligence as well as have participated in tenders and offer preparations.

Jen Tan, Head of Sustainable Solutions, Sembcorp Singapore & SEA, Sembcorp IndustriesShe is an experienced Solar industry leader with a demonstrated history of working in the renewables industry with good sales acumen. Strong business development skills in Industrial Engineering, Management, Production Planning, Start-ups, Semiconductors and Solar. Jen has been one of the driving forces in helping the company in transforming their portfolio with a focus on growing the renewable energy portfolio. She is also contributing towards the transition of a low-carbon energy future.

SOMBOON LERTSUWANNAROJ, SEVP – Business Development, Impact Electrons Siam Co., Ltd.Somboon is responsible for new business origination and all project development. As one of the founding members in 2011, he leads a young, active business development team and is responsible for company growth strategy. This leader’ s unconventional approach and dynamic business model benefits shareholders and grassroot stakeholders alike. With his present position, he also heads the growth of IES’ Japanese energy business, Impact Solar business and other development pipelines in the same comprehensive capacity.

To know more about the 'Solar Project Engineering Week ASEAN 2021 Awards Ceremony' visit:https://solarquarter.com/studio/

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