Singapore

Following equity injection of about Rs 5169 million, Singapore-based integrated energy player has signed an agreement to invest another Rs 4060 million in Sembcorp Energy India Ltd to gain complete control over it and pursue growth in the India renewable energy business.

The benefits of heterojunction technology are well known. But as the first modules come onto the market from REC Group’s new HJT lines, the competitive landscape is crowded, but not without opportunity.

TES issued a press release announcing the new facilities that is light on detail but claimed the plants would position it as ‘a leader’ in battery recycling. The company also announced an intent to move into the reuse of spent electric vehicle batteries in commercial and residential applications.

Integrated power infrastructure offers an emerging investment opportunity in Asia as the region expands and adapts its energy mix to address sustainability and resilience goals. Narsingh Chaudhary and Mitesh Patel, of engineering, procurement and construction business Black & Veatch, tell pv magazine more.

After Singapore, India is the second largest revenue generator for the integrated energy player. In year 2018, it earned overall revenues of S$11,634 million (Rs 587 billion), of which S$1685 million (Rs 85 billion) came from power business of Sembcorp Energy India Limited.

KKR has also applied to become a co-sponsor of the power infrastructure investment trust and plans to acquire additional 15% stake in it. The deal marks KKR’s first infrastructure investment in Asia.

The floating solar power plant—to be developed by AM International’ Greenam Energy—will be located in Tuticorin plant of Southern Petrochemical Industries Corporation (SPIC). The power generated will be used to meet SPIC’s electricity requirements and the excess will be sold to the state power utilities.

The Malaysian oil and gas group has purchased solar developer Amplus Energy Solutions from infrastructure investor I Squared Capital. No financial terms of the deal have been disclosed.

A flying start to the year saw huge volumes of solar cells and modules imported to India but the scale and value of such products fell over the remainder of 2018 and export figures mirrored that trend.

U.K. developer Lightsource BP – in which oil and gas giant BP has a significant minority stake – and its Singapore fund partner EverSource Capital are reportedly ready to take up all the $100 million slice of Ayana Renewable Power which is being put up for sale.