Japan’s Marubeni Acquires Taiwan’s Chenya Energy to Leverage Floating Solar Business
In an important development, Japan’s Marubeni Corporation has executed a share purchase agreement with I Squared Capital to acquire Chenya Energy Company Limited, which is one of the leading solar power developers in Taiwan.
Chenya has one of the largest floating solar power projects, and by acquiring Chenya, Marubeni will gain valuable insights and expertise in floating solar power business. The main focus of Marubeni through this acquisition is to expand its floating solar business in Taiwan as well as other regions.
In April 2019, Malaysia’s state-owned oil and gas company, PETRONAS, acquired Singapore-based Amplus Energy Solutions Pte Ltd (M+), a company backed by I Squared Capital.
Currently, Marubeni’s portfolio exceeds 12.5 GW in net generation capacity across 19 countries, and in Taiwan, Marubeni had also made investments in Ever Power gas-fired combined power project (960 MW) and Hsin Tao gas-fired combined cycle power project of 600 MW capacity.
With this latest acquisition, Marubeni will become one of the largest independent solar power producers in the country.
Why India needs a new energy roadmap:Dharmendra Pradhan
While India has given a solid turn in the energy roadmap towards renewables and re-balancing the energy mix, it would be unfair to expect to wean off fossil fuels completely at this stage of our developmental cycle.
Under the 2nd terms of Mr. Prime Minister Narendra Modi's Govt, India has given a strong turn in the energy road-map towards renewable and re-balancing the energy mix. However, it would be unfair to expect India to wean itself off fossil fuels completely at this stage of our developmental cycle. India’s per capita emissions today of 1.6 tonnes of CO2 is well below the global average of 4.4 tonnes while its share of global total CO2 emissions is about 6.4 per cent. Nonetheless, robust efforts are underway to de-carbonize energy production and use least polluting fossil fuels to complement the shift to renewables.
Current Govt consistently taking policy initiatives, revamping policies and building next generation infrastructure towards making India a gas-based economy — initially, by increasing the share of gas in India’s primary energy mix from the current six per cent to 15 per cent, a goal laid out by Prime Minister Modi. The government lays utmost emphasis on this stated goal-as reiterated in the finance minister’s recent budget speech, which highlighted some facts and figures as we move towards a gas-based economy.
Jakson to set up 70 MW Solar Power plant in Assam with an investment of Rs 300 crores
The agreement signing ceremony was held at the CM Secretariat and presided by the Chief Minister of Assam Sarbananda Sonowal in the presence of other senior government officials and dignitaries
Jakson Group, India's leading diversified energy and EPC Solutions company announced the signing of a Power Purchase Agreement (PPA) with Assam Power Distribution Company Limited (APDCL) for a 70 MW solar power plant at Amguri, Sivasagar District in Assam.
The agreement signing ceremony was held at the CM Secretariat and presided by the Chief Minister of Assam Sarbananda Sonowal in the presence of other senior government officials and dignitaries.
Jakson had won the bid to develop this 70 MW grid-connected solar power plant in the state based on a Request for Proposal (RFP) issued by Assam Power Generation Corporation Ltd (APGCL) last year.
The project will be the biggest solar power plant in Assam and contribute towards achieving India's ambitious solar energy target of 100 GW by 2022."
Atul Gupta, Assistant Vice President - IPP Business, Jakson Group said: "With this project, our solar IPP portfolio now stands at 300 MW, of which 80 MW is operational and 220 MW is under various stage of execution. We plan to scale this to 1 GW in the next 2-3 years."
In addition to the PPA, Jakson also signed a land lease and project implementation support agreement with APDCL for the project.
"With the support of APDCL, we are confident of completing this project on schedule in the next 12-14 months," Gupta added.
Augmenting solar power generation through floating solar plants
Floating solar plants, an innovative and proven technology, is gaining momentum worldwide. It solves the problem of using expensive real estate for solar panel installation while at the same time enabling the efficient tapping of solar energy to generate power.
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March 16th, 2020
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