News and Updates

Vietnam’s Hoa Sen Group has partnered with Singapore’s SP Group to deploy a Cooling-as-a-Service (CaaS) system and 17.6MWp of rooftop solar across two major steel plants. The initiative will cut cooling electricity use by over 30% and reduce emissions by 14,000 tons annually. It supports Vietnam’s 2050 net-zero target through energy efficiency and clean energy adoption.

Keppel and the Asian Infrastructure Investment Bank (AIIB) have partnered to facilitate up to US$1.5 billion in sustainable infrastructure investments across Asia-Pacific by 2030. The five-year collaboration will target green, tech-enabled projects in energy, transport, and urban services, addressing the region’s growing infrastructure needs amid rapid urbanization and digitalization.

The ASEAN Centre for Energy received a $7.7 million World Bank grant to advance the ASEAN Power Grid, aiming for operation by 2045. The funding supports technical studies, project preparation, and ACE’s capacity to coordinate regional power trade under the ASEAN Vision 2020 framework.

Singapore has issued draft guidance on the use of carbon credits to support corporate decarbonization efforts. The guidelines stress using credits only after all viable emissions reductions and outline principles for high-quality credits, including additionality, permanence, and transparency. Companies are encouraged to manage credit risks and disclose usage.

Việt Nam is advancing its energy transition with strong offshore wind potential of 600GW—the highest in Southeast Asia. The updated Power Development Plan (PDP8) prioritizes renewables, energy storage, and green fuels. While challenges remain in grid upgrades and energy security, digitalization and international cooperation offer critical opportunities for sustainable growth.

The Philippines’ Department of Energy has launched its Fifth Green Energy Auction (GEA-5), focusing solely on fixed-bottom offshore wind. With a target of 3,300 MW and delivery scheduled between 2028 and 2030, GEA-5 aims to build a strong foundation for the offshore wind sector using proven, scalable technology.

Malaysia, Singapore, and Vietnam have signed a Joint Development Agreement to explore exporting renewable electricity from Vietnam's offshore wind resources to Malaysia and Singapore via submarine cables, advancing ASEAN's regional energy integration goal.

Singapore's Royal Golden Eagle (RGE) and France's TotalEnergies, through their joint venture Singa Renewables, will develop a phased solar and battery project in Indonesia's Riau Province. The project aims to supply green energy to local industrial complexes and export solar power to Singapore, supporting regional decarbonization and the ASEAN Power Grid vision.