HONG KONG, Jun 28, 2022 – (ACN Newswire) – On 27 June, Gotion High-Tech held the 5th New Energy Economic Forum and the Opening Ceremony of Gotion Germany at its Gottingen base. It is noted that the Gottingen base, as the first battery production and business operation base of Gotion in Europe, is expected to start the transformation by the end of this year. Chairman Li Zhen said that Gotion perfectly combined China's advanced battery technology with Germany's advanced process engineering, thereby enabling the production of Gotion's battery in Europe . At the ceremony, Gotion High-Tech also released GenDome, its first portable energy storage product for overseas markets and Gendock 3000, its first portable mobile energy storage product at the same time.
Wu Ken, the Ambassador Extraordinary and Plenipotentiary of China to Germany, Stephan Weil, Premier of lower Saxony, Germany, Liu Hui, Member of the Standing Committee of the Anhui Provincial Party Committee and Executive Vice-Governor of Anhui Province, Petra Broistedt, Mayor of Gottingen, Luo Yunfeng, Mayor of Hefei Municipal People's Government, and Li Zhen, Chairman of Gotion High-Tech, participated in and witnessed the ceremony.
Gottingen base with annual production capacity of 6GWh in the first phase is expected to start transformation by the end of this year
It is noted that the Gottingen base covers a site area of approximately 174,000 sq.m., and has an existing gross floor area of approximately 40,000 sq.m.. According to the plan, the project will be constructed in two phases, namely the brownfield plant and the greenfield plant, with an annual production target of 6GWh and 12GWh, respectively. The first phase of the brownfield plant transformation is expected to be officially launched by the end of 2022, and the first production line with an annual capacity of 3.5GWh will be officially put into operation in September 2023. It is expected that the annual production capacity target of 18GWh will be achieved after the brownfield and greenfield plants of the base are fully put into operation.
Dr. Ahmet Toptas, Head of Gottingen Factory of Gotion Germany, introduced that: the Gottingen base will be product-oriented with the ultimate goal of achieving carbon neutrality, as well as will build a local product research and development team in Europe.
Combined with the development and technology orientation of the new energy market in Europe, the base will research and develop new energy battery products that cater to the local European market, and carry out the production of bus batteries, automotive batteries, energy storage batteries, mobile charging and other series of products. In the future, it intends to cover customers in sectors of energy storage, commercial vehicles and passenger vehicles. "With the advanced lithium iron phosphate battery cell technology of Gotion High-Tech, together with experienced German employees, strict quality control and high quality requirements of Europe, we intend to cover customers in sectors of energy storage, commercial vehicles and passenger vehicles in the future, so as to meet the demand of the new energy market in Europe and help Gotion High-Tech accelerate the expansion of overseas markets."
The first portable energy storage product for overseas markets will be manufactured locally in Gottingen
After releasing the semi-solid battery and the first smart mobile energy storage charging pile in May, Gotion High-Tech continuously launched more new battery products. At the opening ceremony, the Gottingen base released GenDome, the first portable energy storage product for overseas markets, and Gendock 3000, the first large-capacity portable mobile energy storage product, which can convert solar energy and wind energy into electricity; it not only helps customers manage the use of household energy and meet the daily needs of household and outdoor users, but also meets 99% of customers' power needs, and effectively reduces energy bills. The household energy storage product includes three different models, which are developed and manufactured by the international business team of Gotion High-Tech. In the future, it will mainly target the European market. In the later stage, the product will be manufactured locally at the Gottingen base.
On the day of the opening ceremony, the 5th New Energy Economic Forum jointly organized by Gotion High-Tech, Committee of 100, Technical University of Braunschweig, Gottingen mbH ("GWG"), Die Chinesische Handelskammer in Deutschland ("CHKD") and the School of Automobile of Tongji University was successfully held at the Gottingen base. The forum focused on topics such as China-Europe economic relations, energy revolution, low-carbon transition and new energy market, and attracted senior executives of many famous enterprises in the new energy industry, university professors, scholars and relevant economic and political officers attended the forum.
Li Zhen, Chairman of Gotion High-Tech said: "With Chinese technology and German process engineering, we achieve the production of Gotion's battery in Europe"
Li Chen, President of International Business of Gotion High-Tech, introduced in the closing speech that Gotion High-Tech is a global company that provides energy solutions for suppliers, customers and other partners at home and abroad. "We not only focus on the development and promotion of new energy battery products, but also strive to develop ToC business at the same time."
According to Li Chen, since May 2022, Gotion high-tech has successively released its first self-developed E-Plus smart mobile energy storage charging pile for ordinary consumers and Gendome portable energy storage product for the overseas market. In 2025, Gotion High-Tech's global production capacity is planned to reach 300GWh, of which overseas production capacity is planned to be 100GWh.
Li Zhen, Chairman of Gotion High-Tech, said in his speech that today we have started the application research and development and product manufacturing of Gotion Battery in Germany and Europe. The Gottingen base of Gotion will gradually transform from the production of automotive parts in previous years to the manufacturing of battery application products, which is a difficult but promising process. In this process, we must protect the existing corporate culture, proactively participate in the development of Gottingen, and accelerate the pace of product transformation. "We will combine China's advanced battery technology with Germany's advanced process engineering to create more excellent products and contribute to society, so as to promote the progress and development of the new energy industry."
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Tag: Alternative Energy
Pertamina’s largest share of 2021 profit from upstream sector
JAKARTA, Jun 23, 2022 – (ACN Newswire) – The upstream sector accounted for the largest share of state-owned oil and gas firm PT Pertamina's (Persero's) net profit as Indonesian crude prices (ICP) soared in 2021.
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"The overall profit earned is a combination of the six sub-holdings and their subsidiaries, but the largest contribution to the net profit comes from the upstream sector due to the windfall from the increase in ICP prices," acting vice president of corporate communications at Pertamina, Heppy Wulansari, said in Jakarta on Tuesday.
Reporting its 2021 fiscal year performance to the government, which is a shareholder in the company, Pertamina said it scored a net profit of Rp29.3 trillion.
The majority of this profit was obtained from the upstream sector's revenue, which increased sharply. Meanwhile, the downstream sector experienced losses due to the increase in crude oil prices and as Pertamina's fuel prices remained below the market price.
This was an advantage for Pertamina, which has an integrated business from upstream to downstream, which allows cross-subsidies. Thus, it could maintain the balance between profits and public service bonds.
Wulansari said that Pertamina's financial performance was positive, with almost doubled profit in the 2021 fiscal year.
This profit was consolidated profit from all Pertamina business lines from upstream, processing, and downstream.
As for the downstream sector, especially fuel and LPG marketing and distribution, at this time, the status is still at a loss due to the high cost of fuel production as the largest component is crude oil.
"However, Pertamina really appreciates the government's full support through the payment of assignment fuel compensation and the addition of energy subsidies in the 2022 State Budget. This is very meaningful to maintain people's purchasing power and encourage economic recovery," Wulansari said.
Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
B20 task force highlights recommendations to support net zero-carbon
JAKARTA, Jun 23, 2022 – (ACN Newswire) – The B20 Energy, Sustainability & Climate Task Force, led by state-owned oil giant Pertamina Group, put forth three recommendations to support realization of the target of net-zero carbon emissions.
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"Climate change sustainability is something that we must strive for in the future. For this reason, the B20 Energy, Sustainability, and Climate Task Force has compiled policy recommendations that focus on three recommendations, with 12 policy actions that call for global cooperation," Deputy Chair of B20 Energy, Sustainability, and Climate Task Force Agung Wicaksono said in a statement obtained here on Thursday.
He delivered the statement during the hybrid dialogue forum of Energy Transition in Growth Markets on Tuesday (June 21).
This forum is one of the events conducted by the Task Force Energy, Sustainability & Climate (ESC) and the Task Force Future of Work and Education in collaboration with the Accenture International Utilities and Energy Conference held on June 21-23, 2022, in Rome, Italy.
Themed "Maximizing the Value of the Energy Transition in Growth Markets and Paving the Way to B20," this forum discusses the future of the energy industry in an era that prioritizes sustainability and low emissions for a green future and a more sustainable planet.
The three policy recommendations include accelerating the transition to sustainable energy use by reducing carbon intensity in different ways. The second is ensuring a just, orderly, and affordable transition to sustainable energy use. The third recommendation pertains to increasing energy security, so that consumers can access and consume clean and modern energy.
"We are working hard to ensure there is an alignment between the performance targets set by the Italian B20 last year and our performance targets this year, so there will be a continuity," Wicaksono stated.
To ensure a fair, orderly, and affordable transition to sustainable energy use, Wicaksono stated that the pricing in developing countries should be taken into consideration. Thus, it is necessary to formulate ways to integrate the benefits of carbon pricing into the energy transition pricing.
"With the energy transition, we must also think about the security and availability aspects of world energy. At the same time, we must also ensure that everyone has access to clean and modern energy," he emphasized.
The managing director of Jababeka Infrastructure stated that the potential of decarbonization towards net-zero emission also comes from industrial areas. Furthermore, he invited companies in the B20 to conduct global collaborations that will result in business actions, as the provision of renewable energy for industrial companies with a large demand can contribute to achieving the energy transition target, he affirmed.
Wicaksono also accentuated the importance of energy transition and the important role of the B20 Energy, Sustainability, and Climate Task Force in achieving energy transition priorities, especially to achieve net-zero emissions.
On the same occasion, Chairman of the Indonesian Chamber of Commerce and Industry Arsjad Rasjid stated that currently, the main players in the energy and utility areas are facing challenges.
Collaboration becomes increasing important for achieving significant reductions in carbon emissions and a progressive transition from carbon-generating energy to environmentally friendly, greener, and sustainable energy, Rasjid stated.
"The transition to greener energy does not mean stopping profits for the company. The company's move towards clean energy will create added value for brands and consumers to become more confident and have a positive outlook," he remarked.
Head of Indonesia's B20 Organizer, Shinta Kamdani, stated that energy transition should provide benefits and not create burden. Kamdani pressed for making meticulous preparations for the energy transition, including conducting mitigation of the costs and impacts.
"This energy transition certainly requires substantial financial support. The G20 countries, which contribute 80 percent of the world's economy, are expected to provide this support for the transition process. Several main priorities must be put forward in this energy transition, such as accessibility, technology, and funding," Kamdani stated.
The event was moderated by Gianfranco Casati and Valentin de Miguel from Accenture that are the Co-Chair and Deputy Co-Chair of the B20 Energy, Sustainability, and Climate Task Force.
The forum also presented other keynote speakers: the Chair B20 Future of Work & Education Task Force/President Director of Astra Otoparts/Director of PT Astra International Tbk, Hamdhani D. Salim; Co-Chair B20 Future of Work & Education Task Force/IOE Vice President to The ILO, Renate Hornung Draus; WEF Head of Energy, Materials and Infrastructure, Kristen Panerali; and ENI Evolution CEO, Giuseppe Ricci.
Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Azis Kurmala, Editor: Sri Haryati (c) ANTARA 2022
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Tracing Pertamina’s cost efficiency amid high global oil prices
JAKARTA, Jun 22, 2022 – (ACN Newswire) – State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.
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"Through this business strategy, in 2021, Pertamina succeeded in cost optimization of US$2.21 billion, obtained from the cost savings program (cost-saving) of US$1.36 billion, cost avoidance of US$356 million, and additional revenue (revenue growth) of around US$495 million," director of finance of Pertamina, Emma Sri Martini, said in Jakarta on Tuesday.
Martini explained that Pertamina has developed several policies and business strategies from the financial and operational perspective to face the increasing global oil price challenges.
Pertamina is strengthening its financial strategy and operational efforts to improve efficiency across business lines, both holdings and sub-holdings and from upstream processing to downstream, amid increasing crude oil prices.
From a financial perspective, Pertamina has implemented a cost optimization program across the Pertamina Group, including cost savings, cost avoidance, and increased revenue.
Under the savings efforts, Pertamina is also running a hedging program for market risk management. In addition, the company has centralized procurement, prioritized capital expenditures, and is managing assets and liabilities to reduce costs or interest expenses (cost of funds).
"We are trying to optimize all costs and manage the company's financial aspects, to reduce costs, including prioritizing projects that have fast results," she said.
Besides financial tightening, Pertamina is also implementing an operational strategy to increase revenue for its six sub-holdings.
In the upstream business, Pertamina has continued to increase oil and gas production and lifting to take advantage of the increasing oil prices. As a result, production has increased by 4 percent and lifting by 3 percent.
The positive performance from upstream operations has been contributed by Rokan Block and foreign assets and consistent efforts to maintain production levels through well-drilling and resource discovery.
In 2021, Pertamina drilled 12 exploration wells and 350 exploitation wells. In the same year, its discovered reserves (2C) reached 486.70 MMBOE (million barrels of oil equivalent) and additional proven reserves (P1) reached 623.47 MMBOE.
In processing and petrochemicals, in 2021, Pertamina implemented a crude and product optimization strategy. This contributed to an increase in product yield value by around 3 percent.
The strategy is related to the selection and economic substitution of crude oil and maximizing high valuable products with high spreads. In 2021, refinery production also increased in response to higher energy demand due to national economic recovery.
Then, in the transportation and logistics sectors, Pertamina optimized the load factor to achieve revenue and cost-efficiency. In the gas business, Pertamina also increased the gas trade volume and transportation, as well as oil transportation volume.
"And after the legal end state, we will also intensify resource sharing, such as sharing facilities and development agreements, especially in upstream sub-holding," Martini said.
She added that the positive performance downstream was also supported by the government through the recognition of the difference in compensation for HJE JBT Solar and JBKP Pertalite in 2021, which reached around US$4 billion or equivalent to Rp58.6 trillion (excluding tax) and around US$1.7 billion or equivalent to Rp24.1 trillion (excluding tax) in 2018 and 2019.
According to Martini, the government's support will continue in 2022 through a policy revision that will stipulate Pertalite (RON90) as a Special Assignment Fuel in place of Premium (RON88) and an adjustment to the price of Pertamax.
As Pertamina's appreciation for this support, several initiatives in the downstream sector have been implemented that simultaneously respond to market changes, such as an expansion of digital transactions, acceleration of Pertashop outlets to capture larger market opportunities in rural areas, and diversion of gas station energy sources to solar panels.
We appreciate the government and the DPR's decision, which has increased the budget ceiling for subsidies and compensation for 2022 to maintain and protect people's purchasing power and contain potential inflation. This is a support for Pertamina in providing energy amidst the challenges of high crude oil prices," Martini said.
With this support, in 2022, Pertamina will make efforts to increase oil and gas production by 17 percent, targeting 79.9 percent Valuable Product Yield, adding around 3 thousand Pertashop fuel outlets, developing digital markets for up to 25 million MyPertamina users, and increasing revenue from non-captive markets in the shipping business to 7.5 percent.
To strengthen its commitment to low-carbon energy, it will produce 7,138 GWh of electricity, which will be supported by a targeted increase in the installed capacity of up to 2.9 GW. Another important strategy will be unlocking the value developed by subsidiaries.
"In the financial sector, we will focus on optimizing costs targeted to reach up to US$600 million. We will continue to communicate with the government to ensure a good decision for the company," Martini said.Jakarta (ANTARA) – State-owned oil and gas firm PT Pertamina (Persero) succeeded in achieving cost optimization of US$2.21 billion in 2021 amid high global crude oil prices.
"Through this business strategy, in 2021, Pertamina succeeded in cost optimization of US$2.21 billion, obtained from the cost savings program (cost-saving) of US$1.36 billion, cost avoidance of US$356 million, and additional revenue (revenue growth) of around US$495 million," director of finance of Pertamina, Emma Sri Martini, said in Jakarta on Tuesday.
Martini explained that Pertamina has developed several policies and business strategies from the financial and operational perspective to face the increasing global oil price challenges.
Pertamina is strengthening its financial strategy and operational efforts to improve efficiency across business lines, both holdings and sub-holdings and from upstream processing to downstream, amid increasing crude oil prices.
From a financial perspective, Pertamina has implemented a cost optimization program across the Pertamina Group, including cost savings, cost avoidance, and increased revenue.
Under the savings efforts, Pertamina is also running a hedging program for market risk management. In addition, the company has centralized procurement, prioritized capital expenditures, and is managing assets and liabilities to reduce costs or interest expenses (cost of funds).
"We are trying to optimize all costs and manage the company's financial aspects, to reduce costs, including prioritizing projects that have fast results," she said.
Besides financial tightening, Pertamina is also implementing an operational strategy to increase revenue for its six sub-holdings.
In the upstream business, Pertamina has continued to increase oil and gas production and lifting to take advantage of the increasing oil prices. As a result, production has increased by 4 percent and lifting by 3 percent.
The positive performance from upstream operations has been contributed by Rokan Block and foreign assets and consistent efforts to maintain production levels through well-drilling and resource discovery.
In 2021, Pertamina drilled 12 exploration wells and 350 exploitation wells. In the same year, its discovered reserves (2C) reached 486.70 MMBOE (million barrels of oil equivalent) and additional proven reserves (P1) reached 623.47 MMBOE.
In processing and petrochemicals, in 2021, Pertamina implemented a crude and product optimization strategy. This contributed to an increase in product yield value by around 3 percent.
The strategy is related to the selection and economic substitution of crude oil and maximizing high valuable products with high spreads. In 2021, refinery production also increased in response to higher energy demand due to national economic recovery.
Then, in the transportation and logistics sectors, Pertamina optimized the load factor to achieve revenue and cost-efficiency. In the gas business, Pertamina also increased the gas trade volume and transportation, as well as oil transportation volume.
"And after the legal end state, we will also intensify resource sharing, such as sharing facilities and development agreements, especially in upstream sub-holding," Martini said.
She added that the positive performance downstream was also supported by the government through the recognition of the difference in compensation for HJE JBT Solar and JBKP Pertalite in 2021, which reached around US$4 billion or equivalent to Rp58.6 trillion (excluding tax) and around US$1.7 billion or equivalent to Rp24.1 trillion (excluding tax) in 2018 and 2019.
According to Martini, the government's support will continue in 2022 through a policy revision that will stipulate Pertalite (RON90) as a Special Assignment Fuel in place of Premium (RON88) and an adjustment to the price of Pertamax.
As Pertamina's appreciation for this support, several initiatives in the downstream sector have been implemented that simultaneously respond to market changes, such as an expansion of digital transactions, acceleration of Pertashop outlets to capture larger market opportunities in rural areas, and diversion of gas station energy sources to solar panels.
We appreciate the government and the DPR's decision, which has increased the budget ceiling for subsidies and compensation for 2022 to maintain and protect people's purchasing power and contain potential inflation. This is a support for Pertamina in providing energy amidst the challenges of high crude oil prices," Martini said.
With this support, in 2022, Pertamina will make efforts to increase oil and gas production by 17 percent, targeting 79.9 percent Valuable Product Yield, adding around 3 thousand Pertashop fuel outlets, developing digital markets for up to 25 million MyPertamina users, and increasing revenue from non-captive markets in the shipping business to 7.5 percent.
To strengthen its commitment to low-carbon energy, it will produce 7,138 GWh of electricity, which will be supported by a targeted increase in the installed capacity of up to 2.9 GW. Another important strategy will be unlocking the value developed by subsidiaries.
"In the financial sector, we will focus on optimizing costs targeted to reach up to US$600 million. We will continue to communicate with the government to ensure a good decision for the company," Martini said.
Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Pertamina posts record net profit of Rp29.3 trillion
JAKARTA, Jun 22, 2022 – (ACN Newswire) – State-owned oil and gas firm PT Pertamina (Persero) posted a record net profit of Rp29.3 trillion in 2021 following a successful business transformation.
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The 2021 transformation helped push up its consolidated net profit (audited) to US$2.046 billion or around Rp29.3 trillion, president director of Pertamina, Nicke Widyawati, said in a statement issued in Jakarta on Tuesday.
The figure was almost double compared to the 2020 net profit of Rp15.3 trillion and exceeded the 2021 Corporate Work Plan and Budget (RKAP) target by 154 percent.
In 2021, Pertamina transformed its business by increasing efficiency and production, carrying out energy transition, developing oil and gas infrastructure, and implementing the Refinery Development Master Plan (RDMP) project.
Widyawati said Pertamina's successful transformation in 2021 was owing to the formation of the oil and gas holding with six sub-holdings: upstream sub-holding, refining and petrochemical sub-holding, commercial and trading sub-holding, gas sub-holding, integrated marine logistics sub-holding, and new and renewable energy sub-holding.
"This transformation is a strategic step to adapt to future business changes, moving more agile and faster, focusing on broader and aggressive business development," Widyawati said.
Pertamina's positive financial performance was also demonstrated by earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$9.2 billion.
This shows that Pertamina's finances are in a healthy (AA) and safe condition amid the disruption and geopolitical challenges affecting the global oil, gas, and energy industry, Widyawati said.
Pertamina's net profit was the consolidated profit of all subsidiaries from upstream, processing, to downstream.
Most of the profit was contributed by the upstream sector's revenue, which surged due to rising Indonesian crude prices (ICP). The downstream sector remained under pressure from the high cost of fuel production, the largest component of which is crude oil, Widyawati said.
In 2021, upstream oil and gas production increased from 863 thousand oil barrels equivalent per day (MBOEPD) in 2020 to 897 MBOEPD. Thus, Pertamina contributed more than 60 percent to national oil and gas production.
In addition, with Pertamina's massive drilling, production at Rokan Block also increased. Various efficiency programs also resulted in cost savings of US$1.4 billion.
Fuel production was also achieved according to the target, so there were no additional imports. Since April 2019, Pertamina is no longer importing solar and Avtur fuel, Widyawati said.
Pertamina has also completed the construction of two giant oil and gas tankers, namely VLCC Pertamina Pride and Pertamina Prime, which will be used for the global market.
Meanwhile, to improve fuel supply reliability in Eastern Indonesia, Pertamina has built and operated 13 new fuel terminals.
Pertamina is also running National Strategic Projects (PSN), including the Balikpapan RDMP Refinery (47 percent completion), Balongan RDMP refinery (68.5 percent completion), Cilacap Green Refinery, Tuban GRR Refinery, as well as other priority projects to strengthen Pertamina's petrochemicals business such as Polypropylene Balongan, Revamping Aromatic TPPI, and Olefin TPPI, she said.
Integrated digitization from upstream to downstream has been one of the keys to Pertamina's successful controlling of the production and distribution of fuel, as well as the improvement in the service quality to the community.
Through its Integrated Command Center, all operational activities can be monitored online and in real-time. The use of MyPERTAMINA application for cashless payments is increasing, and currently, it has reached more than 22 million users, Widyawati informed.
With the 2021 new energy development, in addition to the Biosolar B30 production, the Cilacap Refinery has succeeded in producing renewable diesel (100 percent biodiesel), with a capacity of 3 thousand barrels per day.
Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
BayWa r.e. Expands and Strengthens Renewable Energy Business with Wind Projects Representative Office Opening in Lang Son Province in Vietnam
HO CHI MINH CITY, VIETNAM, Jun 21, 2022 – (ACN Newswire) – Global renewable energy developer, service provider and distributor, BayWa r.e., today announced the opening of its Wind Projects Representative office in Lang Son Province, Vietnam. The opening of the Wind Projects Representative office will strengthen BayWa r.e.'s position as a key renewable energy developer in Vietnam and enable the company to provide a wider range of wind energy services in the country.
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The opening ceremony of the office was officiated by local government officials, which included leaders of the province's People Committee, relevant departments of Industry and Commerce, Planning and Investment, Natural Resources & Environment, Agriculture and Rural Development, Transportations and local districts and German Embassy representative Mr. Daniel Emunds, Economic Affairs and Development Cooperation as well as local partners and contractors. The new representative office is expected to promote positive socio-economic developments and impact for the local community.
Mr. Brian Barry, Head of Wind Asia, BayWa r.e. said "We are excited to see the exponential growth of BayWa r.e. in Vietnam and look forward to working closely with provincial and country stakeholders. We hope that through our investments into Vietnam and especially the Lang Son province at present, we will be able to bring more value to our stakeholders and communities living in the area. This is a step closer for us to work towards achieving Vietnam's strategy for sustainable and clean energy development and to facilitate the country's ambition of becoming net-zero by 2050."
Mr. Pham Hung Truong, Chief of Office of the People's Committee of Lang Son shared: "We welcome BayWa r.e. opening its Representative Office in Lang Son. It is hoped that the Representative Office will be an effective bridge between the company and local government agencies, promoting the successful implementation of investment and construction of wind power projects of BayWa r.e. in Lang Son, contributing to the socio-economic development of the province. We acknowledge the valuable support of BayWa r.e. to the two primary schools of Khuoi Lay and Suoi Long recently; at the same time, we believe that in the coming time, your company will continue accompanying the local government to strengthen forms of support to local communities in the spirit of "Harmonious benefits, sharing risks!".
BayWa r.e. first established its presence in Vietnam in 2020, with its head office located at Ho Chi Minh City. BayWa r.e. launched new services to its 'on-the-ground' operation in Vietnam, opening a solar distribution warehouse and new office facilities in Ho Chi Minh City to bring direct local access to solar PV, inverters, and much more renewable energy solutions. Since then, the company has been an active renewable energy partner in the Corporate & Industrial segment in Vietnam, developing Solar and Wind Projects, and providing Solar Distribution services.
In addition, BayWa r.e.'s development team also has a 400MW pipeline of wind energy projects across sites in north Vietnam and is developing 150MW solar projects in the south of the country. In Lang Son province, BayWa r.e. is planning to develop 240MW of wind energy projects to leverage Vietnam's wind capacity.
Added Mr. Barry, "Our office opening is a key milestone and the culmination of 2 years of development and investment in Lang Son. But this is just the beginning of our commitment and partnership with Lang Son as we prepare for the implementation of our wind projects. With our Lang Son office now established we will grow our Lang Son team to scale up our activities in preparation for our investment decision and the construction of the provinces first wind projects."
"Having an office located where we are operational will enable more efficient work processes and allow direct access for stakeholders to communicate with BayWa r.e. This will also facilitate future development of wind projects in this province. Our on-site employees will also be able to effectively monitor current and future wind energy projects, which will ensure the longevity of the developments."
BayWa r.e. recently announced the successful completion and handover of new sanitary facilities for Khuoi Lay Elementary School and Suoi Long Elementary School in Lang Son Province. This is part of BayWa r.e.'s long standing commitment to helping local communities, and also reaffirms the company's continued dedication to drive sustainable growth for the people of Lang Son province.
BayWa r.e. AG (BayWa r.e.)
At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4.5GW of energy online and manage over 10GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a EUR19.8 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. Visit https://www.baywa-re.com/en/.
Contact information:
PRecious Communications for BayWa r.e. AG
Foo En Jing
Tel: +65 6303 0567
E-mail: baywa-re@preciouscomms.com
BayWa r.e. AG
Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
Email: salim.pathan@baywa-re.com
Mark Cooper
Corporate Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Pacific Green Reaches Financial Close for GBP28.25 Million (US$34.90 Million) of Funding for its 99.98 MW Richborough Energy Park Battery Development
DOVER, DE, Jun 21, 2022 – (ACN Newswire) – Pacific Green Technologies, Inc. (the "Company" or "Pacific Green", (OTCQB:PGTK)) announces that it has reached financial close ("Financial Close") for GBP28.25 million (US$34.90 million) of senior debt for the Company's 99.98 MW battery energy storage system ("BESS") at Richborough Energy Park.
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The senior debt, in conjunction with the equity investment by Green Power Reserves Limited, will provide the Company with the funding to bring the battery park to commercial operations in June 2023.
The senior debt facility agreement is entered into with Close Leasing Limited ("CLL"), pursuant to which CLL will provide a development loan to fund the construction, which will be utilized in stages following the expenditure of the equity investment. The development loan will then be refinanced into a 10 year amortized term loan upon the start of commercial operations.
Scott Poulter, Pacific Green's Chief Executive, commented: "Reaching Financial Close is a big milestone in Pacific Green's transition into the world's leading vertical energy developer. This development has proven itself through the rigorous due diligence process and requirements of project finance, providing a template for Pacific Green to scale rapidly."
James Sutcliffe, Managing Director of Close Brothers Leasing's Energy team remarked: "We are thrilled to participate in this groundbreaking project finance scheme on one of the UK's largest battery energy storage systems, we look forward to working with Pacific Green on this project and the rest of their 1.1 GW UK pipeline."
Scott added: "Bankable projects such as Richborough Energy Park are the cornerstone of Pacific Green's "ODCO2 Energy Development Platform", which specializes in developing and operating optimized, turnkey renewable energy and storage parks across their entire lifecycle."
CLL is a market leader in providing specialist, structured finance solutions ranging in value from GBP250,000 to GBP50 million, particularly working with select, strategic partners to offer finance solutions in the renewable energy sector. CLL is part of Close Brothers Group plc.
About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The Company offers BESS, Concentrated Solar Power (CSP) and Photovoltaic (PV) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit Pacific Green's website: www.pacificgreentechnologies.com
About Close Brothers Group plc.
Close Brothers Group plc. is a leading UK merchant banking group, providing lending, deposit taking, wealth management services and securities trading. CBG employs over 3,700 people, principally in the UK. CBG is listed on the London Stock Exchange (LON: CBG) and is a member of the FTSE 250.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continuation of the facility agreement and the construction of the 99.98 MW BESS the Company is to develop in Kent; and any potential business developments in the UK and future interest in the Company's battery, solar and emissions control technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the facility agreement and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's annual report on Form 10-K for the most recent fiscal year, the Company's quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
CT Event Asia to host The 2nd Annual Clean Power & New Energy 2022
KUALA LUMPUR, June 21, 2022 – (ACN Newswire) – This year, CT Event Asia is all set to bring you the 2nd Annual Clean Power & New Energy 2022, themed “Shaping the Future of Energy in Asia“. Happening at the Mandarin Oriental Hotel on 20th-21st July 2022, this conference is the most efficient and targeted event for utility scale renewable companies. Bringing these industries together will create more value for participants by enhancing opportunities to network, broadening the scope of education and providing access to an exclusive audience.
Incorporating all renewable technologies will be more convenient and cost-effective for multi-tech businesses as well as companies specializing in wind, utility solar, artificial intelligence in the Energy sector, Green hydrogen energy, Bioenergy, Internet of energy and Engineering in renewable who will benefit from an efficient business development forum that attracts decision makers from large-scale developers, corporate buyers and utilities.
Attracting 500+ senior representatives from across the leading utility leaders, Government bodies, Renewable Energy companies, Engineering Procurement, Construction and Management, Economists, Financiers, Power Generation and Investors to discover how the Economic, Financial and Political framework for Energy is evolving, and to assess the implications of growing renewable deployment for the future shape of the Energy Industry. Here is our speaker list!
Join us now to get more insights from industry leaders on the future of Energy in Asia and meet our Sponsors and Partners as well with all of this to explore, our 2nd Annual Clean Power and New Energy 2022 is set out to be bigger than ever! Here’s our list of Sponsors and Partners.
The 2nd Annual Clean Power & New Energy 2022 website has full details about the program. Interested parties can visit the website here or request for the event brochure here.
To get in touch with our team for enquires relating to this event, feel free to reach out to:
Camara
Partnership Director
CT Event Asia
+60 16 283 2660 | +03 2710 7756
camara@cteventasia.com
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
Legend Capital Increases Carbon Neutrality Investments: Portfolio Company Talent New Energy Completes A++ Financing Round with Several Hundred Million RMB
HONG KONG, Jun 16, 2022 – (ACN Newswire) – Legend Capital's portfolio company Talent New Energy, a new Chinese powerhouse in the solid-state battery industry, recently announced the completion of its Series A++ financing round with several hundred million RMB. Legend Capital initially invested in Talent New Energy by joining the Pre-A financing round and continued to support the company's development by following up this Series A++ financing round.
With the improved battery technology and continuous high oil prices, the penetration rate of new energy vehicles is rising. The penetration rate of new energy vehicles in China reached 25.3% in April, and according to the industry forecasts, it will increase to 35% by the end of the year. Under the global background of carbon peaking and carbon neutrality, the wind power, photovoltaic and energy storage industry are also ushering in a golden era, gradually replacing the traditional fossil energy. With the technical advantages of high safety and high specific energy, it is widely believed in the industry that solid-state batteries will become the next trillion-level super track and the ultimate solution for battery technology.
Technology innovation is the core path to support the realization of carbon neutrality. With the acceleration of vehicle electrification, applications such as energy storage have opened up a new trillion-level market. Legend Capital actively explores suitable investment opportunities in more advanced lithium battery technologies. As a brand-new technology solution, new energy solid-state batteries have been deeply explored by many giants and startups in China and around the world. With nearly 20 years of international and domestic solid-state battery R&D technology accumulation, the Talent New Energy team has determined the oxide technology route and the gradual development path from mixed solid-liquid to all-solid-state lithium battery since the establishment of the company in 2018.
Legend Capital stated: "under the leadership of the founder Dr. GAO Xiang, the Talent New Energy team has been conducting R&D with the goal of industrialization, not only achieving a comprehensive breakthrough in product performance but also making Talent New Energy the leading semi-solid-state battery company in the market in terms of mass production capability. After the completion of the first investment in Talent New Energy last year, Legend Capital has continued to support the company's development by investing in each subsequent round of Talent New Energy's financing, helping the company become a leader in the solid-state battery industry in various aspects such as capital and industrial resources."
It is reported that Talent New Energy's first semi-solid-state power battery production line in Chongqing will be put into production in October this year. Talent New Energy said that after this round of financing, the company would accelerate the integration of technological resources to set up an advanced energy materials research institute and a new energy technology industrialization joint R&D center in Beijing. The company is accelerating the mass production and commercialization of semi-solid-state lithium batteries and striving to launch the all-solid-state lithium-ion battery at the end of this year, providing advanced and reliable energy solutions to the new energy vehicle industry and electrochemical energy storage industry and providing "energy blocks" for the construction of new infrastructure for high-efficiency cross-space-time energy storage in the future human society.
Under the goals of carbon peaking and carbon neutrality, Legend Capital's investments focus on energy system decarbonization, vehicle electrification/intelligence and synthetic biology. Energy decarbonization includes photovoltaics, wind power, smart grids; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.
Legend Capital has long been optimistic about the electrification, intelligence, and automation of new energy vehicles. It has invested in numerous enterprises in automation equipment, lithium batteries and material in the past 10 years, many of which were went public successfully, such as Wuxi Lead Intelligent (300450.SZ), CNGR Advanced Material (300919.SZ), Putailai New Energy (603659.SH), Hymson Laser (688559.SH), Colibri Technologies (002957.SZ). Legend Capital is also one of the early investors of CATL (300750.SZ).
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
BayWa r.e. wins big at Huawei APAC Digital Innovation Congress 2022
BANGKOK, Jun 15, 2022 – (ACN Newswire) – Global renewable energy developer, service provider and distributor, BayWa r.e. was the big winner at the Huawei APAC Digital Innovation Congress 2022 held in Singapore on May 19 and 20.
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Topics of the Huawei APAC Digital Innovation Congress included ongoing advancements in ICT and speeding up digital transformation across industries, as well as green and low-carbon development.
Besides winning the Instructor Gold Award 2022, recognised for best in technical and after-sales support, BayWa r.e. also swept awards in the "20-Million Revenue", "Top Seller" and "Excellent Marketing" categories.
Junrhey Castro, Managing Director, BayWa r.e. Solar Systems Corporation said, "These awards are not possible without the support and trust of BayWa r.e.'s customer base, and bear testament to the great work that our team have done. A customer-centric approach to business, coupled with the hard work and dedication of the local teams, have led us to being successful thus far and this will continue to spur BayWa r.e. on to greater heights."
"Advancement of solar technology and innovations within the industry to match with the adoption of digitalization will accelerate solar industry growth in APAC and globally. Digitalization drives development and decarbonization ensures that this development is sustainable", Castro added.
BayWa r.e. has been Huawei's partner in sales, distribution, and a Certified Service Partner in Thailand since 2019, providing premium solar products and solutions, with the company seeing an exponential growth in the Thai market by 30%.
"BayWa r.e. has been an integral partner for our growth in the Thai market, with a promising outlook for our partnership in the Philippines and Vietnam. Their awards are much deserved, and we look forward to taking our future cooperation to the next new level", Victor Sheng, Director of Huawei Digital Power Partner and Ecosystem Development, said.
Thailand has clear ambitions to further advance renewable energy adoption in order to meet the country's target of reducing greenhouse gas emissions (GHG) to 20.8% below business-as-usual levels by 2030. Advanced solar technology with reliable and efficient service is vital to ensuring increased uptake of solar installations. BayWa r.e.'s partnership with Huawei aims to support this renewable energy growth in Thailand.
BayWa r.e. AG (BayWa r.e.)
At BayWa r.e. we r.e. think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4.5 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. has one of the most experienced renewable energy teams in Asia Pacific with close to 200 employees working in the region across offices in Tokyo, Perth, Melbourne, Ho Chi Minh City, Cyberjaya, Seoul, Manila and our regional headquarter in Bangkok, Thailand.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a EUR19.8 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. Visit https://www.baywa-re.com/en/.
Huawei Technologies Co. Ltd
Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 194,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. We are committed to bringing digital to every person, home and organization for a fully connected, intelligent world. To this end, we will: Drive ubiquitous connectivity and promote equal access to networks; Provide the ultimate computing power to deliver ubiquitous cloud and pervasive intelligence; Build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; Redefine user experience with AI, making it more personalized for people across all scenarios, whether they're at home, in the office, or on the go. www.huawei.com
Contact Information
PRecious Communications for BayWa r.e. AG
Daniel Tan
Tel: +65 6303 0567
E-mail: baywa-re@preciouscomms.com
BayWa r.e. AG
Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
Email: salim.pathan@baywa-re.com
Mark Cooper
Corporate Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com
Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com
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