Latest news with #Feed-inTariff
BusinessToday
15-05-2025
- Business
- BusinessToday
BTM Relinquishes Its Feed-in Tariff Approval After Reassessing Viability
BTM Resources Berhad announced that its wholly-owned subsidiary, BTM Biomass Products Sdn Bhd has relinquished its Feed-in Tariff (FiT) approval granted by the Sustainable Energy Development Authority Malaysia for a 10 Mega Watt per hour biomass power plant project. SEDA's agreement to the relinquishment was formalised in a letter dated May 7, 2025, and the relinquishment took effect on April 30, 2025. The initial FiT approval was granted to BTMBP on July 1, 2020, to finance, design, supply, build, own, operate, and maintain the renewable electrical energy power plant to supply electricity to Tenaga Nasional Berhad. BTM stated that the decision to relinquish the FiT approval came after it reassessed the project's viability due to current market uncertainties, including raw materials price volatility, and the difficulty in securing favorable financing following the cancellation of banking facilities. The company believes that the relinquishment will not have a material impact on its operations, as construction of the biomass power plant had not yet commenced. However, BTM Resources clarified that the group still holds another Feed-in Approval dated May 31, 2022, granted to BTM Land Sdn Bhd, for a 7 Mega Watt per hour renewable electrical energy power plant. The company is currently reassessing the potential utilization of this second FiT approval and may consider relinquishing it as well if market conditions remain unfavorable. BTM Resources also announced that it is undertaking an internal assessment of the project land in Kemaman, Terengganu, initially designated for the biomass power plant, to explore alternative business ventures for long-term growth. The company is evaluating a potential new business, with further details to be announced as agreements are finalized. Related
Yahoo
13-05-2025
- Business
- Yahoo
Renewable Energy Adoption: Key Insights for a Changing Market
NORTHAMPTON, MA / / May 13, 2025 / Given the changing dynamics in the global energy market, how businesses access and consume energy can be complicated. Geopolitical conditions, regulatory pressures, and market demand can create scenarios that can affect business operating costs and stability. One option that many businesses are evaluating is the adoption of renewable energy sources, with potential benefits ranging from brand enhancement to cost resilience. While renewables may not be the right fit for every organization, understanding the available incentives and market drivers can help inform strategic energy decisions. To better understand today's energy landscape, it's helpful to explore how renewable energy incentives have developed over time, and what they might offer businesses evaluating their energy strategies. This blog provides an overview of key financial opportunities and operational considerations, including tax breaks, long-term cost savings, and potential brand positioning benefits, to support informed decision-making about renewable energy investments. Understanding Renewable Energy Incentives and Their Evolution The global push towards renewable energy has prompted governments worldwide to introduce incentives that support businesses in adopting sustainable energy sources. Tax credits, grants, and rebates have become instrumental in making renewable energy more accessible and financially feasible for organizations of all sizes. The origins of incentive programs The groundwork for renewable energy incentives began in the 1970s, as the oil crisis steered the conversation toward the need for energy alternatives. The 1978 Energy Tax Act in the U.S. was a foundational policy that introduced tax credits for solar and wind investments. Meanwhile, in Europe, countries like Germany and Denmark launched Feed-in Tariff (FIT) programs in the 1990s, offering businesses fixed payments for renewable energy production. These FIT programs provided a reliable revenue stream, encouraging companies to invest in solar and wind technologies by guaranteeing consistent returns. These early initiatives helped build the foundation for the renewable energy market by making adoption more financially attractive, sparking a ripple effect of innovation and further investment worldwide. How incentives have evolved over time As global awareness of climate change has grown, renewable energy incentives have been adapted to drive adoption at scale, supporting a range of technologies beyond solar and wind, and aligning with global climate agreements like the Paris Accord. Key examples of today's expanded incentives include: Investment and Production Tax Credits (ITC and PTC)- United States: The ITC allows businesses to deduct up to 30% of renewable energy project costs, while the PTC, primarily for wind energy, provides credits based on energy produced. While President Donal Trump's Unleashing American Energy executive order paused clean energy-related federal disbursements, this does not currently impact these tax credits. European Green Deal (EU): Launched in 2019, this initiative provides grants and funding for businesses adopting renewable energy to help Europe reach its target of net-zero emissions by 2050. Companies can apply for funds to support renewable projects across industries, making adoption accessible and cost-effective. Canada's Clean Technology Investment Tax Credit: Canada's federal government offers a tax credit for businesses investing in clean technologies, including solar, geothermal, and battery storage systems. This program supports renewable energy adoption as part of Canada's climate strategy. Japan's Green Investment Promotion Program: To support its decarbonization goals, Japan offers financial incentives such as subsidies and low-interest loans for companies investing in renewable energy, particularly in solar and hydrogen. Today, businesses have access to a broad spectrum of tax breaks, grants, and credits that reduce the initial costs of renewable energy adoption. These include federal incentives, state and local programs, and international initiatives, making renewable energy projects more financially accessible and appealing. Key Takeaways The landscape of renewable energy incentives has evolved significantly over the past several decades, offering businesses a range of opportunities to explore sustainable energy sources. While each organization's path to renewable energy adoption may differ based on operational needs, market conditions, and regulatory environments, understanding the financial tools available-such as tax credits, grants, and rebates-can support informed decision-making. As energy markets continue to shift, staying aware of evolving policies and incentives can help businesses assess whether renewable energy aligns with their broader strategic goals. Whether the priority is cost management, risk mitigation, or contributing to broader sustainability objectives, having a clear view of available resources ensures that companies are well-positioned to evaluate all their energy options. Questions? Our team is here to help you get answers. Reach out today! View additional multimedia and more ESG storytelling from Antea Group on Contact Info:Spokesperson: Antea GroupWebsite: info@ SOURCE: Antea Group View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Express
28-04-2025
- Business
- Daily Express
Emphasis on solar, clean energy
Published on: Monday, April 28, 2025 Published on: Mon, Apr 28, 2025 By: Sherell Jeffrey Text Size: Sabah is building Southeast Asia's largest battery system in Lahad Datu. This massive 400 megawatt-hour battery is expected to be ready in two months. Kota Kinabalu: Sabah is charging ahead in switching to solar and other clean energy sources to provide affordable, sustainable power while addressing challenges like grid stability and funding. With 350 megawatts of solar capacity expected to be connected to the grid by 2026 and plans to expand to 800 megawatts by 2030, Sabah hopes to make clean energy accessible and affordable. 'Right now, solar in the recent bid, we got a very competitive price range between 20 to 24 cents per unit,' said Energy Commission of Sabah (ECoS) Strategic Planning Director Terrence John Kouju. 'That is quite effective and way below what we expected. We will continue to use solar as a main source of renewables going forward in the next five years,' he said at the inaugural Sabah Renewable Energy Conference 2025's Panel Session 2 titled Overcoming Hurdles and Transforming Tomorrow: Sabah's Renewable Energy Transition Strategies. 'Sabah currently has 150 megawatts of solar connected to its power grid, with another 200 megawatts recently approved. These efforts are part of Sabah's bigger plan to reach 80 per cent renewable energy by 2050,' he said. He noted that despite solar's cost advantages, there is a technical challenge, and Sabah's power grid can only handle up to 22 per cent solar power without becoming unstable. To solve this problem, Sabah is building Southeast Asia's largest battery system in Lahad Datu. This massive 400 megawatt-hour battery is expected to be ready in two months. The Feed-in Tariff (FIT) programme introduced in 2014 was a game-changer for solar energy in Sabah. 'When FIT came in 2014 in Sabah, the whole scene changed, the whole landscape. It made it easier for us to install solar panels into the grid. Why? Because it is fully subsidized,' said Terrence. However, when ECoS took over in 2022, the FIT programme ended. 'We can no longer rely on Federal Peninsular side of the collection from the consumers. So, when we look at Sabah's collection only, the total collection here is only 24 million. But the commitments to FIT total up to 16 million a year,' he said. 'Previously, the Large Scale Solar is between 59 and 54 cents per unit. In contrast, the new exercise, even 15 megawatts, the highest award, still produces below 34 cents and at least below 30 cents,' he said. This makes solar much more cost-effective compared to other renewable sources, especially when compared to the current average electricity price in Sabah. 'The electricity tariff is now, Sabah Electricity is having electricity tariff on average 34.5 cents per unit. 'For other resources such as biomass, biogas, geothermal, all these generation costs from this type of renewables cost more than 30 cents,' he said. Despite solar's decreasing costs, financial challenges remain in Sabah's renewable energy transition. The end of the Feed-in Tariff system created funding gaps that must be addressed as Sabah works toward energy independence from the federal government by 2030. 'Going forward, once the subsidy from Federal Government ceases to support Sabah, because eventually by 2030, that is the target where Federal wants Sabah to be self-sustainable in terms of electricity supply, Sabah has to come up with a solution,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Yahoo
24-04-2025
- Business
- Yahoo
Nexif Ratch Energy Signs Amended Power Purchase Agreements for Its Ben Tre Wind Power Project, Accelerating Path to Financial Close
Site of Nexif Ratch Energy Ben Tre BEN TRE, Vietnam, April 24, 2025 (GLOBE NEWSWIRE) -- Nexif Ratch Energy has reached a key milestone in the development of its 80MW Ben Tre Wind Power Plant project, having successfully signed Amendment and Supplement Agreements to the original Power Purchase Agreements (PPAs) with Vietnam Electricity (EVN) on 18 April 2025. With the expiration of the Feed-in Tariff (FiT) regime in October 2021, the Vietnamese government actively worked to establish a new pricing mechanism that reflects lower renewable energy investment costs while continuing to attract long-term private investment. In this context, Nexif Ratch Energy has worked diligently and collaboratively with all relevant authorities to agree on a revised tariff, positioning the project as one of the first transitional wind energy projects in Vietnam to sign a Power Purchase Agreement (PPA). The successful negotiations with EVN mark a breakthrough, reflecting strong cooperation among key stakeholders, including EVN and its subsidiary, Electricity Power Trading Company (EPTC). This achievement comes at a pivotal moment in Vietnam's renewable energy landscape, as the country continues to strengthen its regulatory framework and accelerate the transition to cleaner energy sources. The government has taken significant steps toward this goal through the enactment of new laws, decrees, and guidelines related to the power sector, and through the revision of Power Development Plan 8 (PDP8), which proposes ambitious new renewable energy targets — an additional 16.1GW of onshore and nearshore wind, and 27.9GW of utility-scale solar capacity by 2030. These efforts are intended to drive growth in the renewable energy sector while keeping Vietnam competitive in attracting investment in green infrastructure. Mr. Surender Singh, Chairman of the board of directors of Nexif Ratch Energy, commented, "We commend the Vietnamese government for its proactive efforts in driving the country's energy transition. Structural changes in the energy sector require a strong and coordinated approach between government, regulators, and, importantly, investors. As we have seen with the Nexif Energy Ben Tre Wind Power Plant project, success relies on strong, ongoing partnerships to overcome challenges and unlock new opportunities for the country's sustainable future." Mr. Cyril Dissescou, CEO of Nexif Ratch Energy, added "I'm proud of our team for their persistence and focus in achieving this milestone. I also want to thank EPTC for their close collaboration. This success reflects the strength of our partnerships and our shared commitment to Vietnam's clean energy future." With the amended PPAs now signed and key procedural steps completed, the project is advancing towards financial close, with construction scheduled to begin in the second half of 2025. This progress underscores Nexif Ratch Energy's commitment to delivering sustainable and reliable energy to Vietnam's national grid, supporting the country's energy transition, and contributing to the development of a greener future. About Nexif Ratch Energy Nexif Ratch Energy is a leading renewable energy company focused on the development, acquisition, construction, and operation of clean-energy projects across the Asia Pacific region. Headquartered in Singapore with regional offices in Vietnam, the Philippines and Thailand, the company's portfolio includes 378 MW of operating, under-construction, and shovel-ready hydro, solar, and wind energy assets. Additionally, Nexif Ratch Energy has a development pipeline totaling 3.2 GW across wind, solar, and energy storage projects. Nexif Ratch Energy is jointly owned by Nexif Energy (Singapore) with a 51% stake and RATCH Group (Thailand) with a 49% stake. For Media Inquiries: Chariya PoopisitNexif Ratch Energycommunications@ A photo accompanying this announcement is available at in to access your portfolio
Associated Press
03-03-2025
- Business
- Associated Press
Wang & Lee Group, Inc. Acquires Solar (HK) Limited to Accelerate Renewable Energy Innovation in Hong Kong
Hong Kong, March 03, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (WLGS), a leader in sustainable technology solutions, today announced its acquisition of Solar (HK) Limited ('SolarHK'), a pioneering solar energy company, through an allotment of shares valued at approximately HK$15 million. This strategic move aims to integrate SolarHK's extensive solar expertise with WLG's lithium-ion battery initiatives, advancing Hong Kong's transition to renewable energy. SolarHK: A Trailblazer in Renewable Energy Established in 2019, SolarHK has been at the forefront of promoting renewable energy adoption across Hong Kong. The company offers comprehensive services, including solar photovoltaic (PV) system design and installation, green energy project approvals, and emission reduction management. Aligned with the Hong Kong SAR government's sustainability goals, SolarHK provides one-stop solutions for residential and commercial clients, enabling participation in programs such as the Feed-in Tariff (FiT) scheme. Notable projects completed by SolarHK include installations at: 青衣船廠 (Tsing Yi Shipyard) 利維大廈 (Liven House, Kwun Tong) 港興混凝土有限公司 (Quon Hing Concrete Manufacturer, Tsing Yi – a subsidiary of New World Development) 出入易迷你倉 (In n Out Storage, Aberdeen) 錦田沙律之家 (Kam Ting Maison De Charlotte, Yuen Long) 西貢莫遮輋 (Mok Tse Che, Sai Kung) Strategic Synergy and Expansion The acquisition creates synergies between WLG's lithium-ion battery research—developed in collaboration with City University of Hong Kong—and SolarHK's solar technology and expansive network. SolarHK's coverage spans over 50 locations across Hong Kong, positioning WLG to deliver integrated energy storage and solar solutions for commercial, industrial, and residential sectors. Collaboration with Linko: Enhancing Smart Solutions Through WLG's partnership with Linko Smart Technology Limited ( a technology innovator, SolarHK's existing client base will gain access to IoT-enabled services. Linko will deploy AI-powered smart home assistants and energy management systems, enhancing efficiency and sustainability for households and businesses utilizing SolarHK's infrastructure. Leadership Perspectives Mr. Ho, CEO of Wang & Lee Group, stated: 'This acquisition marks a pivotal step in our mission to advance clean energy ecosystems. SolarHK's proven track record and localized expertise complement our battery technology, enabling holistic solutions that reduce carbon footprints and empower Hong Kong's green future.' Mr. Gary Chik, Founder of SolarHK, added: 'Joining forces with WLG amplifies our capacity to innovate and scale. Together, we will accelerate the commercialization of renewable energy, driving tangible benefits for our clients and the community.' Completion and Forward Vision The transaction is expected to finalize within the week. Post-acquisition, WLG plans to expand SolarHK's service offerings, leveraging synergies to introduce cutting-edge energy storage systems and smart technologies. This aligns with Hong Kong's 2050 carbon neutrality targets and global sustainability trends. About Wang & Lee Group, Inc. Wang & Lee Group specializes in sustainable technologies, including energy storage systems and smart infrastructure. Collaborating with academic and industry leaders, WLG is committed to delivering innovative solutions that address climate challenges. About Solar (HK) Limited SolarHK, established in 2019, is a Hong Kong-based renewable energy pioneer offering end-to-end solar solutions. Its services span design, installation, certification, and maintenance, supporting clients in achieving energy independence and sustainability.
