Latest news with #JBIC
Zawya
4 days ago
- Business
- Zawya
AMEA Power launches 500MW wind farm in Egypt
Arab Finance: AMEA Power has successfully commissioned a 500-megawatt wind power plant in Ras Ghareb, Egypt, marking the largest operational wind farm on the African continent, as per a statement. The project reinforces Egypt's role as a key player in Africa's renewable energy transition. Developed as a joint venture between AMEA Power, which holds a 60% stake, and Japan's Sumitomo Corporation with 40%, the Amunet Wind Power Plant is expected to produce around 2,500 gigawatt-hours of electricity annually. This is enough to power more than 500,000 homes while avoiding 1.4 million tons of carbon dioxide emissions each year. The commissioning comes just months after AMEA Power inaugurated a 500MW solar PV plant in Aswan in November 2024. With both projects, the company has now brought 1 gigawatt of clean energy capacity online in Egypt within six months. Constructed 2.5 months ahead of schedule, the wind farm employed over 800 workers at peak and included local training programs aimed at youth in nearby communities. The initiative reflects AMEA Power's focus on socio-economic development, job creation, and long-term skills building. The project was financed by a consortium including the Japan Bank for International Cooperation (JBIC), International Finance Corporation (IFC), Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, and Standard Chartered Bank. The commercial tranche was insured by Nippon Export and Investment Insurance (NEXI), with working capital support from Egypt's Commercial International Bank (CIB). The Ras Ghareb wind farm is part of AMEA Power's expanding portfolio in Egypt, which also includes its Aswan solar plant and several other pipeline projects. These include a 1,000-megawatt solar PV development with 600-megawatt-hour battery storage in Aswan, a second 500-megawatt wind project in the Red Sea Governorate, an extension of the Aswan solar plant with a 300-megawatt-hour storage system, a 500-megawatt-hour battery energy storage project in Zarfana, and a 1,000-megawatt-hour facility planned for Benban. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Borneo Post
31-05-2025
- Business
- Borneo Post
Sarawak Energy signs MOU with Japan's JBIC to advance clean energy interconnectivity
Fadillah (middle), Awang Tengah (back row, left) and Liew (back row, right) witness the MOU signing and exchange between Sarawak Energy's Suhaili (foreground, far left) and JBIC's Sekine (foreground, far right) on Saturday. – Bernama photo OSAKA (May 31): Sarawak Energy and the Japan Bank for International Cooperation (JBIC) formalised a Memorandum of Understanding (MoU) on Saturday to collaborate on renewable energy development, enhancement of cross-border energy infrastructure and technical knowledge exchange. The partnership reinforces ongoing effort to support Southeast Asia's energy transition while advancing regional interconnectivity and sustainability efforts. The signing ceremony took place after the official opening of the Malaysian Pavilion at Expo 2025 Osaka, which was officiated by Malaysia's Deputy Prime Minister, Datuk Seri Fadillah Yusof. Sarawak Energy's group chief executive officer, Datuk Sharbini Suhaili, signed the MOU alongside JBIC's managing executive director, Sekine Hiroki. Also present were Deputy Premier of Sarawak, Datuk Amar Awang Tengah Ali Hasan; Deputy Minister of the Ministry of Investment, Trade, and Industry Liew Chin Tong; Ambassador of Malaysia to Japan, Datuk Shahril Effendi Abd Ghany; MITI Deputy Secretary General (Industry) Datuk Hanafi Sakri; and Malaysia Pavilion director Ellyza Mastura Amhad Hanipiah. The MOU establishes a framework for strategic collaboration between Sarawak Energy and JBIC to advance renewable energy initiatives and enhance regional interconnectivity. 'Sarawak is stepping up its plan to deeply integrate Borneo into the ASEAN power grid,' Awang Tengah commented during a press conference after the MOU signing. 'Sarawak is also actively enhancing its grid infrastructure to strengthen power distribution across the state and beyond. 'Besides renewable energy, Sarawak is transforming its industrial landscape through strategic diversification into hydrogen, carbon capture, utilisation and storage (CCUS), oil and gas, petrochemical products, and aerospace. 'These developments complement the sustainable oil and gas sector and expansion into high-value petrochemical downstream activities with advanced technologies and sustainable practices.' The Sarawak Deputy Premier said this is shaping a dynamic economic hub in Southeast Asia, balancing economic growth and environmental responsibility while achieving long-term prosperity. 'Today's signing of an agreement between Sarawak Energy and the Japanese Bank for International Cooperation will partly enhance our collaboration. 'In this respect, I would like to invite more Japanese companies to invest and participate in Sarawak's economic development agenda.' Aligned with the ASEAN Power Grid initiative and the Asia Zero Emission Community (AZEC), the partnership contributes meaningfully to long-term sustainability and strengthens regional cooperation. Both organisations will engage in ongoing dialogue and explore joint opportunities that support Sarawak Energy's long-term growth strategy and Southeast Asia's broader decarbonisation efforts. The MOU signing was coordinated with the support of the federal Ministry of Investment, Trade and Industry, and Sarawak's Ministry of Utility and Telecommunication, through the Ministry of International Trade, Industry and Investment Sarawak.
Yahoo
03-04-2025
- Business
- Yahoo
Chile's Codelco secures $666m loan from Japan's JBIC, commercial bank
Chile's national copper company Codelco has secured a $666m (631.83bn pesos) loan from Japan Bank for International Cooperation (JBIC) and a private financial institution. JBIC will provide up to $466m, while the remaining amount will come from the undisclosed commercial bank. This loan agreement aims to provide the necessary funds to securely import copper concentrates from Codelco for Japanese manufacturers amid rising global demand for copper due to decarbonisation efforts. Japan is seeking to secure long-term access to the critical metal as the demand for copper rises, driven by its use in electric vehicles, renewable energy, artificial intelligence, and data centers. "Since Japan relies solely on imports for copper concentrates, it is essential to secure a long-term, stable supply of copper resources," JBIC said in a statement. The country has set a goal of achieving at least 80% self-sufficiency in base metals, including copper, by 2030 under its Seventh Strategic Energy Plan, approved in February 2025. The latest loan aligns with this policy and enhances the supply chain resilience for copper products for Japanese companies, JBIC said. JBIC and Codelco signed a memorandum of understanding (MoU) in November 2023 to facilitate innovation in mining. The MoU focuses on cooperation in the development of critical minerals, including copper, molybdenum, and lithium, while supporting decarbonisation efforts. Codelco intends to strengthen business relations with various Japanese companies to bolster its position in the global copper market. The Chilean copper miner has been seeking funding sources to support its multi-billion-dollar investment plan aimed at revitalising key mines and mitigating the decline in ore grades across its operations, reported Reuters. However, these projects have faced setbacks due to delays, accidents, and operational challenges. "Chile's Codelco secures $666m loan from Japan's JBIC, commercial bank" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Japan Times
24-03-2025
- Business
- Japan Times
Japan-India business ties can go the extra mile
Japanese and Indian businesses have made notable strides toward closer collaboration, leveraging their complementarity, but substantial support is needed to sustain the newfound momentum. This boost should come from both Tokyo and New Delhi, ensuring that positive rhetoric translates into tangible results. According to the Indian government, though foreign direct investment in the country declined in 2023, Japanese investment has shown a steady upward trajectory. India's growth prospects, large local market, inexpensive labor costs and steady macroeconomic conditions make it an increasingly attractive destination. Japan is already the fifth-largest source of foreign direct investment in India. A 2023 survey by the Japan Bank for International Cooperation (JBIC) ranked the South Asian country as the most promising medium-term overseas business destination for Japanese manufacturers, ahead of Vietnam and China. Even so, I cannot help but feel that the presence of Japanese companies in India has reached a plateau, with a general tendency toward risk-aversion leading to few new market entrants. While existing firms are doubling down on their operations, the flow of fresh investment has slowed down. The proportion of Japanese companies with plans to invest in India fell to 38% last year, a decrease of 7% from the previous year, according to JBIC. Surveyed firms cited various challenges in entering the Indian market, including underdeveloped infrastructure and intense competition from more aggressive non-Japanese companies. Uncertainties in the legal landscape, particularly at a state and local level, are especially challenging. For example, the Japan Sake and Shochu Makers Association reported a 62% surge in sake exports to India in 2023, fueled by the growing number of urban restaurants serving Japanese cuisine. At face value, this should present a promising opportunity for Japanese producers, but the reality is different. Even though India's approval last April of nihonshu's geographical indication has helped boost consumer trust and brand recognition, the Indian alcohol industry operates under one of the world's most complex regulatory frameworks, including states that ban alcohol sales altogether and inconsistent taxation rules across regions. Another hurdle for Japanese companies is fierce competition from Indian firms favored by their government. This is evident in the pharmaceutical sector where, theoretically, there is significant potential for deeper bilateral trade and investment given Japan's advanced health care technology and India's cost-effective drug manufacturing capabilities. But Indian public health procurement prioritizes 'made in India' drugs, and slow and complex clinical trial approvals also make things difficult. To ease this process, Japanese companies could establish contract development and manufacturing organization partnerships with Indian companies to diversify supply chains beyond China. Another widely cited barrier to entry is India's underdeveloped infrastructure — though most businesses, except for a few large ones, are unaware of India's rapidly improving infrastructure, mainly due to their limited on-the-ground engagement. In the semiconductor sector, Japan and India signed a memorandum of cooperation in July 2023 to strengthen their supply chain partnership. This paved the way for a few major players, including chipmaking equipment manufacturers Tokyo Electron and Disco, to enter the market. The challenge is getting small- and medium-sized enterprises to collaborate and take advantage of India's improving infrastructure, such as the Dholera Special Investment Region in the state of Gujarat. Japanese executives often do not fully grasp local developments, leading to heightened perceptions of risk and uncertainty when evaluating new business prospects. These obstacles are compounded by nontariff barriers on both sides. The comprehensive economic partnership agreement between the two countries, signed in 2011, was expected to enhance trade by reducing tariffs and boosting India's exports to Japan by 18%. However, India has since seen a growing trade deficit with Japan, significantly driven by nontariff barriers. For example, Japan's sanitary and phytosanitary measures pose major hurdles to Indian exports of poultry, meat, tuna, shrimp, marine products and fruit. While a trade deficit isn't inherently harmful, it highlights the need for both governments to work together to establish mutually recognized standards and certification processes. Promoting public-private dialogues and consultations is essential to addressing nontariff barriers and facilitating smoother trade. More broadly, global supply chains are shifting and great-power competition is increasing. The Japanese and Indian governments should actively support and push for stronger business ties, especially in sectors like banking, pharmaceuticals, medical devices, electronics, automotive, batteries and green hydrogen. Both countries continue to benefit from the efforts of their respective ambassadors but the diplomatic push needs more high-level engagement due to the complex and rapidly changing geopolitical situation. To boost economic collaboration, trade missions should be organized by both governments and their private sectors, supported by prominent industry groups or key intermediaries to connect businesses. At the same time, the renegotiation of the free trade agreement should be sped up to address nontariff barriers and reduce business hesitation in various sectors, helping both sides make better use of their commercial potential. Additionally, promoting joint research, technology transfer and educational exchanges would strengthen people-to-people connections, deepening ties — as would more interactions between trade promotion organizations. It is vital to focus diplomatic efforts on building stronger business links between India and Japan, overcoming internal challenges and driving sustainable economic collaboration that benefits both in the long term. Chitrali Parashar is a Washington-based analyst with The Asia Group, a strategic advisory firm.
