Latest news with #energtransition
Forbes
30-05-2025
- Business
- Forbes
Billionaire Sukanto Tanoto's RGE, TotalEnergies To Build Solar Project In Indonesia
Solar panel cell. getty Royal Golden Eagle (RGE)—controlled by Indonesian billionaire Sukanto Tanoto—and French energy giant TotalEnergies agreed to develop a solar power project in Indonesia. Under the deal that was announced this week, the two companies, through their 50:50 joint venture Singa Renewables, will develop, build, and operate a solar power plant with a battery energy storage system in Indonesia's Riau Province, south of Singapore. 'We are taking meaningful steps to advance regional connectivity and contribute to the acceleration of the energy transition in the region,' Imelda Tanoto, managing director of RGE, said in the statement. The project will be constructed in phases and will supply power for green industrial estates in Riau and also export the electricity to Singapore. The company, however, didn't disclose when the project will be completed. 'Our utility-scale project underscores TotalEnergies' commitment to supporting the region's energy transition efforts, while ensuring energy security,' Helle Kristoffersen, president for Asia of TotalEnergies said. Last September, Singa Renewables secured conditional approval from Singapore's Energy Market Authority to import one gigawatt of solar-generated electricity to the city state. With a real-time net worth of $3.4 billion, Tanoto is among the wealthiest in Indonesia. His privately held RGE is a diversified conglomerate with over $35 billion in assets across pulp and paper, palm oil, and energy industries, employing 80,000 people globally. Through his real estate arm Pacific Eagle Real Estate, he has expanded his property portfolio across China, Singapore and Europe.
Reuters
22-05-2025
- Business
- Reuters
Solar shines as Germany's top electricity source in April: Maguire
LITTLETON, Colorado, May 22 (Reuters) - Solar farms are set for a record stretch of power sector dominance in Germany after becoming the single largest generation source in the country at the earliest point of the year ever. Solar farms generated more power than all other generation sources in April, according to data compiled by LSEG, which was a month earlier than recorded in 2024 when solar farms became the country's primary power source from May through August. If solar plants remain the single largest power source through August, that would mean that Europe's largest economy would be primarily powered by solar farms for five straight months, with fossil fuels playing only a back-up role. And with Germany's total power needs set to slide in the summer as heating demand stops, the share of clean power in the generation mix could climb to record highs - furthering energy transition progress in the influential country. The roughly 11,920 gigawatt hours (GWh) of power generated by Germany's utility-scale solar farms was 31% larger than generated during the same month in 2024, and nearly 60% more than generated in April of 2023. Total generation from solar farms in April also exceeded the 10,600 GWh generated by Germany's coal plants and the 9,634 GWh generated by wind farms, LSEG data shows, and helped cement solar's status as a key power source during spring and summer. Key to solar's expansion has been a 90% rise in solar generation capacity since 2019, with roughly 90 gigawatts of utility-scale solar capacity in place in the country as of 2024, according to data from energy think tank Ember. The roughly 43 GW of solar capacity added since 2019 dwarfs the capacity increases of other power sources over the same period, and compares to 12 GW of wind power and around 5 GW of gas-fired power added during the 2019 to 2024 window. Germany's solar capacity increased by 20% just within 2024 alone, with 15 GW of new capacity put in place last year. That larger footprint in turn helped to boost solar's share of the generation mix to new heights, with the 32% share registered in April up sharply from the 23% share posted during the same month in 2024. Going forward, solar's share of the generation mix will likely continue to set new records in the coming months, with last year's record share of 35% - scored in July - a viable target as soon as next month. As solar farms only generate power during daylight, Germany's power firms must maintain other generation sources at the ready to balance system needs. So far in 2025, coal-fired power plants have been the country's main alternative to renewable supplies, with coal-fired power generation jumping by 44% during the first four months of 2025 from the same period in 2024. Gas-fired power generation also climbed sharply during January to April - by 26% from the year before - to make up for a steep shortfall in output from German wind farms, which was down by around 31% from January to April 2024. During the upcoming summer, coal and gas-fired plants will retain a key role in Germany's overall generation system, especially in the evenings once solar production slumps. However, rapid expansions in utility-scale battery systems will likely act as a cap on fossil fuel generation this summer even when solar production stops. Germany's utilities added just over 6 GWh of battery storage systems in each of the past two years, according to SolarPower Europe, a regional renewable energy association. That battery storage capacity base - the largest in Europe - will allow utilities to store surplus solar power when it is generated during the day, and then discharge it to customers during peak consumption periods in the evening. In turn, that extra power supply from battery systems will help limit the need for fossil fuel power output, and ensure that Germany's power system can make maximum use of the country's continually-growing solar resources. The opinions expressed here are those of the author, a columnist for Reuters.
