Deals this week: Gulf SRC Company, Tilt Renewables, ReNu Energy

16 November 2018 (Last Updated November 16th, 2018 10:01)

Gulf SRC Company has secured a loan of $227.7m from Asian Development Bank (ADB) for the development of a 2.5GW combined-cycle power plant in Thailand.

Gulf SRC Company has secured a loan of $227.7m from Asian Development Bank (ADB) for the development of a 2.5GW combined-cycle power plant in Thailand.

The power plant will help in meeting electricity requirements of the Chonburi region in Thailand and is expected to be commissioned in 2022.

Gulf SRC Company is owned by Independent Power Development, which is a joint venture between Gulf Energy Development (GED) and Mitsui & Co.

Asian Development Bank is a financial institution that caters to economic and social growth in Asia.

Tilt Renewables has attained financial closure on the 336MW Dundonnell wind farm being developed in Victoria, Australia.

The wind farm is being developed with an estimated investment of A$560m ($404m) and is expected to be operational by 2020.

Tilt Renewables has contracted Vetas to provide turbines for the project and AusNet Services for providing transmission connection services.

Based in New Zealand, Tilt Renewables is a power generation company.

ReNu Energy has signed heads of agreement (HOA) with GrainCorp Operations for developing solar photovoltaic (PV) projects within the latter’s east coast facilities network.

"The two companies will also partner to develop a pilot solar PV project across various locations in Victoria and New South Wales."

ReNu will build, own and operate the solar assets of GrainCorp Operations. The two companies will also partner to develop a pilot solar PV project across various locations in Victoria and New South Wales.

Based in Australia, ReNu Energy is an independent power producer delivering clean energy products and services, while GrainCorp is a leading grain exporter.

The Blue Circle (TBC) has signed an agreement with AC Energy to develop 1.5GW of wind projects in South Asia.

AC Energy holds 25% equity stake in TBC and holds the right to invest at the project level.

Both companies are expected to start construction on 200MW of wind projects next year in Vietnam.

TBC is a renewable energy generation company based in Singapore, while AC Energy is an energy investment holding organisation focused in the Philippines.

ABB has signed an agreement with the State Grid Corporation of China (SGCC) to supply high-definition equipment for the Zhangbei high-voltage direct-current (HVDC) grid in the Chinese Beijing-Tianjin-Hebei area.

The contract involves the delivery of numerous components including an HVDC light valve, high-voltage capacitors, transformer components and power semiconductor devices.

Based in Switzerland, ABB is a provider of technology solutions, while SGCC is China’s public electric utility company.