Deals this week: Active Energy Group, Direct Energy Business, AC Energy

19 October 2018 (Last Updated October 19th, 2018 12:12)

Active Energy Group (AEG) plans to form a joint venture with Georgia Renewable Power (GRP) to install CoalSwitch production facilities in the US.

Active Energy Group (AEG) plans to form a joint venture with Georgia Renewable Power (GRP) to install CoalSwitch production facilities in the US.

A new company called Active Energy Renewable Power will be established and will initially perform installations at the GRP’s North Carolina facility. Two additional CoalSwitch facilities will later be constructed at GRP’s biomass-to-energy power plants in Carnesville and Colbert, Georgia.

Based in the UK, Active Energy Group is a renewable energy company focused on traditional and second-generation biomass products. Georgia Renewable Power is a US-based company, which develops biomass-to-energy power plants.

Centrica subsidiary Direct Energy Business has agreed to acquire electricity retailing portfolio and related assets of Source Power and Gas for A$38m ($27m).

Based in the US, Source Power and Gas is an indirect subsidiary of Australia-based ERM Power and is a retail energy provider. US-based DEB provides commercial electricity, natural gas, solar, and compressed natural gas (CNG) solutions.

The asset purchase is part of Direct Energy’s strategy to expand its operations in North America.

AC Energy and AMI Renewables Energy have signed engineering, procurement and construction (EPC) and financing documents for developing up to 80MW of solar power projects at Dak Lak and Khanh Hoa in Vietnam.

“The project is expected to help the grid achieve a renewable energy target of 45% by 2025 and will reduce 22% of emissions from the energy sector.”

The $83m solar projects will be financed with debt and equity.

Indovina Bank of Vietnam and RCBC of the Philippines have agreed to provide non-recourse financing for developing solar power plants at Dak Lak and Khanh Hoa.

Based in the Philippines, AC Energy is an energy platform of Ayala, while AMI Renewables Energy, also based in the Philippines, is engaged in renewable energy development.

The Republic of Palau has signed a 30-year power purchase agreement (PPA) with Engie Electro Power Systems (EPS) for a 100MW microgrid project called Armonia.

Global renewable energy platform GridMarket has developed a comprehensive energy plan for Palau, which is considered to be the biggest microgrid project in the world. It will feature a dispatchable solar PV system with 35MW of renewable energy and 45MWh of energy storage.

In combination with existing diesel generation, the project is expected to transform Palau grid into a smart, integrated system.

The project is expected to help the grid achieve a renewable energy target of 45% by 2025 and will reduce 22% of emissions from the energy sector to below 2005 levels.