Quick Hits

29 Sep India Approves New Round of Incentive Scheme to Support Solar Module Industry

Posted at 12:43 by Lexy Li

The Indian government has approved an additional INR195bn (USD2.4bn) funding for a new round of production-linked incentive (PLI) scheme to promote the production of high-efficiency solar photovoltaic (PV) modules, as reported by the Economic Times on September 22. Under the scheme, selected manufacturers will receive...

29 Sep Mitsubishi Plans for A Large Ammonia Hub in Texas

Posted at 12:34 by Lexy Li

Japanese trading house Mitsubishi Corp [8058:JP] is mulling constructing one of the world's largest ammonia production facilities in Texas, as reported by Nikkei Asia on September 28. On the same day, the Japanese company signed a memorandum of understanding (MOU) with the Corpus Christi port...

28 Sep Suzuki to Ramp up Automobiles Transported by Rail in India to Reduce Emissions

Posted at 18:16 by Jordy Leo

Japan’s Suzuki Motor [7269:JP] is building rail terminals within two Indian assembly factories, aiming to reduce transportation costs and greenhouse gas emissions by replacing road freight with rail freight, as reported by Nikkei Asia on September 24. Automobile transportation by train from Suzuki's Gujarat plant...

28 Sep MUFG, Top Banks Publish Asia’s Financial Transition Guidelines

Posted at 18:08 by Jordy Leo

The Asian Transition Finance (ATF) Study Group, a consortium of multiple private financial institutions, drew up guidelines for financing low-carbon technologies and energy transition projects in Asia to help tackle climate change, as reported by Reuters on September 26. The study group published two reports:...

28 Sep Australia’s Victoria to Invest USD102m in Energy Storage Projects

Posted at 18:00 by Jordy Leo

Australia’s Victoria state announced a AUD157m (USD102m) package to ramp up battery energy storage, as reported by Reuters on September 27. Specifically, the state government will use the USD102m investment to build a 125 megawatt (MW) big battery and four projects using new technology to...

28 Sep Singapore to Study Plans for a Greener Changi Air Hub

Posted at 17:41 by Jordy Leo

Singapore’s Changi Airport may adopt cleaner vehicles, improve cooling systems, and install solar panels on untapped open spaces within the airport to reduce the carbon footprint of the aviation industry, as reported by Strait Times on September 23. A report with suggestions on how to...

28 Sep China Approves 18 Certification Agencies for Green Bond Issuance

Posted at 17:27 by Jordy Leo

Chinese regulators designated 18 credit rating and accounting agencies as the country’s first officially approved green bond certification authorities to regulate the fast-growing market, as reported by Caixin on September 22. The Green Bond Standards Committee (GBSC), affiliated with China’s National Association of Financial Market...

27 Sep Foxconn to Set up Indonesian JV to Manufacture EVs and Batteries

Posted at 16:37 by Lexy Li

Hon Hai Precision Industry [2317:TT], commonly known as Foxconn, will establish a joint venture (JV) in Indonesia with local energy company Indika Energy [INDY:IJ] to build electric vehicles (EVs) and batteries, as reported by Nikkei Asia on September 23. Foxconn would invest USD1.75m in the JV...

27 Sep POSCO to Invest USD14.1bn to Cut Carbon Emissions

Posted at 16:30 by Lexy Li

South Korean steelmaker POSCO Holdings [005490:KS] will invest KRW20tr (USD14.1bn) to reduce carbon emissions from its operations, as reported by Nikkei Asia on September 23. To replace polluting old blast furnaces, the company will construct two electric furnaces, one at its Gwangyang factory and the...

26 Sep Chinese EV Maker Leapmotor to Raise USD800m with Hong Kong IPO

Posted at 19:18 by Lexy Li

Chinese electric vehicle (EV) manufacturer Zhejiang Leapmotor Technology (Leapmotor) will price its Hong Kong initial public offering (IPO) at HKD48 (USD6.12) per share with a goal of raising USD800m, as reported by Reuters on September 25. Leapmotor said last week that it planned to sell...

22 Sep Australia’s Fortescue Metals Invests USD6.2bn in Decarbonizing Iron Ore Business

Posted at 11:57 by Jordy Leo

Australian iron ore company Fortescue Metals [FMG:AU] announced a plan to invest about USD6.2bn over the next decade to decarbonize its iron ore operations and eliminate the use of fossil fuels from its business by 2030, as reported by Bloomberg on September 20. Fortescue Metals...

22 Sep Indonesia to Phase out Coal-Fired Power Plants within 30 Years

Posted at 11:46 by Jordy Leo

Indonesia seeks to keep coal-fired power plants running for another ten years and then completely move away from fossil fuels within the next 20 years, as reported by Bloomberg on September 16. According to Indonesia’s State-owned Enterprises Minister, Erick Thohir, Indonesia will need USD600bn to...

22 Sep Singapore Plans to Introduce Deposit for All Metal Cans and Plastic Bottles

Posted at 11:42 by Jordy Leo

Singapore’s National Environment Agency (NEA) announced the new beverage container return scheme that will apply a deposit of SGG0.1 to 0.2 (USD0.07 to 0.14) to all metal and plastic beverage containers for all pre-packed beverages, as reported by Strait Times on September 20. The small...

21 Sep Siam Cement to Develop Building Materials with 50% Fewer Carbon Emissions

Posted at 15:47 by Jordy Leo

Thailand’s largest cement maker Siam Cement Group (SCG) [SCC:TB] plans to introduce a new product that reduces carbon dioxide emissions during production by half compared to conventional cement, as reported by Nikkei Asia on September 17. This is part of SCG’s plan to achieve a...

21 Sep Mitsubishi Heavy to Release Small Modular Carbon Capture Devices in 2023

Posted at 15:40 by Jordy Leo

Japan’s Mitsubishi Heavy Industries [7011:JP] plans to roll out a set of compact carbon capture units next year, targeting small businesses that seek carbon reduction but cannot afford large carbon capture units, as reported by Nikkei Asia on September 18. Due to the expensive costs...