TLDR:
- Over 1,984.775 MW of solar energy capacity set to surge in the Philippines to fortify the country’s energy infrastructure
- Beacon VC and SUN Group close a $3 million Series A funding round for Thai solar startup ION Energy
In the Week in ASEAN, the Department of Energy in the Philippines reveals plans to introduce 4,164.92 MW of power projects this year to enhance grid stability. Among these projects, 1,984.775 MW of solar energy capacity is set to boost energy infrastructure in the country. The projects encompass a mix of renewable and conventional sources, with Luzon, Visayas, and Mindanao benefiting from additional capacities. The timeline indicates new operations in the 2nd, 3rd, and 4th quarters of the year.
In another development, Beacon VC and SUN Group have successfully closed a $3 million Series A funding round for ION Energy, a Thai solar startup. The investment aims to bolster ION’s capacity in providing affordable solar energy solutions to residential users and SMEs in Thailand. This marks a significant move towards advancing sustainable energy solutions in the region.
The article also highlights collaborations and agreements between Singapore and Indonesia for renewable energy partnerships, as well as initiatives in Malaysia, Philippines, and Indonesia to accelerate energy transition and invest in renewable energy projects. These partnerships and investments reflect a broader push towards sustainability and renewable energy adoption in the ASEAN region.
