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Infrastructure & PPPs in Singapore and Cambodia - Q4 2022 Update

YOG INFRA Q4 2022 insights

Encouraging developments in areas of clean energy transition in SINGAPORE. LAOS and CAMBODIA with a view to move towards respective Net Zero and NDC targets. Loas and Cambodia are further progressing on infrastructure developments with support from international investors and DFIs.

Read the latest developments in Infrastructure and PPPs in the three countries in our final insight of Q4 2022 series.

 

Singapore

KEPPEL AND SHELL PLAN LOW CARBON ENERGY HUB

Keppel Data Centres Holding and Shell Eastern Petroleum will jointly study the commercial and technical feasibility of developing a low carbon energy hub and microgrid system in Singapore.

The hub, meant to power both companies' assets, will be designed to take accept various renewables sources, including imported power. It will be developed around various energy-related infrastructure components, such as cable landings and turbines with a microgrid system at its core.

The companies will also explore the project’s scalability and exportability to other sites and overseas markets.


SINGAPORE UNVEILS NATIONAL HYDROGEN STRATEGY

Singapore has outlined a national strategy to develop hydrogen to achieve net zero emissions by 2050. It will take steps to prepare for hydrogen deployment domestically and work with partners to build a hydrogen supply chain in Asia.

Singapore will call for expressions of interest for a small-scale commercial project using ammonia for power generation, including developing ammonia supply chains to also support marine bunkering needs.

It will conduct research and development work to advance these hydrogen technologies. Hydrogen will be a key focal area for the second phase of the Low Carbon Energy Research program. A further SGD 129 Mn (USD 90.61 Mn) will be set aside for Phase 2.

The government will work closely with industry and international partners to enable the formation and scaling up of supply chains for low-carbon hydrogen. Singapore will develop the land and infrastructure plans for the mass deployment of hydrogen and pace its implementation accordingly.


SINGAPORE’S MERCURY ENERGY PLANS TAIWAN SOLAR PORTFOLIO

Mercury Energy Partners is planning to invest in a solar portfolio of up to 600 MW capacity in Taiwan over the coming 5 years. The Singapore-based renewables developer and investor, which manages about USD 200 Mn, is seeking green field investment opportunities on the island.

Some possible sites it is looking at are in northwest Yunlin County, southwest Chiayi county, and southern Taiwan city. It will mainly focus on utility-scale solar opportunities and intends to secure land plots for ground-mounted projects.

In addition to solar, the developer is also interested in exploring power storage project development and green power trading businesses. Mercury will raise debt in the local banking market for the greenfield projects backed by credit insurance and it will engage in design, construction, financing and operations of the projects.


SEMBCORP COMPLETES WORK ON SEA’S LARGEST ENERGY STORAGE FACILITY IN SINGAPORE

Sembcorp Industries has completed works on a 285 MWh energy storage system (ESS) facility on Jurong Island, making it the largest such facility in the Southeast Asia region. The ESS is capable of storing and delivering around 200 MW of electricity per hour, enough to power 17,000 homes in a single discharge.

Energy Market Authority (EMA) appointed Sembcorp to construct the facility. The ESS technology will improve grid reliability by addressing solar intermittency on overcast and rainy days.


Laos

LAOS'S ENERGY EXPORTS UP BY 7.5% in 2022

Energy exports from Laos were up by 7.5 per cent in 2022, as compared to 2021. Additionally, around USD1.76 billion was generated from energy exports to Thailand, Vietnam, Cambodia, Singapore, and China during the year.

For 2023, the Government of Laos is targeting energy generation of 51,134 million kWh, marking a 72 per cent increase from the 2022 targets. The government will also continue negotiating to further boost the exchange of electricity through the grid-to-grid system with neighbouring nations.


PLANS ANNOUNCED FOR 1.2 GW WIND FARM IN LAOS

The Government of Laos has announced plans to build a 1.2 GW wind farm in partnership with Savan Vayu Renewable Company and LTM Lao Company. The project is expected to cost around USD2.15 billion.

The wind farm will be located in the Lako area of Sepon District, Savannakhet Province. Work on the facility is expected to be completed by the end of 2025. Once operational, a portion of the wind energy generated will be supplied to the local grid while the remaining will be exported, primarily to Vietnam.


Cambodia

CHINA ROAD SIGNS CAMBODIAN HIGHWAY PPP

China Road and Bridge Corporation (CRBC) has signed an agreement to develop a new highway project in Cambodia. The state-owned company signed a framework agreement with the Cambodian government to develop the Phnom Penh-Bavet Expressway in the PPP mode, with a view of signing a concession agreement with the government.

Bavet is the largest city in Cambodia's western Svay Rieng Province bordering Vietnam. Construction will commence from 2023 with an expected commissioning date in 2026. The government will also look to team up with CRBC on other railway and expressway projects. The CRBC will conduct a feasibility study on the new expressway.

The USD 2 Bn expressway project will have a total length of 135 km and will pass through Kandal, Prey Veng, and Svay Rieng provinces as well as the Bavet border gate between Cambodia and Vietnam.

The Guangxi province bank of China Development Bank is interested in providing project finance for the proposed highway.


ADB TO SUPPORT DEVELOPMENT OF 2 GW SOLAR PROJECTS IN CAMBODIA

The Asian Development Bank (ADB) will support and finance the development of around 2 GW of solar power projects in Cambodia as part of the country’s efforts to achieve net zero by 2050. A transaction advisory services mandate has been signed with state-owned utility Electricite du Cambodge (EDC), to explore opportunities for combined solar and battery storage development. The initiative will run through 2030.

Additionally, ADB will assist EDC in implementing a 100 MW pilot project identified under the study. The demo scheme is expected to mobilise up to USD100 million of investments and will be used as a model that will be subsequently replicated in other projects.

The program is considered to be one of the largest yet in Cambodia’s renewable sector.

 

ABOUT YOG INFRA

Our objective is to drive economic growth and make positive social impact through sustainable infrastructure development. ​

YOG INFRA is an infrastructure focused financial advisory firm. We work with Developers and Development Finance Institutions (DFIs) and help them make informed investment decisions across infrastructure development lifecycle.

With our offices in Singapore and India, we work on projects globally, and the team brings strong experience in supporting development of infrastructure projects.


For more information about us, our service offerings and team, please visit www.yoginfra.com Contact us at info@yoginfra.com


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