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Infrastructure & PPPs in Singapore, Laos and Cambodia - Q3 2021 Update

Singapore, in line with the Green Plan 2030, is trying to diversify the energy mix through power imports and greenfield developments of renewable energy projects. Laos and Cambodia have also renewed development of hydro projects on the Mekong river.


Read the latest developments in Infrastructure and PPPs in the three countries in our final insight of Q3 2021 series.

 

Singapore

TEMASEKS INVESTS IN HYDROGEN ENERGY PARTNERSHIP

Singapore-listed Nanofilm Technologies is launching a joint venture with investment firm Temasek Holdings to develop hydrogen as an energy source. Nanofilm will contribute up to SGD 140Mn (USD 102Mn) to the Sydrogen JV, including SGD 21Mn cash and the group’s licences on intellectual property relating to the business. Nanofilm will hold a 65% interest in the joint venture, while Temasek will own the rest.

Sydrogen will focus on research and development of the hydrogen energy sector and the construction of production capacity. Nanofilm owns proprietary technology related to the development of metallic bipolar plates for fuel cells and electrolysers, used to produce and store energy using hydrogen.


TOTAL BUYS SINGAPORE'S LARGEST EV CHARGING NETWORK

European power giant TotalEnergies has signed a deal to buy Singapore’s largest electric vehicle (EV) charging network from French conglomerate Bollore Group. Bluecharge makes up around 85% of the city-state’s total charging points. It was developed by Bollore in collaboration with the Land Transport Authority of Singapore (LTA) and other partners from the public and private sectors.

TotalEnergies is already installing and operating EV charge points in several other cities around the world, such as Paris, Amsterdam, London and Brussels, Alexis Vovk, marketing, and services president at TotalEnergies. The company is actively participating in Singapore’s green transition through partnerships and accelerated growth, and it is also using the city-state as a strategic launchpad in the region.


SINGAPORE MOVES AHEAD WITH 72 MW LANDFILL SOLAR PROJECT

Twenty-five energy and consulting firms have signalled interest in a project to build a 72 MW solar power plant at an offshore landfill site south of the Singapore mainland. JTC Corporation and energy giant Shell had issued a joint request for information (RFI) in June 2021 for the project at the Semakau landfill. They are now evaluating submissions from companies in Singapore and elsewhere.

The firms that have submitted information are:

1. Acciona Energy

2. Agru Technology

3. BEEX

4. China Communications Construction Company

5. Choong Sut Nin

6. Cleantech Solar

7. COWI

8. Cypark Renewable Energy

9. Engie Southeast Asia

10. Entoria Energy

11. G8 Subsea

12. Helios

13. JGC Corporation

14. Keppel Energy Nexus

15. LS Electric

16. LYS Energy

17. Munish Kumar (Erce)

18. Sembcorp Solar

19. Solpod

20. Sunseap Leasing

21. Surbana Jurong Infrastructure

22. Terrenus Energy

23. Vena Energy

24. Wenergy Global

25. Xander Willem Pierik

The 60ha project will potentially provide power to up to 17,500 households in Singapore. It will be the first large-scale solar project in the island nation.


KEPPEL, LAOS UTILITY PARTNER FOR 100 MW RENEWABLES IMPORT

Keppel Electric, an electricity retailing unit of Singapore's Keppel Corporation, and state-owned Electricite Du Laos (EDL) have agreed to explore the importation of renewable power from Lao PDR into Singapore. Keppel Electric and EDL initially planned a 100 MW trial which will bring renewable hydropower to Singapore via Thailand and Malaysia using existing interconnectors.

If the trial is successful, further imports will allow Keppel Electric to diversify its energy portfolio in Singapore. Keppel Electric and EDL also plan to explore other renewable energy opportunities, including the development and supply of hydropower for the ASEAN region and renewable energy tracking, verification, and assurance.

The agreement is part of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) - an inter-government project to study the feasibility of cross-border power trade from Lao PDR to Singapore.

 

Laos

PLANS APPROVED FOR A HYBRID FLOATING SOLAR PROJECT IN LAOS

The Government of Laos and Nam Theun 2 (NT2) hydropower plant’s shareholders have jointly approved plans for the construction of Nam Theun 2-Solar (NT2S), a hybrid floating solar project. The solar project will have a 240MWp installed capacity and will be built on the NT2 reservoir. The hybrid system will allow the solar installation to work in tandem with the hydro installation.

The Government of Laos and Electricite de France (EdF) have also signed a project development agreement for the development of the project. Other developers include Thailand-based Electricity Generating Public Company Limited (EGCO) as well as the Lao Holding State Enterprise (LHSE). Construction is scheduled to start in 2022 with commercial operations set to start during 2024.


PPA SIGNED FOR CROSS-BORDER WIND PROJECT IN LAOS

Impact Energy Asia Development Limited (IEAD) and Vietnam Electricity (EVN) have signed a 25-year power purchase agreement (PPA) for the 600 MW Monsoon Wind Project in Laos. This is ASEAN’s first cross-border wind energy project. The wind farm will be located in Southern Laos and a 500 kV transmission line will transfer the wind energy generated to Central Vietnam. Construction is scheduled to begin in 2022, with commercial operations expected to start during 2025.


GOVERNMENT OF LAOS TO DEVELOP 246 MORE HYDROELECTRIC DAMS

The Government of Laos has signed memorandums of understanding (MoUs) for 246 other hydroelectric projects to exports electricity to neighboring countries, primarily Thailand. The country currently has 78 dams in operation.

Despite expanding potential energy capacity, it is unclear whether the Electricity Generating Authority of Thailand (EGAT) will continue to purchase extra power supplied by future dam projects in Laos. It is likely that the agency will not sign agreements to purchase electricity from four planned Mekong River dams, including the Luang Prabang, Sanakham, Pak Lay, and Pak Beng dams.


MITSUBISHI-BACKED 600 MW LAOS WIND FARM SIGNS PPA

A 600 MW wind power project in Laos has signed a 25-year power purchase agreement with state-owned utility Vietnam Electricity (EVN). The agreement includes a feed-in-tariff of USD 6.95 cents per kWh. Thai power company BPCG is one of the sponsors of the project.

The plant, located in Sekong and Attapeu provinces in Southeast Laos, will supply electricity to Vietnam’s Quang Nam province through a 500kV transmission. Mitsubishi and Earth Power Investment (EPI), a member of Thai renewables firm Impact Electrons Siam, jointly own a 55% stake in the project through a Hong Kong-based holding company, while BCPG owns the remaining.

The project is set to reach commercial operations no later than 31 December 2025.

 

Cambodia

CAMBODIA AUTHORISES 923 MW HYDROPOWER PROJECTS

Hydropower projects for 923 MW are currently authorised, including the Srepok-3 and Srepok-4 projects for a total capacity of 416 MW, which are expected for 2024. According to a government master plan for 2020-30, the country will abandon plans to build new hydropower plants on the Mekong River for the next decade. The large 2,500 MW Sambor dam project, highly criticised due to its potentially high negative environmental impact, has been frozen, as has the Stung Treng project (1,200 MW).


YCH SEEKS EQUITY PARTNERS FOR CAMBODIA LOGISTICS PROJECT

Singapore-based YCH Group is looking for equity partners to develop a USD 200Mn logistics center in Cambodia, YCH expects to complete a feasibility study for the Phnom Penh Logistics Complex in early 2022 and sign a contract with the Cambodian government soon afterwards.

The financing of the project will come from a mix of local and international lenders, and that multilateral development banks will potentially be involved. The International Finance Corporation, which is part of the World Bank, and Temasek Holdings-backed investment firm Clifford Capital have expressed interest in financing the complex.

 

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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.


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