ENERGY

Gen X Energy and ACE Enexor Agree to Jointly Develop LNG and Green Hydrogen Fueled Power Plant in the Philippines

Gen X Energy | January 18, 2022

Gen X Energy enters into a joint venture with ACE Enexor Inc., a subsidiary of AC Energy Corp., to develop Batangas Clean Energy, Inc.’s 1,100 MW combined cycle power plant project. The project will be capable of using natural gas and green hydrogen as its fuel to provide firm power to the grid to meet the Philippines’ growing energy demand and reduce the country's reliance on coal fired power generation. The joint venture will result in Gen X Energy and ACE Enexor each holding a 50% interest in BCE.

We are excited about this opportunity to partner with ACE Enexor in the Philippines to meet the energy needs of the Philippines and facilitate the country’s transition to cleaner sustainable sources of energy.”

Scott Kicker, Founder and Chief Executive Officer of Gen X Energy

The project will be strategically located in the Batangas Bay Area of the Philippines, close to the load center of Metro Manila. Gen X Energy will continue holding a 50% interest in BCE through its wholly owned subsidiary Red Holdings B.V.

Spotlight

This report deals with the possible taxation (CAT/CGT/Income tax) treatment of the installation of solar panels on farmland. It does not deal with other issues linked to the development of solar energy enterprises on farmland such as planning, grid connection or environmental/renewable energy targets as these are issues outside the scope of the responsibility of the Minister for Finance.


Other News
PRODUCTS

Enlight to Acquire 525 MW Portfolio of Solar and Wind Projects in Croatia

Enlight Renewable Energy | July 07, 2022

Enlight Renewable Energy (TASE: ENLT) has signed an agreement for the acquisition and joint development of a 525 MW portfolio of renewable energy projects in Croatia, across various stages of development. The portfolio comprises five projects, four of which are solar, totaling 386 MW and one of which is wind, totaling 139 MW. Enlight projects that the projects will commence construction from the end of 2023 through 2025, subject to the successful completion of the development phase for each project.The portfolio is one of the largest and most advanced portfolios of renewable energy projects in Croatia, and will enable Enlight to diversify its activity in Croatia to include significant solar projects, alongside its existing operational high-quality Lukovac wind project. As a member of the European Union, Croatia has adopted a far-reaching National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from 28% to over 36% by 2030 and 66% by 2050. Croatia benefits from one of the strongest solar resources in Europe and untapping the potential of its solar resources will be key to achieving the country's 2030 and 2050 renewable targets. The acquisition also reinforces Enlight's already strong presence across Central and Eastern Europe, where the Company owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia and Croatia, including 316 MW of operational projects. Enlight Renewable Energy founded in 2008 and traded on the Tel Aviv 125 Index is 98% publicly held. It is among the Israeli leaders in initiation, development, funding, construction and operation of ventures for generation of clean electricity from renewable energy sources. The company operates in Israel and Europe, benefits from a diverse portfolio of revenue-generating projects that are under construction, leading up to construction and with a signed agreement for the sale of electricity (PPA) with an output of approximately 3,800 MW, approximately 1, 200 MW in advanced development stages and an additional approximately 12,200 MW in various stages of development. The company has a growing revenue pipeline from long-term agreements for the sale of electricity and is also working to expand its footprint in additional clean energy markets and segments.

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INDUSTRY UPDATES

Capstone Green Energy to Provide Low Emission Microturbine System to Major Global Oil & Gas Company in Malaysia

Capstone Green Energy Corporation | August 02, 2022

Capstone Green Energy Corporation's (NASDAQ: CGRN) distributor in Malaysia and Brunei, Sekito, has secured an order for a 200 kW microturbine-based system for an oil and gas application owned by a major global oil and gas company.Because low emission microturbine-based systems have such minimal maintenance needs, they are an ideal fit for unmanned applications like this one, especially where control and monitoring must be done remotely," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. The reliability, efficiency, and ultra-low emissions of the Capstone Green Energy technology are incredibly compelling in these types of remote or offshore applications. The new system will feature one ATEX-certified Capstone C200S microturbine. Providing prime power for an offshore wellhead platform in Sarawak, Malaysia, this retrofit system will replace an obsolete Calnetix Power Solutions TA100 microturbine currently at the site. It will use high-pressure natural gas (HPNG) from the platform wellhead as a fuel source. It is expected to be commissioned in March 2023. This is a repeat order for the customer who purchased Capstone units for some of its other remote oil production platforms. Beyond being satisfied with the microturbine's performance, the customer values the technology for its low maintenance requirements compared and low greenhouse gas emissions. "Sekito has become the choice power generation service provider for many oil and gas customers in the region. We provide them with highly efficient energy solutions as well as ongoing maintenance services. We also offer remote monitoring and control along with smart predictive AI that anticipates site needs, Because Capstone's microturbine technology uses an air bearing system, it can eliminate maintenance costs and increase the system's reliability. Microturbines also produce minimal greenhouse gas emissions, so they are an environmental solution that will benefit future generations," Mohd Azam, Managing Director of Sekito About Sekito Sekito was established to fulfill the demand for power generation and control solutions for major industries, especially in the oil and gas sector. Sekito’s core business of power generation solutions utilizes Capstone microturbines, which are primarily used in oil and gas applications for unstaffed platforms to deliver continuous power using the wellhead gas supply. Sekito’s other lines of business include, but are not limited to, Electrical Panel and System Integration Services for all Low-Voltage Panel Ratings. Sekito’s range of services includes design, fabrication, installation, commissioning, testing, and maintenance. About Capstone Green Energy Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems. For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

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ENERGY

Renewable Energy Group Enters Strategic Partnership with CFN and Pacific Pride to Expand Distribution of Cleaner Fuels

Renewable Energy Group, Inc. | May 23, 2022

Renewable Energy Group, Inc. (REG) (NASDAQ: REGI), a global producer and supplier of bio-based diesel, has entered into strategic collaboration agreements with CFN and Pacific Pride, two of North America’s largest cardlock fueling networks, to provide cleaner fuels through their branded cardlock networks. Partnering REG’s portfolio of bio-based diesel with CFN and Pacific Pride’s vast network of cardlocks will allow the companies to play a critical role in furthering the utilization of cleaner fuels by fleets across North America.REG’s bio-based diesel is easy to adopt and immediately begins reducing fossil carbon emissions. Under the new arrangement, REG’s UltraClean BlenD™, a proprietary blend of biodiesel and renewable diesel, and other fuels from REG’s EnDura Fuels™ product line, will be available to customers via CFN and Pacific Pride’s vast cardlock network. CFN and Pacific Pride operate cardlocks in a number of regions across the U.S. and Canada. “We continue to provide our Marketers with the tools and products they need to adapt to a changing marketplace, Our alliance with Renewable Energy Group will position our networks for the future by ensuring we have the products available to meet the needs of the growing biofuels market.” -CFN and Pacific Pride President, Eric Lind For REG, this opens up new customer opportunities through a larger geographic footprint, and allows the business to provide bio-based diesel directly to end users. The businesses are committed to continuing to provide customers with the quality and service they expect, with an expanded offering of cleaner fuel options. This collaboration exemplifies what we want to do at REG: work with industry leading companies and help guide customers during the energy transition by enabling them with access to clean fuel alternatives, said Bob Kenyon, Senior Vice President, Sales and Marketing at REG. “Our cleaner fuels and customer service are helping to reduce greenhouse gas emissions today and offer a plug-and-play solution for most fleets across North America. The organizations hope to begin expanding availability of bio-based diesel later this year, initially focused on cardlocks on the West Coast. Renewable Energy Group’s technical services team will support the implementation, ensuring customers are receiving the best products for their region and season. About Renewable Energy Group Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, Renewable Energy Group produced 480 million gallons delivering 4.1 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future. About CFN and Pacific Pride CFN and Pacific Pride provide fuel card authorization, transaction processing, cardlock site branding, and reciprocal site access for independent petroleum marketers. Marketers join the CFN and Pacific Pride networks to provide their fleet customers access to cardlock network locations, and realize the economic benefit from customers of other members fueling at their locations. Through a CFN or Pacific Pride affiliation, petroleum marketers can offer commercial fleets an integrated fueling solution with access to over 57,000 locations via the Fuelman® network, a FLEETCOR® company. Based in Seattle, Washington, CFN and Pacific Pride are the largest private-branded cardlock networks in North America. CFN and Pacific Pride are part of the FLEETCOR® (NYSE: FLT) portfolio of brands.

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INDUSTRY UPDATES

ADO ebike Laboratory has been certified as "QTL Laboratory" by SGS

A DECE OASIS(ADO) | May 31, 2022

On May 27th, A DECE OASIS(ADO) ebike laboratory passed the internationally recognized organization SGS qualification as "QTL laboratory" certification! This is undoubtedly a breakthrough achievement and this is a new chapter for ADO right after the 1st anniversary ceremony. The laboratory is about 3,300 square meters located in south of Huizhou, with a total investment of 15 million RMB .The ADO Laboratory is committed to research new technology for building a better electric bike, also incubating leading innovative products. However, SGS advanced testing technology would definitely benefit on upgrades the quality of products, enhance the product research ability, and technological innovation ability in the electric bike industry as well . This certification is a recognized benchmark for quality and integrity. It provides comprehensive testing in accordance with EU, Canadian and other standards and issues widely recognized authoritative testing reports. It is the only leading brand designated by many notaries. ADO's DECE series products have passed SGS CE certification. However, the ADO laboratory has already met the SGS facility requirements and has many advanced testing instruments that can handle testing items such as comprehensive support for new product testing, component testing, electrical system safety assessment, and mechanical fatigue testing. It will cover functional testing of product, mechanical, material, strength properties, etc. As of today, ADO has more than 16 patents and 6 software copyrights, and developed the ADO G-Drive dual-mode control system, forming a differentiated competitive advantage in product performance. Now, with the support of SGS, CE certification and QTL laboratory certific ation, it means that ADO has an international leading edge in product quality and specifications. ADO always puts users first, insists on product quality and service, and is committed to building an ebike community with full of love and growth. With the strategic goal of building a global brand of technological innovation in the pedelec vertical industry, the dream has come true and become a global trustworthy brand from China as "Crescent Moon Spring".

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Spotlight

This report deals with the possible taxation (CAT/CGT/Income tax) treatment of the installation of solar panels on farmland. It does not deal with other issues linked to the development of solar energy enterprises on farmland such as planning, grid connection or environmental/renewable energy targets as these are issues outside the scope of the responsibility of the Minister for Finance.

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