Tag: Sustainable Investment

Solarvest Holdings Berhad has achieved a remarkable milestone, announcing a record gross profit of RM55.2 million, fueled by declining solar panel costs and strategic growth in green energy solutions. This impressive achievement underscores the company’s leadership in Malaysia’s renewable energy sector and its commitment to driving sustainable growth.

For the six-month period ending 30 September, Solarvest reported its highest-ever first-half net profit of RM17 million, marking a 22.7% year-on-year increase from RM13.9 million during the same period last year. The momentum continued into the second quarter, with a net profit of RM9.2 million—a 28.1% jump compared to RM7.2 million in the previous year’s corresponding quarter. These gains were attributed to improved profit margins in the commercial and industrial segments, bolstered by reduced solar panel costs and strong electricity sales.

Despite a softer revenue figure of RM103.9 million for the second quarter compared to RM139.9 million last year, the decline was expected due to the completion of large-scale solar (LSS4) projects that were actively ongoing in the previous year. However, Solarvest has already begun new large-scale solar projects under the Corporate Green Power Programme, which are anticipated to significantly boost revenue in upcoming quarters.

Solarvest’s strategic diversification of its revenue streams has been a key factor in its sustained growth. By expanding recurring income through innovative green energy solutions, the company has solidified its position in the renewable energy market. Its core engineering, procurement, construction, and commissioning (EPCC) segment remains the primary driver of revenue, reflecting its expertise and leadership in delivering large-scale solar solutions.

The company’s ability to adapt to shifting market conditions, coupled with its focus on cost efficiency and innovation, has propelled its financial performance to new heights. Solarvest’s strong results serve as a testament to its strategic vision and its role in powering Malaysia’s transition to a greener future. #Solarvest #RenewableEnergy #GreenEnergy #SolarPower #Sustainability #CleanEnergy #Malaysia #CorporateGreenPower #SolarInnovation #EnergyTransition

The American Clean Power Association (ACP) has unveiled its inaugural Solar Market Monitor, projecting a groundbreaking 2024 for the US solar industry with over 32GW of installations anticipated. This milestone not only highlights the rapid expansion of solar energy in the United States but also underscores ACP’s commitment to delivering industry-specific insights into one of the fastest-growing renewable energy sectors.

The Solar Market Monitor, produced in collaboration with S&P Global Commodity Insights, offers a comprehensive analysis of the utility-scale solar industry, shedding light on current trends and future opportunities. This biannual report delves into critical areas such as capacity growth, project economics, technological advancements, policy impacts, and power market dynamics—creating a roadmap for understanding and navigating the evolving solar landscape.

According to the report, the US solar market is poised for sustained growth, with a Compound Annual Growth Rate (CAGR) of 6.6% projected from 2025 to 2030. By the end of the decade, annual installations are expected to climb to an impressive 37GW. A key driver of this growth is the continued decline in solar capital costs, forecast to drop by 14% by 2035, largely due to decreasing module prices. Overall, US solar installations are set to increase by 16% by 2030, cementing the sector’s role in the nation’s clean energy transition.

John Hensley, ACP’s Senior Vice President of Policy and Market Analysis, emphasized the significance of this report, stating: “The launch of the Solar Market Monitor represents the leading role ACP plays in providing unique insights and analysis for an ever-evolving solar industry, its growth, and policy and market challenges in the road ahead. This inaugural report highlights how solar has solidified itself as a clean and cost-competitive energy resource for the US. Moving forward, this resource will help the industry navigate the dynamic US solar marketplace.”

The collaboration between ACP and S&P Global Commodity Insights adds a new layer of depth to the analysis, leveraging cutting-edge data, such as S&P’s daily solar module price assessments. Eduard Sala, S&P’s Clean Energy Technology Lead, expressed enthusiasm for the partnership: “We are excited to announce S&P Global Commodity Insights’ collaboration with ACP as a clean energy technology knowledge partner. This relationship brings together S&P’s research and consulting teams to provide valuable integrated data and insights on the supply chain, technology, and demand. We are pleased to work with ACP to provide a new way of measuring the development of this growing sector.”

This report sets the stage for an exciting year in US solar, spotlighting its transformative potential as both a clean and cost-effective energy source. With decreasing costs, policy advancements, and continued innovation, the US solar industry is well-positioned to achieve unprecedented growth and play a critical role in the global shift toward renewable energy. #SolarEnergy #CleanPower #RenewableEnergy #ACPSolarMonitor #SolarGrowth #USRenewables #EnergyTransition #SustainableFuture #SolarInnovation #GreenEnergy

German Utility enviaM Group Takes On Ambitious 700MW Solar Projects

German utility enviaM Group has embarked on an impressive solar journey, undertaking projects with a total potential of more than 700MW in central Germany. This significant venture is a collaborative effort between enviaM subsidiary envia THERM and the ASG Group under the joint venture Ventura Holding. The goal of this partnership is to accelerate the expansion of renewable energies in the region, bolstering central Germany as a green business and industrial hub. Patrick Kather, enviaM Board Member for Production and Sales, emphasized the scale of the project, stating, “The solar parks under development have an output of more than 700MW. This is immensely big. In purely mathematical terms, this corresponds to the electricity requirements of 270,000 households per year. The project is one of the largest and most important initiatives in the enviaM group and drives the establishment of business and industry that rely on green energy.”

Thomas Kühnert, Managing Director of envia THERM GmbH, added, “In order to achieve the planned business growth with regional energy solutions, we want to significantly expand electricity generation from wind and solar power plants in the next few years. The cooperation and joint venture with the ASG Group is therefore an optimal complement to our activities in central Germany.” The solar projects are primarily located in Brandenburg, Saxony-Anhalt, and Saxony. The first building permit for a solar park with around 72MWp in southern Brandenburg is expected in 2024. Radenko Krpelj, Chief Executive of ASG Versum, expressed his enthusiasm, saying, “We are pleased to have found a regionally known, competent, and strong partner in envia THERM who values our skills in developing projects ready for construction. Both companies share the goal of making the energy supply in their shared home region sustainable.” The cooperation between envia THERM and the ASG Group, along with the associated transaction, was notarized and completed on August 1, 2024. Over the next few years, the planned systems will be built gradually as they become ready for construction, with the generated green electricity being used in conjunction with battery storage in regional energy solutions. #SolarPower #RenewableEnergy #GreenEnergy #SustainableFuture #CleanEnergy #CentralGermany #EnergyTransition #SolarProjects #GreenBusiness #EnvironmentalImpact

Prince of Wales Explores Renewable Energy Projects on Duchy of Cornwall Estate

The Prince of Wales is actively exploring opportunities to develop renewable energy and storage projects across the expansive Duchy of Cornwall estate. This initiative could transform over 52,000 hectares of private land, predominantly located in the southwest of England, into hubs for solar, onshore wind, and other renewable energy infrastructures as part of the estate’s commitment to achieving net zero emissions by 2032.

A Kensington Palace spokesperson shared with reNEWS: “Achieving a balance between financial results, protecting the natural environment, and supporting our communities has always been at the heart of the Duchy. We continue to investigate opportunities for the generation and storage of renewable energy across the estate.”

According to a report in The Observer, the Prince of Wales, who serves as the steward of the duchy in his role as the 25th Duke of Cornwall, has commissioned a comprehensive review of renewable energy options on the estate. This review includes potential for large-scale solar farms, geothermal projects, and onshore wind turbines. The findings of this study are expected to be reviewed by the Prince later this year, with officials eager to explore support for wind turbines—a notable shift from King Charles’ earlier stance against onshore wind during his tenure as Prince of Wales and Duke of Cornwall.

Despite the potential for significant renewable energy developments, it is unlikely that the entire duchy land will be opened to developers. Any new proposals will need to carefully consider landscape and visual impacts due to the estate’s location in some of the most picturesque parts of the southwest.

Alastair Martin, Secretary and Keeper of the Records at the Duchy of Cornwall, emphasized at a recent press briefing: “The issue with the Duchy of Cornwall estate is that it happens to be in some of the most beautiful parts of the southwest of England particularly, and there are always aesthetic considerations. And I’m sure those are not going to go away because we’ve got a new Duke.”

This proactive move by the Prince of Wales underscores a strong commitment to sustainability and the future of renewable energy, balancing ecological integrity with community support and financial viability.

#RenewableEnergy #Sustainability #PrinceofWales #DuchyofCornwall #NetZero #SolarPower #WindEnergy #Geothermal #CleanEnergy #EcoFriendly #GreenFuture