NEFIN Group Enters Singapore Aiming to Invest S$100 Million Over Next 5 Years | Taiwan News

The partnership with Tuas Power Supply is the first step in realizing the long-term commitment in Singapore. Other strategic partnerships are underway this year.

SINGAPORE – Media OutReach – 11 August 2022 – NEFIN Group (“NEFIN”), Asia’s leading Independent Green Power Producer (IPP), has officially launched its brand new APAC headquarters in the heart of downtown Singapore at MacDonald House in Dhoby Ghaut. Strongly driven by Singapore’s entrepreneurial spirit, August 8, 2022 marked a milestone for NEFIN since its inauguration in 2014.

Adding to the glamor of the day, NEFIN signed a Memorandum of Understanding (“MOU”) with Singapore’s largest energy retailer, Tuas Power Supply (“TPS”), which is the first of many binding partnerships that NEFIN will conclude with strategic partners in the remainder of 2022.

Singapore’s Deputy Prime Minister and Finance Minister, Mr. Lawrence Wong, announced the plan to achieve net-zero emissions by mid-century during Budget 2022. To enable the transition to a low-emission future of carbon tax, Singapore will increase carbon tax levels gradually from 2024. This will support Singapore’s journey to net zero emissions and ensure a greener and more sustainable living environment for future generations, while being economically competitive. into a low-carbon future. The government has committed to continue financially supporting companies’ decarbonisation efforts through existing programs such as the Resource Energy Efficiency Grant (REG(E)) and Energy Efficiency Fund (E2F). ), for companies undertaking energy efficiency and emissions reduction projects.

In line with this government push, NEFIN aims to invest a minimum of S$100 million in the Singapore market over the next 5 years. This MoU is set to become a major driver for the development of carbon neutral solutions in Singapore and reflects NEFIN’s goal to bring cutting-edge technical and financial solutions to Singapore.

“Our short-term goal is to establish meaningful partnerships with key players in the Singapore market who are strong advocates of carbon neutrality. Partnering with TPS takes our vision to the next level as TPS shares our missions and beliefs, which is the essential backbone towards building a unique synergy between the two expert teams,” said Mr. Glenn Lim, CEO of NEFIN. “This is in line with our goal of massive developments in the market for carbon neutral solutions in Singapore, a region we believe to be a strong player in terms of renewable energy solutions in APAC.”

“Tuas Power is a leading power generation company in Singapore and our retail arm, Tuas Power Supply, has the largest segment of the power contract market,” said Michael Wong, Chief Operating Officer. operation of Tuas Power. “We believe in helping our customers on their journey towards sustainability, and our collaboration with NEFIN will allow us to offer renewable energy solutions to our customers.”

“We believe in the long-term vision and strategy that NEFIN has put forward to benefit the industry and also the community as a whole. We recently announced our ACEN 2030 vision, which is our goal to reach 20 GW of energy by 2030. Our strong partnership with NEFIN will not only create opportunities to support others on their journey to reduce carbon emissions, but will also help each other achieve our own decarbonization ambitions,” said Patrice Clausse, Chief Operating Officer, ACEN International Group, NEFIN’s main group shareholder.In 2021, ACEN, together with the Ayala Group, announced its commitment to achieve net zero greenhouse gas emissions greenhouse by 2050. This will involve the early retirement of its remaining coal plant by 2040 and the transition of the company’s generation portfolio to 100% renewable energy by 20 25.

The MoU will last for 2 years, where the corporate framework will be defined for the installation and deployment of solar photovoltaic (PV) systems for customers in Singapore. NEFIN will be primarily responsible for the investment, development and operation of photovoltaic systems under the project, while Tuas Power Supply will be responsible for securing potential customers for solar energy.

Mr. Glenn Lim grew up in Singapore and was inspired by the entrepreneurial side of the founding Prime Minister, Mr. Lee Kuan Yew. It has taken a bold step to venture out of Singapore, drives innovation in its customer service offerings, and develops systems that can ensure the longevity of NEFIN and its partners’ businesses. In the same way that Singapore started as a start-up to become a major player on the global stage, NEFIN has grown from a start-up to a regional player in the renewable energy sector. Glenn and his team have realized the importance of returning to where the dream began and believe that moving the APAC headquarters to Singapore is an important step in NEFIN’s growth.

Many NEFIN partners including Tuas Power, Arup, Cyclect, Solarvest, Huawei, Sungrow, JA Solar, LONGi, Total IFM, Trina Solar, Quahe Woo & Palmer, Squire Patton Boggs, HSBC, SMBC, Standard Chartered, SP Group, Temasek Holdings, SUSI Partners and many more attended the Singapore regional office opening event on August 8, 2022. It was a big moment of celebration as some of them had traveled with NEFIN from the start. until now it is.

Hashtag: #NEFINGroup

About NEFIN Group

NEFIN is a premium Independent Green Power Producer (IPP) offering tailor-made carbon neutral technologies and financing solutions in Asia-Pacific. NEFIN, funded by ACEN Corp., has collectively installed more than 3,400 MW of utility, commercial and industrial scale renewable energy systems. ACEN is listed in the Philippines (PSE: ACEN) and is part of the Ayala Corporation, one of the largest conglomerates in the Philippines, founded by the Ayala family in 1834. With its regional and multidisciplinary team, NEFIN offers comprehensive and a suite of services to assess the ESG impact and commercial viability of projects through innovative technological approaches as part of its unified energy management platform.

With the mission of “Achieving Carbon Neutrality for You”, NEFIN is committed to global climate goals and aims to accelerate the decarbonization of our client portfolios. NEFIN believes that the future of the world is everyone’s responsibility and strives to redefine the energy frontiers towards a sustainable future. Please see NEFIN website Social media icon www.nefinco.com for more information and follow us on Social media icon https://www.linkedin.com/company/nefin/.

About Tuas Power

Tuas Power is a key multi-utility and energy solutions provider in Singapore, and is a member of the China Huaneng Group, one of the largest and most forward-looking power producers in China and the world. . We welcome innovation and strategic partnerships while embracing change sustainably.

Tuas Power has a licensed capacity of 2,670 MW and is one of the major power generation companies in Singapore. It has five combined cycle power plants and one steam power plant at its power station in the Tuas Industrial Region and develops efficient and environmentally friendly energy solutions through its retail arm. Tuas Power also provides utilities such as steam, high quality industrial water, demineralized water and sewage treatment services in Tembusu, Jurong Island. In April 2022, it added desalination capabilities to its business portfolio with the launch of the jointly developed Jurong Island Desalination Plant. Visit www.tuaspower.com.sg

About the Tuas Diet
Tuas Power Supply (TPS) is the electricity retail arm of Tuas Power Generation. A leading player in Singapore’s liberalized electricity market, TPS serves customers from a wide range of industries. TPS develops and provides various cost effective energy solutions to customers, to meet their energy needs.

About ACEN

ACEN is the listed energy platform of the Ayala group. The company has approximately 4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia, with a renewable energy share of 87%, one of the highest in the region.

ACEN’s aspiration is to be the largest listed renewable energy platform in Southeast Asia, with a goal of reaching 20 GW of renewable energy capacity by 2030. In 2021 , ACEN announced its commitment to achieve net zero greenhouse gas emissions by 2050. This will involve the early retirement of its remaining coal-fired plant by 2040 and transitioning the company’s generation portfolio 100% renewable energy by 2025. Social media icon www.acenrenewables.com

About Andrew Estofan

Check Also

Viet Nam experiences strong rebound, momentum remains strong

Andrea Coppola, World Bank (WB) Principal Country Economist and Program Manager for Equitable Growth, Finance …