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World Bank backs Indonesia's $2.128bn clean energy push
World Bank backs Indonesia's $2.128bn clean energy push
Singapore, 17 June (Argus) — The World Bank has approved a $2.128bn blended finance package for Indonesia to support its financial sector reforms and accelerate investment in clean energy, it announced on 16 June. Indonesia will channel $1.5bn of the package into strengthening its financial services sector by expanding the use of digital financial tools and removing credit infrastructure constraints. It will also help remove obstacles in obtaining renewable energy technologies by reducing local content requirements. The remaining $628mn in funding — comprising a $600mn loan from the International Bank for Reconstruction and Development (IBRD), $12mn from the IBRD surplus-funded liveable planet fund, and $16mn from partners under the Sustainable Renewables Risk Mitigation Initiative — is aimed at enabling greater energy access. This blended finance programme aims to generate 540MW of solar and wind power. It is also expected to reduce power generation costs by 8pc and cut greenhouse gas emissions by 10pc, particularly in Kalimantan and Sumatra, the World Bank said. This energy programme is the first to use the World Bank's step-up loan product, which has a repayment scheme designed to attract long-term private investments, with incentives including lower interest rates during the implementation phase and further reductions if projects are refinanced after completion. By Haridas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EEX seeks daily Nordic power trades from 25 players
EEX seeks daily Nordic power trades from 25 players
London, 16 June (Argus) — German exchange EEX believes its liquidity drive can be considered successful if around 25 participants initially close daily trades for the system and some zonal futures, sales director Tim Greenwood told Argus . The exchange has long highlighted its ambition to increase liquidity, and has now introduced specific measures to address this along with an indication of what higher liquidity would entail. EEX last week launched a package of measures to encourage activity on its Nordic offering, which covers system and zonal futures for the 12 Nordic zones. The package includes a year-long trade fee waiver scheme and clearing cost cover. The scheme is based on past successes in stimulating activity in similarly illiquid or mostly over-the-counter markets, such as Spain, Greenwood said, and will be complemented by a focus on local engagement with stakeholders. The initiative follows dramatically lower trading across its Nordic book on the year, with liquidity down by 99pc on the year in January and by 92pc in February. By delivering on its ambition to bring 25 participants onto the exchange, then rising to around 40, the exchange hopes it can demonstrate to the market it and liquidity are moving forward, so the conversation regionally can change from "what can we do" about liquidity to "how are we progressing", Greenwood said. The Nordics are primarily dominated by the state-owned utility in each country, particularly in Sweden and Norway, Sweden's Vattenfall and Norway's Statkraft. EEX is confident these participants would welcome a market that is "seven or eight times" the size it is today and that, ultimately, "the big fish go where the small fish go." EEX also hopes to demonstrate to the market its zonal futures are a tool in and of themselves for re-energising Nordic liquidity by allowing firms to trade while recognising the increasingly divergent fundamentals between zones. The Nordic system price, by papering over this divergence, has "a lot to do" with the regional liquidity decline, Greenwood said, adding the price "is not reflecting the underlying needs" of traders. The system price is part of a broader regional issue, Greenwood said, acknowledging that while participants in most other markets consider fundamentals on a market-by-market basis, the system price leads people to consider the Nordics as a whole. That is despite the Nordics comprising "different countries, with different fundamentals" and that the "ideal situation would be to focus on the different markets". EEX highlighted the system price issue by emphasising that its Danish zonal futures and their higher liquidity are representative of the problem, noting that Denmark's fundamentals and price alignment are more correlated with neighbouring Germany than the other Nordic countries. The German exchange also reaffirmed that it welcomes the competition offered by the incumbent Nord Pool-owned Nasdaq exchange, noting that until EEX's entrance, the region had "the dominance of one exchange and [liquidity] has gone down", rebutting some fears that two exchanges could further split the already low liquidity, Greenwood said. He added changes to Nasdaq clearing rules, as they come fully under the Nord Pool umbrella, provide a "bit of a wake-up [call]" to participants and a good opportunity to take advantage of EEX's "good coverage of clearing banks and cross margining", Greenwood said. By Daniel Craig Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Japan’s Erex lifts biomass-fired power output in May
Japan’s Erex lifts biomass-fired power output in May
Tokyo, 16 June (Argus) — Japanese renewable energy developer Erex's biomass-fired power generation in May rose from a year earlier, according to data published by the company on 13 June. Erex's combined electricity output from the 50MW Saiki, the 75MW Buzen, and the 49MW Nakagusuku biomass-fired power plants in May increased by 2pc on the year to 98GWh. The company does not disclose the output of the 75MW Ofunato plant. Erex's biomass-fired power generation capacity in May was 249MW, including the Ofunato plant, with the firm burning mainly imported wood pellets and palm kernel shells (PKS). The Buzen plant was halted from 1-6 June because of regular maintenance. The 20MW Tosa plant has been shut down for an indefinite period because of aging facilities, according to the company. Erex started commercial operations at the 75MW Sakaide biomass-fired power plant on 2 June. The company plans to start up the 300MW Niigata Mega Bio around 2029-30. Erex's 20MW Hau Giang biomass-fired power facility in Vietnam came on line in April, with the plant burning rice husks. The company aims to build up to 18 biomass plants in the country, following Hau Giang. Erex also plans to start constructing a 50MW biomass plant in Cambodia in this year. By Takeshi Maeda Erex's Biomass-fired Generations in May 2025 Capacity(MW) Generation(GWh) Start of Operations Saiki 50 30 Nov-16 Buzen 75 36 Jan-20 Nakagusuku 49 32 Jul-21 Ofunato 75 - Jan-20 Total 249 98 Source: Erex Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Singapore, Indonesia sign clean energy, CCS deals
Singapore, Indonesia sign clean energy, CCS deals
Singapore, 16 June (Argus) — Singapore and Indonesia signed three new agreements on 13 June covering cross-border electricity trade, collaboration on carbon capture and storage (CCS), and setting up a joint sustainable industrial zone (SIZ). The first deal on cross-border electricity trade builds on previous agreements between the two countries, and reinforces Singapore's target to import around 6GW of low-carbon electricity by 2035 and Indonesia's goal to export 3.4GW of low-carbon power by the same year. Singapore and Indonesia will facilitate the necessary policies, regulatory frameworks and business arrangements for cross-border electricity trade within 12 months, Singapore's trade and industry ministry said. Under the second agreement on CCS, the countries will work towards a framework that would enable cross-border CCS to leverage Indonesia's abundant carbon storage potential — something Singapore lacks. Indonesia previously announced a CCS project in collaboration with BP in Papua Barat province, which aims to capture around 15mn t of CO2. And it has signed a $15bn agreement with ExxonMobil to sequester 3mn t/yr of CO2. The third new agreement supports the development of green industrial areas in Indonesia's Bintan, Batam and Karimun region — known collectively as BBK. The SIZ will incorporate low-carbon energy and battery storage, according to Indonesian energy ministry ESDM. The Singapore and Indonesia governments will invest more than $10bn in developing a solar panel supply chain, patent CCS technologies and pioneer green industrial areas, the ESDM said. By Haridas Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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