Global MobileTech: Solar-wind hybrid power in Asia
Global MobileTech, Inc (GLMB), a renewable energy company, has partnered with Malaysian company, Powernique Technology Sdn Bhd for managing and implementing solar-wind hybrid power generation. The power supply will be utilized in rural or remote island electrification and cell towers owned by GLMB in Asia.
“Our partnership with Powernique will enhance our ability to provide renewable energy, mobile Voice over Internet Protocol and mobile advertising services to a bigger consumer base not connected to grid electricity in Asia. Currently, more than 800 million people in Asia have no access to telecommunications services and energy, and nearly 1.8 billion people still rely on traditional biomass fuels to meet their cooking and heating needs (Source: Asian Development Bank).”
Aik Fun Chong, President and CEO of Global MobileTech, stated, “We believe that solar-wind power generation will be a major force in the future and this is a very opportune time for us to enter this developing segment of the renewable energy market. GLMB’s partnership with Powernique is a milestone towards both companies’ goal in delivering solar-wind hybrid power that is cost competitive with fossil fuel based energy.”
GLMB is currently in negotiations with multiple mobile operations and government agencies. The Company is working toward securing its first contract for the supply of solar-wind power generation solutions within the third quarter of 2010.
Global MobileTech, Inc is based in the U.S with operations in Malaysia. The Company focuses its attention on finding cost-effective solar-wind power generation technological solutions to assist its clients in improving energy efficiency. Powernique Technology is an engineering consulting company focused on renewable energy, particularly solar-wind hybrid generation.
Octopus Renewables buys Eclipse Power
The deal, which was completed with funds managed by Octopus, furthers Octopus’ involvement in the electricity distribution sector, having worked with Eclipse since 2018. It will allow Eclipse to continue the expansion of its team, while also investing in its systems, technology, and pipeline, with the ambition of making it one of UK’s leading IDNOs.
Eclipse has secured a portfolio of more than 10,000 connections across residential, industrial, commercial, battery storage and electric vehicle charging customers. Given the focus on electrification of heat, transport and industry in the UK, Eclipse is expected to play an important role in facilitating the UK’s energy transition.
Octopus Renewables is the largest investor of utility scale solar power in Europe, as well as a leading investor in onshore wind and biomass, managing a global portfolio valued at more than £3.5 billion. Institutional investor Nest partnered with the company in March.
Peter Dias, Investment Director, Octopus Renewables, said: “Having worked with Eclipse since 2018 and seeing their exciting growth, we’re thrilled to be able to make this acquisition and support the team to maintain this momentum.
“The acquisition of Eclipse is part of our strategy to identify and back great management teams that are supporting the energy transition. With ongoing support and investment, our investee businesses will have access to the expertise, business networks and financing to be able to scale faster and help contribute towards the UK’s net-zero goals.
“High-quality management of the distribution networks is going to be critical for the UK, and we are very pleased to be directly supporting the decarbonisation of heat, transport, and industry through this acquisition of Eclipse.”
Gary Gay, Managing Director, Eclipse, added Octopus shares a clear understanding of the important role that electricity distribution networks will play in the UK’s drive towards net-zero, and importance of a customer-focussed approach for building future smart distribution networks.
“With that, we are excited to now be part of the Octopus Group, with this investment helping us to reach the next stage of our growth journey and contribute to a greener, more efficient electricity network in the UK.”
Global renewables updates
ReNew Power recently won a 200MW/ac Interstate Transmission System (ISTS) solar generation project in an auction conducted by the Maharashtra State Electricity Distribution Company. ReNew Power expects to sign a 25-Year Power Purchase Agreement with the utility by the third fiscal quarter of 2022 to supply clean energy to Maharashtra at a tariff of Rs 2.43/ kWh (~US$0.033).
Natel Energy, a supplier of sustainable hydropower solutions, has announced a $20M funding round led by Breakthrough Energy Ventures and supported by Chevron Technology Ventures.
The company will use the funding to deploy its Restoration Hydro Turbine (RHT), which enables cost-effective production of distributed reliable renewable energy.
Duke Energy Florida plans to invest an estimated $1 billion in 10 new solar power plants across Florida, including the construction of four new sites, which will begin in early 2022 and will take approximately 9 to 12 months to complete. Construction of all 10 sites is projected to be finished by late 2024.
LG Electronics has made public its commitment to transition completely to renewable energy by 2050 as a key component of its sustainability strategy.