Daily News Wrap-Up: Plug Power, SK Group to Build Hydrogen Ecosystem in Asian Markets

Extra Space Asia Partners installs two rooftop solar systems at its facilities in Singapore


Here are some noteworthy cleantech announcements of the day from around the world:

Plug Power and SK Group have completed capital investment worth $1.6 billion to partner in accelerating hydrogen as an alternative energy source in Asian markets. The two companies are set to form a joint venture company to build the hydrogen ecosystem in Korea and make inroads into Asian markets. The joint venture company is expected to establish a gigafactory in Korea by 2023 to produce fuel cells and electrolyzers to supply them in broader Asian markets.

Extra Space Asia has partnered with LYS Energy Group to install two rooftop solar systems at its facilities in Singapore. The commissioned solar system with a capacity of 322 kW at the Ang Mo Kio facility and 407.16 kW at the Eunos Link facility will offset around 371 tons of carbon dioxide emissions annually for the next 20 years.

Wells Fargo Renewable Energy & Environmental Finance, a U.S.-based clean energy investor, has surpassed $10 billion in tax-equity investments in the wind, solar, and fuel cell industries. The company has invested in over 500 projects across 32 states, helping to finance 12% of all wind and solar energy capacity in the U.S. over the past decade. Wells Fargo provided around $2.4 billion in financing to the renewable energy industry in 2020, an increase of $1 billion from 2019.

Axpo, a Switzerland-based renewable energy company, said its Poland-based subsidiary Axpo Polska has signed a long-term energy services agreement with Green Investment Group (GIG) and Danone for ten years. Axpo Polska would provide balancing services for a GIG-owned wind project, while Axpo would supply the power to Danone. For this project, GIG has signed a 10-year baseload power purchase agreement with Danone. Axpo is expected to provide key services to supply generated power by the 25.3 MW wind project to Danone’s metering points in Poland.

Here is our previous daily news wrap-up.

Harsh Shukla is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.

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