KUALA LUMPUR, MALAYSIA / ACCESSWIRE / June 25, 2021 / Malaysia's GCG Asia Solar announced today that its winning bid for a solar farm project in the Philippines will break ground in August 2021. GCG Asia Solar CEO Mark Darren Yaw announced that the clean energy company is excited to finally get started after a delay, and proud to play a role in increasing its share of renewable energy for the Philippines energy mix.
"We are pleased to announce GCG Asia Solar's success together with Sun Guardian Capital in this new solar project. We are confident that our combined 15 year experience in the field will drive the success of the project," said Mark Darren Yaw, CEO of GCG Asia Solar. The project consists of a 100MW solar power plant located in Ilocos Norte, and will be jointly built by Philippines energy company Sun Guardian Capital.
Preparation for the bid for the solar project began in 2017 with the project scheduled to break ground in 2020. Subsequent to the pandemic, the project's launch was postponed and is now expected to start construction in 2021. GCG Asia Solar has solar farm projects lined up well into 2025, riding on the renewable energy boom in the South-East Asian region. GCG Asia Solar is currently bidding or in the process of launching bids for projects in Cambodia, Singapore, and Indonesia, according to GCG Asia Solar CEO Mark Darren Yaw.
These countries are the leading sustainable energy drivers in the region with Vietnam and Thailand taking the lion's share. Those two countries together with Malaysia and the Philippines represent a total of 84% of installed energy capacity in the region. "South-East Asia is one of the fastest-growing regions in the world in terms of electricity demand. We're seeing a rise of more than 6% annually over the past 20 years on average. So we feel we're in a good position in the Philippines. Although the pandemic has seen a dip in power demand, we see recovery on the horizon," said Managing Director of Sun Guardian Capital, Paolo Guzman.
Together, Sun Guardian Capital and GCG Asia Solar are not ruling out bidding for more projects in Malaysia and Philippines. Sizeable investments have been earmarked for the capital intensive developments.
GCG Asia Solar is a Malaysia-based electrical energy company that specializes in renewable energy. GCG Asia Solar consults on innovative approaches to design solar energy architecture and green energy solutions. They believe in sustainable growth for the planet by increasing the need for using solar power across Malaysia. Mark Darren Yaw mentioned that GCG Asia Solar has the best professionals in line to enhance the building of their solar power energy for clients and customers.
"In Malaysia, solar power is growing steadily and in a few years will be fully mainstream. Coal-fired power is still expanding in the region though, with around 20GW of new coal-fired plants under construction. So GCG Asia Solar is well-positioned as an alternative in this competing energy space. The more we save energy now, the more we can use it in the future. Everything we are doing now is about the future. This is why GCG Asia Solar prioritizes the needs to meet the excellence of using solar power," said GCG Asia Solar's Mark Darren Yaw.
"ASEAN countries recently set some targets to decarbonise our energy grid, which is a very positive step, and have also made commitments to improve the renewable energy capacity to be achieved by 2025. In this context, our partnership with GCG Asia Solar is in prime position to offer our expertise and capitalise on this momentum," said Managing Director of Sun Guardian Capital, Paolo Guzman.
GCG Asia Solar is a Malaysia-based renewable energy company that specializes in optimizing solar power.
Source: GCG Asia Solar
24/06/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.