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Jeff Peron
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Singapore May 16, 2014

The Blue Circle, a vertically integrated renewable energy developer operating in the Mekong Region (Vietnam, Thailand and Cambodia), announced the signing of a partnership with Armstrong Asset Management on May 15th 2014.

Armstrong Asset Management, based in Singapore, is the largest renewable private equity investor of Southeast Asia, managing US$164 million for institutions like International Finance Corp. (part of the World Bank Group), as well as European development banks like Proparco (part of French AFD), DEG, GEEREF and FMO (Netherlands development Finance Company) besides private equity investors. Armstrong team brings across sectors investment experience and an unmatched Southeast Asia operating experience.

- See more at: http://www.thebluecircle.sg/news/2014/5/12/the-blue-circle-enters-into-partnership-with-armstrong-asset-management
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French leading Renewable Entrepreneur Olivier Duguet is teaming with Southeast Asia Alternative Energy Specialist Jeff Peron to launch The Blue Circle. Headquartered in Singapore, with presence in Ho Chi Minh City and Phnom Penh, the new company aims at becoming a leading Independent Power Producer in the Greater Mekong River region. The Blue Circle is targeting to develop and invest in renewable energy projects in Vietnam, Cambodia, Laos, Thailand and Myanmar.

See more at: http://www.thebluecircle.sg/news/2013/11/6/the-next-generation-of-renewable-energy-producers#sthash.9t5LVjoO.dpuf
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The domestically-owned Cong Ly Company has received support from the Ministry of Industry and Trade to sell electricity from its Bac Lieu wind power project at a price higher than regulated by the government.

The Ministry of Industry and Trade (MoIT), in a document sent to the prime minister late July which has been seen by VIR, proposed that the power tariff at the Bac Lieu project should be set at 11.5 US cents for 1 kilowatt per hour during the first ten years and 9.8 US cents during the four following years. From the fifteenth year of the project, the power tariff should be at 6.8 US cents.

- See more at: https://green-asia.squarespace.com/news/2013/8/27/vietnamese-project-gets-higher-tariff-than-regulated-fit#sthash.3nzXbdf3.dpuf
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Clenergy also completed its first project in Veitnam supplying PV-ezRack SolarTerrace III mounting systems for 432 solar panels, for a 100KW project near Ho Chi Minh City.

Robert Vose, Clenergy’s Asia-Pacific business development manager, said the Vietnam project “sets the stage for Clenergy’s active operations in Vietnam and in South Asia”.

Clenergy is currently in the process of opening a branch office for the Asia-Pacific region

Clenergy also worked on trapezoidal sheet roof projects of 15MW for an energy company’s factories in Tianjing, Hengshui and Haikou, China, as well as a 12MW project in Baoding for a Chinese motor factory.

- See more at: http://www.green-asia.com/news/2013/8/6/clenergy-completes-100kw-solar-project-in-vietnam#sthash.WArc3lYV.dpuf
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As one of the fastest growing economies in the region, Vietnam has seen its electricity demand grow by 15% per year during the last decade, and is expected to see an average annual growth between 11% and 16% until 2020. Such growth is supported by increasing urbanization and a young population, with a large workforce able to offer an alternative to Chinese manufacturers with increasing labor costs.

WIND AND SOLAR OPPORTUNITIES IN VIETNAM
The country already has a large proportion of its electricity mix produced by renewables. Hydropower represents 40% of Vietnam’s total installed capacity, while the installed capacity of non-hydro renewables (e.g. wind and solar) is still negligible, and as yet is limited to a handful of utility scale projects. Investment in electricity generating assets is currently not keeping pace with the increasing electricity demand. As a result, diesel-based generators are often used in cities and factories subject to blackouts and load shedding, especially during peak hours and the dry season when water levels are low. According to EVN, power shortages may reach over 9 billion kWh in the 21 southern provinces during the 2013 dry season.

- See more at: http://www.green-asia.com/publications/2013/7/24/wind-and-solar-opportunities-in-vietnam
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HCM CITY (VNS)— Investors viewing Viet Nam's investment environment favourably has increased over the last six months, according to a bi-annual survey on the nation's private equity outlook done by Grant Thornton Vietnam.
The survey found 41 per cent of respondents saying they feel Viet Nam is a more attractive place to invest compared with other destinations, an increase of 14 per cent over the previous survey six months ago.
The financial distress in Europe and weakening of the US dollar are the main factors for private equity activities continuing to rise in Asia, especially Southeast Asia.
Hence the number of respondents who decided to increase their portfolio in Viet Nam has improved significantly from 29 per cent in Q4, 2011 to 45 per cent in Q2, 2013, although the country is still suffering from the economic downturn.
Healthcare and pharmaceutical industries have been the most favoured investment areas in the last three surveys.
High growth rates, demand for expertise as well as favorable demographics have created a significant opportunity for investors to invest in Viet Nam's healthcare sector, the survey found.
Education remains the second most attractive sector for survey participants with the same proportion as last year survey (39 per cent). It has been in the top rung for more than three years in succession.
Viet Nam is ranked fourth in terms of the most attractive market in the world for the retail sector, which has grown robustly in recent years.
The Government's approval for foreign investors to establish 100 per cent foreign-invested companies has made this sector highly attractive to investors.
The fourth most attractive sector, according to the survey, is real estate and property, which got 37 per cent of the respondents' votes.
Merger and Acquisition (M&A) deals in the real estate sector were forecast to increase in 2013. Many real estate developers facing financial difficulties were forced to transfer their projects, creating investment opportunities for buyers with long-term strategies.
The largest investment in the sector last year was by Japan's Tokyu Group with a total capital of US$1.2 billion.
On investment obstacles, 82 per cent of the respondents considered corruption and government red tape as problems when investing in Viet Nam, with the latter component showing an increase of 10 per cent since the previous survey.
Current difficulties and challenges in the economy means PE investors are becoming more prudent in their investment strategy and focusing on long term growth opportunities, the survey found.
Transparency in business activities emerged as the second most important factor in making investment decisions. This factor has always been in the list of the top three most important factors to consider when investing in Viet Nam, the survey report said.
The third most important factor was cash flow, the life blood of every business.
Others factors included corporate governance and the skill as well as experience of existing management. — VNS
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HANOI, May 30 (Xinhua) -- Vietnam's second wind-power project in southern Bac Lieuprovince was connected to the national electricity grid, local media reported onThursday.

Specifically, after nearly three years of construction, work on Phase 1 of the Bac Lieuwind-power project, the first one of this kind in the Mekong Delta, with installation of 10turbines totaling 16 MW was completed, according to local Vietnam News.
The project will have 62 turbines, provided by American General Electric (GE), with acapacity of 1.6 megawatts each. They will generate 320 million kWh per year. All theturbines with total output of 99.2 MW are expected to be operational in June 2014.

Bac Lieu-based Cong Ly Construction and Trading Co Ltd. will invest 247.5 million U.S.dollars in the project located in Bac Lieu city. Capital for the project is sourced fromloans provided by the U.S. Import and Export Bank.

Vietnam's first wind-power project was built in central Binh Thuan province with a totalcapital of 70 million U.S. dollars. It has been operational since April 2012 with an outputof about 90 million kWh.
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MANILA, June 3 (UPI) -- The Philippines government has released guidelines for renewable energy projects to be considered for feed-in-tariffs as part of the country's target to triple renewable energy capacity by 2030 to at least 15,000 megawatts of installed capacity.

The Department of Energy's long-awaited policy, the Philippine Daily Inquirer reported Monday, requires 80 percent of the facility be built before applying for the FIT, after which the FIT could still be denied.
While the Philippines' Energy Regulatory Commission approved the FIT rates last July, delays in the deployment of the scheme, critics said, risked discouraging investment in renewable energy.

Power generation in the Philippines is still dominated by coal, at 37 percent, and natural gas, at 30 percent, and the government continues to move forward with more coal-fired plants.

"Despite the passage of the Renewable Energy Law in 2008, the DOE has been approving coal-fired power plants left and right, further stalling the development and mainstreaming of renewable energy systems in the country," Greenpeace Climate and Energy Campaigner Anna Abad told Inter Press Service.

A January Greenpeace report, "Green is Gold," indicates that in addition to the country's 10 existing coal-fired plants, 23 more are in the pipeline, at least three of which are slated for urban areas.

Those plants, once operational, will "edge out any potential for renewable energy and ... lock the country into use of dirty energy for the next three to four decades," Abad says.

Meanwhile, of the country's population of 94 million people, 3 million households don't have access to electricity and power outages are frequent. Electricity demand is expected to grow by 4 percent annually through 2015, fueled by economic growth.

A Japanese External Trade Organization survey released in 2011 states Manila's electric rates were 23 cents per kilowatt-hour, even higher than Tokyo and Singapore's rates of about 20 cents per kilowatt-hour.

Geothermal and hydropower account for most of the Philippine's renewable energy. Solar power remains largely untapped, and there's just one 33-megawatt commercial wind farm near Bangui Bay in Ilocos Norte, managed by North Wind Power Development Corp.

But Mario Marasigan, who heads up renewable energy in the Philippine's Department of Energy said there are two solar projects, three wind firms and several hydropower plants now in the pipeline.

"While prices for fossil fuels and diesel will only escalate in the coming years, prices for renewable energy will be pegged at the same rate for the next 20 years," Marasigan said.
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