The newly acquired portfolio includes 42 operational solar power plants distributed throughout Central and Southern Taiwan. These facilities possess a combined nameplate capacity of 187MW and are projected to produce approximately 270 million kWh of clean electricity annually. This output is estimated to support the energy needs of roughly 80,000 Taiwanese households, with the assets maintaining a remaining operational lifespan exceeding 15 years. By integrating these facilities, J&V Energy intends to solidify its standing as a prominent independent power producer.

This solar acquisition serves to enhance the supply capabilities of GREENET, the group’s green electricity retail subsidiary. According to Jerome Tan, Group Chief Investment Officer of J&V Energy, the addition of these assets aligns with a broader strategy to develop a high-quality portfolio that features stable, long-dated, and fully contracted cashflows. The company views this as an opportunity to leverage its internal expertise in asset management, operations, and offtake solutions to drive further value. Furthermore, Kai Tan, Deputy CEO of J&V Energy, noted that the initiative directly addresses the increasing demand from local corporations particularly those within the semiconductor, electronics, and ICT sectors for reliable, large-scale green electricity to meet net-zero commitments. Following the finalization of the deal in 2026, the plants will be fully incorporated into the firm’s existing electricity retail and management platforms.

New Capacity Targets and Tender Framework

The EMA has issued a request for proposals inviting private sector participation to develop one combined cycle gas turbine plant of at least 600MW capacity by 2031, with the option to build up to two additional plants by early 2032. Each facility under the hydrogen-ready power plants programme must be capable of operating with at least 30% hydrogen by volume and meet strict emissions thresholds of 0.355 metric tons of CO2-equivalent per MWh at a 75% load factor.

Proposals for the 2031 plant are due by June 24, 2026, while submissions for the 2032 projects are expected by September 30. The EMA has also mandated that bidders demonstrate financial capability, with no revenue support mechanisms provided under the tender.

Key Project Specifications

• Minimum capacity requirement: 600MW per plant
• Hydrogen compatibility: At least 30% hydrogen blending capability
• Emissions intensity cap: 0.355 tCO2e/MWh
• Operational timelines: One plant by 2031; up to two by 2032
• Submission deadlines: June 24, 2026 (2031 plant), September 30, 2026 (2032 plants)

Demand Growth and Capacity Planning

Singapore’s electricity demand is projected to grow at a compound annual rate of 2.4% to 4.8% over the next decade, driven largely by energy-intensive industries such as semiconductors and data centres. Peak demand is expected to rise from around 8GW in 2025 to between 9.6GW and 11.4GW by 2031.

According to EMA projections, the reserve margin could fall below the required 27% threshold from 2031 onward without additional generation capacity. This underlines the urgency of commissioning new power plants to maintain system reliability and prevent supply constraints.

Role of Natural Gas in Transition Strategy

Despite ongoing investments in solar, electricity imports, and exploration of nuclear energy, natural gas continues to play a central role in Singapore’s energy mix. In the first half of 2025, approximately 93% of the country’s electricity was generated using natural gas.

The EMA has emphasised that gas-fired plants remain essential for delivering stable baseload power, particularly as intermittent renewable sources scale up. The integration of hydrogen capability into these plants is intended to future-proof assets as hydrogen becomes commercially viable.

Power Info Today notes that embedding hydrogen compatibility at the design stage allows infrastructure developers to avoid costly retrofits while aligning with evolving emissions standards and fuel transition pathways.

Integration with Existing and Planned Infrastructure

By 2032, Singapore is expected to operate at least 11 hydrogen-ready natural gas power plants, including four completed in 2025 and two additional 600MW facilities scheduled for launch in 2026 by Keppel and Sembcorp.

The current fleet of 31 power plants is further supported by fast-start backup units, including installations by PacificLight Power and EMA subsidiary Meranti Power, designed to respond rapidly to supply shortfalls.

Policy and Market Implications

The initiative builds on a centralised planning framework introduced in 2023, under which the EMA forecasts electricity demand on a rolling 10-year basis and initiates capacity tenders when supply gaps are identified. This approach aims to prevent both under- and over-investment in generation infrastructure.

Additionally, Singapore’s solar capacity reached 2,093MW in 2025, with a national target of 3GW by 2030. However, due to intermittency, solar is expected to contribute around 600MW of effective capacity, reinforcing the continued need for dispatchable gas-fired generation.

From a market perspective, the absence of revenue guarantees signals a competitive procurement model that prioritises financially robust developers capable of delivering large-scale, low-emission infrastructure.

Strategic Outlook for Power Generation

EMA chief executive Puah Kok Keong stated that the new plants will “underpin the stable baseload power needed to support our transition to a cleaner energy future.” The emphasis on hydrogen readiness positions Singapore to gradually integrate low-carbon fuels without compromising grid stability.

Power Info Today highlights that the move reflects a pragmatic balance between decarbonisation goals and operational reliability, particularly in a market where industrial demand continues to expand.

According to the tender framework, the selected lenders will provide the required debt financing, enabling the project’s development without direct equity strain. The initiative reflects a broader approach where central agencies coordinate funding pathways for renewable infrastructure. The Gujarat Solar Project is expected to benefit from this arrangement by securing structured financing, which remains a critical factor in large-scale solar deployment. The tender outlines clear eligibility criteria for banks and financial institutions, focusing on their ability to meet the project’s financial requirements and timelines.

The development highlights SECI’s continued role in aggregating demand and facilitating financing solutions for solar initiatives across India. By enabling competitive loan procurement, the agency aims to ensure cost-effective funding while maintaining transparency in the selection process. The Gujarat Solar Project, backed by this financing model, is positioned to contribute to the country’s renewable energy targets, reinforcing Gujarat’s role as a key solar hub. The tender mechanism also underscores the importance of financial structuring in accelerating project execution, particularly in capital-intensive sectors such as utility-scale solar power.

The facility represents an initial investment exceeding USD 95 million and currently supports more than 1,370 cabinets, with capacity planned to scale to over 5,475 cabinets at full build-out. Designed for resilience and efficiency, MB3 enables enterprises to connect with cloud providers, network operators, and ecosystem partners while supporting secure and scalable digital operations. Its architecture incorporates high-density configurations and energy-efficient systems, allowing enterprises to manage data-intensive applications and next-generation services effectively.

The Mumbai data center launch comes as India’s digital economy advances toward a projected USD 1 trillion milestone by 2027–2028. This growth is being fuelled by expanding digital services and public digital infrastructure such as Aadhaar, UPI, and ONDC. As AI transitions from experimental stages to large-scale deployment, enterprises face increasing challenges related to latency, data gravity, power density, and compliance with local data regulations. MB3 addresses these issues through deep interconnection capabilities, enabling organizations to position AI workloads closer to data sources, cloud platforms, and end users while ensuring regulatory compliance and operational performance.

Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, said, “We are pleased to welcome Equinix, a global leader, on the launch of its first self-built data center in Mumbai. With Maharashtra hosting nearly 60% of India’s data center capacity, the addition of the AI ready MB3 data center, along with Equinix’s solar plant in Yavatmal, further strengthens Mumbai’s position as the country’s premier digital hub. These investments reflect strong confidence in Maharashtra’s pro-investment policies and focus on sustainable, next-generation infrastructure. We look forward to expanding our partnership with Equinix.”

Equinix has committed over USD 365 million in cumulative investments across India, reinforcing its long-term outlook on the country’s digital infrastructure sector. Its Mumbai and Chennai campuses, interconnected through dedicated dark fiber, collectively deliver more than 4,725 cabinets of capacity, supporting redundancy and optimized traffic management nationwide. The company’s ecosystem includes over 300 organizations in India, ranging from network service providers to enterprises, along with multiple internet exchanges. The Mumbai data center integrates with Equinix’s broader infrastructure network, including its Chennai facility, CN1, enabling seamless access to cloud platforms such as Alibaba Cloud, AWS, Google Cloud, IBM Cloud, Oracle Cloud, and SFDC via Equinix Fabric®.

Anil Kumar Nair, Head of IT Infrastructure & Cyber Security, Kotak Securities, said, “India’s financial markets are moving faster than ever, and our infrastructure needs to keep pace. Low-latency connectivity, data sovereignty, and operational resilience are non-negotiable for us. Equinix’s MB3 strengthens a campus we already trust, and gives us the density, interconnection and cloud adjacency to support our next phase of AI-driven innovation, whether that’s real-time analytics, algorithmic trading infrastructure or next-generation client experiences.”

Cyrus Adaggra, President, Asia-Pacific, Equinix, said, “India continues to play a pivotal role in shaping Asia-Pacific’s digital future, and the opening of MB3 strengthens our ability to support customers as they navigate new growth driven by cloud adoption, AI innovation and increasing interconnection needs. With this expansion, organizations can now tap into greater capacity and a globally consistent platform, helping them accelerate transformation and unlock the full potential of India’s fast-growing digital ecosystem. Equinix remains firmly committed to investing in India and building the infrastructure that empowers our customers to thrive.”

Manoj Paul, Managing Director, India, Equinix, said, “India is at a pivotal stage in its digital transformation, with growing AI and cloud adoption and stricter data localization requirement that are shaping the next phase of economic growth. The Union Budget 2026 proposals, including a tax holiday for global cloud providers leveraging India-based data center infrastructure and the introduction of safe harbor provisions, are viewed as strong policy enablers that reinforce the country’s position as a trusted global digital hub. As enterprises embrace hybrid multicloud and prepare for AI inferencing at scale, seamless interconnection between businesses, network service providers and hyperscalers becomes essential. The launch of MB3 comes at exactly the right time, providing the ecosystems, interconnection density and scalable capacity needed to power India’s next wave of digital expansion.”

The facility operates with 100% renewable energy coverage, aligning with Equinix’s global sustainability targets for 2030. This includes integration with a 26.4 MWp solar project developed in partnership with CleanMax, expected to generate around 41.4 million kWh of clean energy annually while reducing carbon emissions by more than 30,000 tonnes. Globally, Equinix operates 280 data centers across 77 markets in 36 countries, including a strong Asia-Pacific presence spanning 64 facilities across key regional markets.

The Kazakhstan Atomic Energy Agency said the expansion reflects projections of rising consumption nationwide. It stated that “given the projected growth in electricity consumption, a project to build a fourth plant is envisaged, which will fully meet the growing needs of the economy and the population for reliable and environmentally-friendly energy”. In parallel, the agency noted that “options for constructing SMR-based nuclear power plants in suitable regions of the country will also be considered, taking into account technological and economic feasibility, as well as for replacing decommissioned coal-fired plants with equivalent nuclear capacity”.

The framework sets out national priorities for the peaceful use of nuclear energy and broader economic objectives. It defines “the goals, approaches and priority areas of state policy in the field of peaceful uses of nuclear energy”, while linking nuclear expansion to energy security and sustainability. According to the agency, “The document aims to ensure the country’s energy security and sustainable economic growth, fulfil international climate commitments, develop high-tech industries and strengthen Kazakhstan’s position in the global nuclear industry.” Key areas include the construction of new plants — including one potentially using small modular reactors — alongside advancements in nuclear science, waste management systems, safety infrastructure, workforce development, and the “rational use of uranium resources”. The agency added that “The implementation of the strategy will enable the formation of a modern and sustainable nuclear cluster in Kazakhstan, integrated into the global nuclear ecosystem.”

Kazakhstan enters this phase with prior nuclear experience despite not currently producing nuclear-generated electricity. As the world’s leading uranium producer, it operates three research reactors and previously ran a Russian-designed BN-350 sodium-cooled fast reactor near Aktau until 1999. Preparations for a nuclear programme have been underway for years, including the creation of Kazakhstan Nuclear Power Plant (KNPP) in 2014. Public support has also been evident, with more than 70% of 7.8 million voters backing nuclear development in a 2024 referendum. Initial projects are progressing, with Russia’s Rosatom selected in June last year to lead construction of the Balkhash plant in Ulken, while China National Nuclear Corporation is expected to develop additional plants in the same region. The Kazakhstan nuclear plan also aligns with the government’s target of achieving a 5% share of nuclear energy in the national power mix by 2035.

Authorities have outlined a series of interventions aimed at restoring order within the sector, including capacity control measures, clearer standard-setting, stricter price enforcement, and support for mergers and acquisitions. Intellectual property protection has also been identified as a key priority, with officials stating that these steps are intended “to promote the high-quality development of the photovoltaic industry.” The proposals follow a meeting involving China’s Ministry of Industry and Information Technology, the National Development and Reform Commission, and industry stakeholders such as the China Photovoltaic Industry Association, alongside major state-owned energy buyers including China Huaneng Group and China Datang Corp.

China’s manufacturing scale continues to dominate globally, producing more than 80% of solar panel components, according to the International Energy Agency. However, this scale has contributed to a mismatch between supply and demand, fuelling a prolonged domestic price war. Authorities have referred to this dynamic as “involution,” highlighting the impact of excessive competition on industry returns. The solar industry now faces the dual challenge of managing surplus capacity while maintaining competitiveness in an evolving global market.

External pressures have added to the urgency of reforms. Key export destinations are increasingly adopting protective measures, with the United States imposing tariffs on Chinese solar products and the European Union seeking to diversify its sourcing strategies. In response, China has launched an “anti-involution” campaign aimed at reducing excess production and curbing disorderly pricing practices, reinforcing efforts to bring greater stability and discipline to the solar industry.

The proposed GAIL solar project is part of a broader shift within the organisation to align with India’s long-term energy transition goals. By entering large-scale solar generation, the company is positioning itself within the country’s rapidly evolving renewable ecosystem, where demand for sustainable power sources continues to rise. The project is expected to contribute meaningfully to Uttar Pradesh’s power supply while supporting the state’s renewable capacity growth.

Officials associated with the development indicated that the project will be implemented using established solar technologies, ensuring operational efficiency and long-term viability. The GAIL solar project is also expected to strengthen grid stability in the region, particularly as electricity demand continues to expand across industrial and residential segments. The investment reflects a wider trend among public sector enterprises to diversify into renewables as policy frameworks increasingly prioritise clean energy deployment.

In addition to enhancing generation capacity, the project underscores GAIL’s evolving business model as it adapts to shifting regulatory and environmental expectations. The company has been gradually expanding its presence beyond natural gas into renewable energy, and this latest initiative reinforces its commitment to sustainability-led growth. As India accelerates its push toward decarbonisation, projects of this scale are likely to play a crucial role in reshaping the national energy mix.

The new entity is designed to streamline the development, construction, ownership and operation of solar, wind, and battery storage assets. By pooling capital resources and technical expertise, the JV deal partners intend to accelerate deployment and strengthen their competitive position across high-growth markets. Upon completion, the platform will act as the exclusive vehicle for both companies’ onshore renewable energy activities in the region. The venture will include 3GW of operational assets alongside an additional 6GW of projects currently in advanced stages, with commissioning targeted by 2030.

Commenting on the agreement, Masdar CEO Mohamed Jameel Al Ramahi said: “This joint venture reinforces Abu Dhabi’s status as a global center for energy leadership, combining the expertise of Masdar and TotalEnergies to drive renewable energy deployment across Asia. For Masdar, this JV strengthens and diversifies our portfolio, unlocking new opportunities in attractive, high-growth markets, while bringing in a like-minded partner to accelerate growth and deliver additional value in our existing markets.” Both partners will contribute assets of comparable value to the venture, ensuring balance in ownership and operational input.

The headquarters of the joint venture will be located within Abu Dhabi Global Market, with a workforce of approximately 200 employees drawn from both organisations. The agreement remains subject to regulatory clearances and customary closing conditions. Patrick Pouyanné, chairman and CEO of TotalEnergies, stated: “We are delighted with the signing of this agreement with Masdar, which brings together two major renewable players to build a renewable champion in Asia. It will allow us to combine the strengths of our two companies to secure significant positions in these markets and create more value than if we were acting alone. This agreement is fully in line with the renewable energy strategy of our Integrated Power business. We are also pleased to further deepen, in this area, the long-standing relationship between the United Arab Emirates and TotalEnergies.”

Key Announcements and Strategic Milestones

A historic milestone was recorded on June 15, 2025, when Nepal began exporting 40 MW of electricity to Bangladesh through India’s transmission network. This tripartite framework established the first operational cross-border electricity commerce beyond simple bilateral deals in South Asia. In addition to this, Bhutan has recently commissioned the 1,020 MW Punatsangchhu-II hydroelectric project and its first large-scale 22.38 MW Sephu solar plant, signaling a move toward a more diversified renewable portfolio.

Meanwhile, India’s Central Electricity Authority (CEA) has outlined a massive grid expansion plan to support a peak demand projected to reach 459 GW by 2035-36. This roadmap introduces operational measures such as Solar Hour and Non-Solar Hour concepts to optimize the use of existing transmission lines for wind and battery storage during low-solar periods.

Investments and Financial Frameworks

The scale of the regional clean energy transition requires unprecedented capital mobilization. India’s transmission roadmap alone proposes the addition of 137,500 circuit kilometers of lines at an estimated cost of nearly ₹7,93,300 crore. Bangladesh’s draft Energy and Power Sector Master Plan (EPSMP) 2026-2050 estimates a requirement of $107.4 billion for the electricity sector and up to $85 billion for primary energy.

In Pakistan, the people-led solar revolution has already demonstrated significant fiscal impact, helping the country avoid approximately $12 billion in oil and gas imports as of February 2026. Furthermore, the Asian Development Bank (ADB) has remained a critical financier, with $20.54 billion cumulatively invested in 86 projects across the subregion as of December 2023.

Policy and Regulatory Shifts

Nations are introducing market-oriented reforms to attract private participation. Pakistan has launched the Competitive Trading Bilateral Contract Market (CTBCM) to move away from a single-buyer model toward a competitive structure where generators and large consumers negotiate directly. Similarly, Sri Lanka has enacted amendments to the Electricity Act to unbundle the Ceylon Electricity Board (CEB) into separate state-owned enterprises for generation, transmission, and distribution.

India has notified a long-term trajectory for Energy Storage Obligations (ESO), which will increase to 4% by FY 2029-30, requiring that at least 85% of stored energy be procured from renewable sources. From an industry standpoint, Power Info Today believes these regulatory frameworks are being structured to support the management of intermittency associated with large-scale non-fossil capacity deployment.

Operational Impact and Technology Deployment

The operational focus has shifted to grid stability and high-voltage transfer. India is implementing 1150 kV AC transmission systems to carry large volumes of electricity from renewable-rich states like Rajasthan and Gujarat to industrial hubs. In the battery energy storage system (BESS) sector, battery prices have dropped 65% since 2021, making co-located solar-plus-storage systems cheaper than new thermal plants in many contexts.

Nepal’s performance in the first five months of FY 2025/26 underscores the operational success of regional trade, with the country earning Rs. 18.26 billion from power sales to India and Bangladesh. However, analysts warn that Pakistan’s rapid 5 GW rooftop solar surge is creating revenue erosion for distribution companies, highlighting the need for urgent grid modernization and tariff restructuring.

Market and Strategic Relevance

The regional energy landscape is now defined by the necessity of decoupling growth from volatile fossil fuel imports. While fossil fuels still account for roughly 69.99% of South Asia’s primary energy mix, the non-fossil capacity is outpacing fossil growth. India reached a historic milestone in July 2025, where renewable generation met 51.5% of the country’s total daily electricity demand. As the war in Iran continues to threaten global trade routes, the push for an integrated South Asian grid connecting the hydropower of the Himalayas with the solar-rich plains of India and the coastal wind potential of Sri Lanka has transitioned from a developmental goal to a matter of regional energy security.

Power Info Today observes that the growing emphasis on cross-border electricity trade, grid expansion, and storage integration reflects a broader alignment of regional energy systems with evolving security and supply stability priorities.

Project proposals will be assessed through a structured scoring framework, where developer track record and execution capability each contribute 35% to the total evaluation, while financial strength accounts for the remaining 30%. The criteria continue to prioritise demonstrated delivery capability and engagement with local industry stakeholders. To qualify, submissions must secure a minimum of 70 points out of 100, and each developer may be awarded up to 1GW of capacity.

Additional policy measures have been incorporated to accelerate project timelines. Developers achieving early grid connection or delivering defined benefits to domestic industry will be eligible for extended electricity sales beyond the standard 20-year period. Power generated from awarded projects is expected to be sold primarily through corporate power purchase agreements (PPAs), complemented by a minimum price mechanism for excess generation, capped at the avoided cost set by Taiwan Power. A floor price of T$2.29/kWh has also been established to support financing structures and mitigate development risks.

While industry participants have broadly endorsed the inclusion of environmental, social and governance assessment elements, stakeholders continue to call for clearer implementation guidelines. Separately, in December 2025, the MOEA approved a Taipower assessment indicating that restarting the Kuosheng nuclear power plant in New Taipei and the Maanshan plant in Pingtung County is feasible, while concluding that the Chinshan nuclear power plant cannot be restarted.