THE BLUE CIRCLE SIGNS AN MOU WITH THE ROYAL GROUP TO DEVELOP THE FIRST WIND PROJECT OF CAMBODIA

PRIME MINISTER HUN MANET VISIT  

The MOU has been signed in front of the Prime Minister of Cambodia during his official visit to France on January 15th

100MW WIND PROWER PROJECT

The Blue Circle and the Royal Group agreed to collaborate in developing the first wind project of Cambodia with a capacity of 100 MW in the Eastern province of Mondulkiri

PARIS, JANUARY 17, 2024. THE BLUE CIRCLE, pioneer and leading renewable energy developer and operator in Southeast Asia, has signed a Memorandum of Understanding with the ROYAL GROUP to develop, finance, build, own and operate a 100 MW wind project in Cambodia. The project, located in the Eastern province of Mondulkiri, about 280 km from Phnom Penh, has been measuring the wind since 2019 with a 120-meter met mast and various SPIDAR equipment. The average wind speed recorded places the site, selected by The Blue Circle, has one of the top wind sites in Cambodia and in all of Southeast Asia.

The particular wind pattern of this part of the lower Mekong region would drive potential power production mainly during the dry season, from November to April. This seasonal monsoon particularity would supplement ideally hydro power production which represents more than 45% of the energy mix of Cambodia and is providing power mainly during the wet season, from May to October.

The entry of the ROYAL Group as a partner of The Blue Circle on this development, strengthens its prospects to become the first wind project of the country. The ROYAL Group is currently operating the 400MW Lower Sesan 2 hydro power plant and is planning to expand further in renewable energy. On March 15th 2023, the ROYAL Group signed a Power Purchase Agreement with Keppel Energy to sell low-carbon power to Singapore by 2035 via a subsea cable from Cambodia.

With this partnership, The Blue Circle and ROYAL Group will contribute to the 2050 Carbon Neutral target set by the Ministry of Environment for the kingdom in 2022. Adding wind energy to the energy mix of Cambodia will not only lower the cost and the price volatility of supply sources to Electricité du Cambodge, the national Utility, but also reinforce the energy independence of the country with produced power locally.

Royal Group

ROYAL Group, founded in 1991 and led by Oknha Kith Meng, is the largest conglomerate of Cambodia, with activities in Banking & Finance, Telecommunications, Technology, Media, Hospitality, Property & real Estate, Energy, Railways and Education.

The Blue Circle

Founded in 2013, The Blue Circle identifies, develops, finances, owns, and operates renewable energy projects in the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable wind and solar energy projects. With offices in Singapore, Ho Chi Minh City, Bangkok, Manila and Phnom Penh, The Blue Circle is the leading renewable energy company in Southeast Asia.

For more information please contact:
Amaury Brucker (The Blue Circle)
amaury.brucker@thebluecircle.sg +63 915 182 7899

POWER Formed to Help Advance Offshore Wind Energy in the Philippines

Taguig City, Philippines – 13 December 2023 – Pilipinas Offshore Wind Energy Resource, Inc. (POWER), a Philippine-based offshore wind industry organization formed by developers, from global and local markets, was launched at a press event at the Philippine National Oil Corporation (PNOC) Executive Lounge at the Energy Center in BGC, Taguig. The association is formed to provide expertise and technical resource to accelerate the clean energy transition by leveraging on offshore wind power.

Touted as the newest alternative to deliver renewable energy, offshore wind is an energy and climate solution that can help solve the ongoing power crisis and drive economic growth and promote energy security. Offshore wind represents a unique opportunity to build a new clean energy industry and create a durable economic alternative to fossil fuel dependency.

Sharing the same vision to unlock the full potential of offshore wind technology, POWER is formed by the following energy companies – ACEN Corporation (ACEN), The Blue Circle (TBC), BlueFloat Energy (BlueFloat), Citicore Renewable Energy Corp. (Citicore), Ignis ZA Global (Ignis) and Marubeni Asian Power Philippines Corporation (Marubeni).

The Philippine offshore wind roadmap released in April 2022 by the Department of Energy and the World Bank Group, estimated that the Philippines has the potential to install 21GW in the high growth potential offshore wind power by 2040.

The Philippines, known for its abundant natural resources and favorable coastal conditions, is well-positioned to harness the power of offshore wind. The country’s total technical potential for offshore wind is estimated at 178 GW in the World Bank’s offshore wind roadmap for the Philippines. Large areas around the country’s coast have technically extractable wind resources. 

With the support from offshore wind energy actors, POWER can accelerate offshore wind development over the next decade by providing technical assistance and advisory services to various government agencies; coalition-building and advocacy other stakeholders critical for a successful transition to renewable energy. These efforts will create favorable conditions to pave the way that will ensure offshore wind can thrive.

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About The Blue Circle

Founded in 2013, The Blue Circle identifies, develops, finances, owns and operates renewable energy projects in the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable projects. With offices in Singapore, Ho Chi Minh City, Bangkok, Phnom Penh and Manila, The Blue Circle is the leading renewable energy company of Southeast Asia. Its team is committed to changing the world one green electron at a time.

For further information, please contact:

The Blue Circle

Amaury Brucker

Tel: +63 915 182 7899

amaury.brucker@thebluecircle.sg

The Blue Circle receives BOI's Green Lane Endorsement for its Kalayaan 2 project

The Philippines’ board of investments (Boi) grants green lane endorsement to the blue circle for the kalayaan 2 wind power project

Manila, October 26, 2023. This Monday, as part of the Philippines’ government goal to facilitate green investments in local projects, the Board of Investments (BOI) awarded the Green Lane Certificate of Endorsement to The Blue Circle for its Kalayaan 2 wind power project located in the Laguna province (Luzon).

In accordance with Executive Order No. 18 on “Constituting Green Lanes for Strategic Investments,” the Kalayaan 2 project is now confirmed as a strategic investment for the Philippines. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.

BOI Governor Marjorie Ramos-Samaniego awarded the Green Lane Certificate of Endorsement to TBC’s Construction Country Director Mr. Miguel Cruz Moniz with the following TBC representatives also present: Mr Norman Fumar, Legal & Permitting Manager, Ms Grace Targa, Project Development Manager, Mr Amaury Brucker, Communication & Development Support Manager and Ms Daisy Viray, Senior Permitting Officer.
The Blue Circle (TBC), through its 100% subsidiary Laguna Wind Energy Corp. (LWEC), is currently developing the Kalayaan 2 wind power project to spearhead its efforts in increasing its presence in the Philippines. TBC has an overall portfolio of more than 2.5 GW worth of renewable energy projects under development in the entire country.

The Kalayaan 2 project’s footprint will cover 70 hectares of land with an installed capacity of 100.8 MW of clean energy utilizing the latest state-of-the-art wind turbine generator technology.

Aligned with the Department of Energy’s 35% target of renewable energy in the power generation mix by 2030, the Kalayaan 2 project will contribute to accelerate the Philippines’ goal to reduce harmful greenhouse gas emissions while promoting economic growth in the project’s region and protecting the health and environment of its stakeholders.

The Blue Circle partners with The Asia Foundation and World Wide Fund For Nature

The blue circle partners with the asia foundation and world wide fund for nature to promote gender equality, social inclusion and sustainable governance in the mekong subregion

SINGAPORE, July 11, 2023. Today, The Blue Circle (“TBC”), The Asia Foundation (“TAF”), and the World Wide Fund for Nature (“WWF”) signed a Partnership Agreement to strengthen gender equality and social inclusion (GESI) in TBC’s environmental and social governance management process.

TAF and WWF share a common goal of strengthening natural resource governance and sustainable development efforts through increased gender equality and social inclusion in the Mekong subregion. In December 2022, TBC, TAF, and WWF began a collaboration to address shared interests, utilising each organisation’s area of expertise.

Renewable energy projects in the lower Mekong subregion often lack comprehensive and effective environmental, social, and governance (ESG) standards. This partnership will strengthen TBC’s technical capacity to integrate  ESG standards in its activities. TBC’s adoption of more responsive GESI programming will also provide a model that can be brought to scale in other projects and countries in the region.

Mekong For the Future, funded by the U.S. Agency for International Development and implemented by WWF, will support development of  a comprehensive management plan for TBC to improve environmental sustainability, through workshops, seminars, conferences, and technical expertise. Concurrently, the USAID and Australia Mekong Safeguards Program, implemented by TAF, will assist TBC in enhancing GESI and ESG standards across the energy company.

“At The Blue Circle, we believe that gender equality and social inclusion is the soul of sustainable development. Joining hands with TAF and WWF will support us in taking collective, coordinated, and comprehensive actions to create sustained improvement,” said Priyanka Awasthi, Chief Sustainability Officer for The Blue Circle.

“Gender equality and social inclusion stand at the forefront of our priorities as part of Mekong Safeguards’ mission to make infrastructure in the Mekong subregion sustainable and equitable. Our activities drive opportunities for women and vulnerable populations at all economic levels, ranging from mainstreaming gender in the energy industry to supporting women-owned businesses in local communities,” said Winston K.H. Chow, Chief of Party of the USAID and Australia Mekong Safeguards program.

"WWF recognises the critical role of community-led conservation and climate adaptation, which prioritises women’s leadership and knowledge in natural resource management. Through the USAID Mekong For the Future project, cross-sectoral partnerships – such as with TBC and TAF – foster transformative and innovative approaches to integrating gender and social inclusion into traditionally exclusionary spaces,” added Veerawit Tianchainan, Chief of Party of the USAID Mekong For the Future program.

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About The Blue Circle

Founded in 2013, The Blue Circle identifies, develops, finances, owns, and operates renewable energy projects in complex and challenging geographies of the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable projects. With offices in Singapore, Ho Chi Minh City, Bangkok, Phnom Penh, and Manila, The Blue Circle is the leading renewable energy company in Southeast Asia.

About The Asia Foundation

Established in 1954 and with a strong global presence through 18 offices around the world, TAF is a non-profit international development organisation committed to improving lives across a dynamic and developing Asia with active involvement in women’s empowerment, economic development, education, and environmental protection.

About World Wide Fund for Nature

WWF is an independent conservation organisation, with over six million supporters and a global network active in nearly 100 countries, working to sustain the natural world for the benefit of people and wildlife. WWF's mission is to stop the degradation of the Earth's natural environment and to build a future in which humans live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting reduction of pollution and wasteful consumption.

ACCIONA ENERGÍA AND THE BLUE CIRCLE PARTNER TO DRIVE GROWTH IN SOUTHEAST ASIA

ACQUISITION

ACCIONA Energía agrees to enter into a strategic partnership with The Blue Circle as its platform and main partner to develop, build and operate its pipeline of projects in Southeast Asia

3.8GW PORTFOLIO

The Blue Circle has 84MW in operation and 3.8GW of wind projects under development in Vietnam, Thailand, Philippines, Cambodia, Indonesia, Laos, and Sri Lanka

MADRID, SEPTEMBER 14, 2022. ACCIONA Energía, the world's largest 100% renewable power company with no fossil legacy, has agreed to enter into a strategic partnership with The Blue Circle, a Singapore-based leading developer of wind projects in the Southeast Asia region. The transaction includes a US$34 million investment to enter the capital of The Blue Circle and a commitment of up to US$113.5 million to finance capex of projects that reach ready-to-build status.

Through this transaction, ACCIONA Energía acquires a close-to 50% stake in The Blue Circle and becomes its largest individual shareholder. Thanks to this investment, ACCIONA Energía will develop, build and operate projects in Southeast Asia for the first time.

The Blue Circle has an installed operational capacity of 84MW in Vietnam –in which it maintains 50% voting stake–, and +1.4GW at an advanced stage of development. The total portfolio under development amounts to 3.8GW in Vietnam, Thailand, the Philippines, Cambodia, Indonesia, Laos, and Sri Lanka.

“We are extremely pleased to announce this strategic partnership with a pioneer and leader of renewable energy in the world. The Blue Circle has itself been a pioneer of wind power in Vietnam since 2017, developing projects in Southeast Asia since 2013, establishing early leading positions in many relevant Southeast Asia countries with a secured landbank of 94,475 hectares as of today. Joining forces with ACCIONA Energía at the inflection point of renewables penetration in the region will enable The Blue Circle to tackle the tremendous growth expected in the coming years”, stated Olivier Duguet, Chairman and CEO of The Blue Circle.

“Following ACCIONA Energía´s investments in Australia, we are eager to join The Blue Circle to enter the renewable energy markets of Southeast Asia. This opens a new growth opportunity for us with an experienced leader in the region and I am excited by the synergies between The Blue Circle and ACCIONA Energía that this transaction will enable” said Rafael Mateo, CEO of ACCIONA Energía.

The founding partner and Chairman, Olivier Duguet, and other minority shareholders, will continue to hold a majority stake in The Blue Circle. Olivier Duguet will continue in his role as CEO of the company.

Founded in 2013, The Blue Circle identifies, develops, finances, and operates renewable energy projects, mainly wind energy. It has offices in Singapore, Ho Chi Minh City (Vietnam), Bangkok (Thailand), Phnom Penh (Cambodia), and Manila (Philippines).

ACCIONA Energía’s entry as a partner, strengthens The Blue Circle's access to financing to execute projects under development and contributes, with expertise and track record in renewable technologies, to accelerate The Blue Circle´s growth.

ACCIONA Energía is the world's largest 100% renewable and fossil-free energy operator. It has an operational project portfolio of 11.2GW in 16 countries across five continents. The company is part of the ACCIONA Group, a leader in transport, construction, and water infrastructure, which already operates in the Asia-Pacific region, mainly in the Philippines.

The investment in The Blue Circle represents ACCIONA Energía’s entry into several countries of the Asia-Pacific region that offer attractive growth prospects for the renewable energy sector.

With this transaction, ACCIONA Energía expands its portfolio of projects under development and its geographic diversification, advancing in its growth plans to reach 20GW of installed capacity by 2025 and securing long-term growth in new countries with high potential for it.

Astris Finance and Asia Counsel acted respectively as Financial Advisor and Legal Counsel to The Blue Circle, and Baker McKenzie as Legal Counsel to ACCIONA Energía.

ACCIONA Energía is the largest 100% renewable energy company with no fossil legacy in the world. It has 11.2GW of renewable energy and commercial operations in 20 countries. With 30 years of experience, ACCIONA Energía offers a complete portfolio of tailor-made energy solutions for its corporate and institutional clients to meet their decarbonization goals. ACCIONA Energía is committed to the highest environmental, social and corporate governance (ESG) standards. ACCIONA S.A., a leading global company in the provision of regenerative solutions for a decarbonized economy, is the reference shareholder of ACCIONA Energía. www.acciona-energia.com

The Blue Circle. Founded in 2013, The Blue Circle identifies, develops, finances, owns, and operates renewable energy projects in complex and challenging geographies of the Asia-Pacific region. The Blue Circle uses the most advanced technology to build responsible and sustainable projects. With offices in Singapore, Ho Chi Minh City, Bangkok, and Phnom Penh, The Blue Circle is the leading renewable energy company in Southeast Asia.

ACCIONA Energía

Luisa Gómez +34 639 20 70 79

Ana Martínez + 34 696 90 51 63 

prensa.energia@acciona.com

The Blue Circle

Amaury Brucker

+63 915 182 7899

amaury.brucker@thebluecircle.sg