Daily News Wrap-Up: AC Energy to Develop Rooftop Solar Projects Across Asia

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

AC Energy Corporation, through its 100% subsidiary AC Renewables International, entered a joint venture with NEFIN Holding Limited to develop, construct, and operate rooftop solar projects across Asia. AC Energy Corporation and NEFIN Holding Limited will establish a joint venture holding company to develop, construct, and operate rooftop solar projects in Hong Kong, Malaysia, China, and Taiwan, with potential expansion to other Australasian countries. The joint venture will own 21 MW of operating assets and has a near-term project pipeline. AC Renewables International will infuse an initial investment of $10 million and commit to funding any further development and construction of the joint venture’s carbon neutrality pipeline. DBS Bank acted as the sole financial advisor for NEFIN Holding Limited for this transaction.

Lithium-ion (Li-ion) battery maker LOHUM plans to build a 3 GWh integrated Li-ion battery manufacturing and recycling factory in Greater Noida, Uttar Pradesh.  The integrated factory is expected to be built to the tune of ₹3 billion (~$40.45 million) and is set to be completed within 18 months. The factory will integrate the battery manufacturing capacity of 1 GWh and 2GWh of recycling per annum. At present, LOHUM operates two co-located factories of 300 MWh for manufacturing Li-ion batteries and 200 MWh for recycling the batteries. To further increase their refining efficiency, LOHUM is also setting up a smaller recycling unit in Kandla, Gujarat.

Solar energy equipment supplier Solarflux Energy has announced that its parabolic dish concentrator demonstrates 72% solar-to-thermal conversion efficiency. The result was part of Lehigh University’s Energy Research Center’s independent report reviewing performance test results for Solarflux’s parabolic dish concentrator. The report independently reviews testing of solar-to-thermal conversion efficiency in close accordance with the methods outlined in the ASTM 905-87 industry standard relating to solar concentrators.


California Fuel Cell Partnership released a foundational document for heavy-duty Class 8 fuel cell electric trucks. The document named “Fuel Cell Electric Trucks: A Vision for Freight Movement in California and Beyond” envisions the deployment of 70,000 electric trucks supported by 200 heavy-duty truck stations by 2035. The vision emphasizes the need for policies that unlock and accelerate private investment to achieve this interim step towards a larger goal of 100% zero-emission trucks by 2045.