Singapore's GenZero, along with Ayala Corporation and a global asset manager, sign an MoU to explore transition credits for retiring a coal plant and replacing it with solar and battery storage by 2030.

Singapore's GenZero, a Temasek subsidiary, enters a MoU with the Philippines' Ayala Corporation and global asset manager to explore 'transition credits' for retiring a coal-fired power plant. The agreement aims to expedite Southeast Asia's transition away from coal, using transition credits to replace coal plants with solar and battery storage by 2030. The initiative may serve as a precedent for similar projects in the region.

August 16, 2024
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