Article

Equator Renewables Asia (ERA) has raised S$50 million to develop solar, green hydrogen, and sustainable industrial zone projects in Indonesia. Funding includes S$30 million from KPN Corporation and Tsao Pao Chee, while CEO Frank Phuan contributes S$20 million.

ERA has secured Conditional Approval and a Conditional Import License from Singapore's Energy Market Authority to import up to 400 MW of renewable power from Indonesia. This aligns with a MoU for a Sustainable Industrial Zone signed by Singapore and Indonesia.

Both countries have set net-zero targets for 2050 and 2060. ERA's projects include 2.2 GWp of solar capacity and 3.2 GWh of battery storage.