Equator Renewables Asia Secures S$50 Million for Solar and Green Hydrogen Projects in Indonesia
Equator Renewables Asia (ERA) has raised S$50 million to develop large-scale solar power and green hydrogen projects in Indonesia. The funding includes S$30 million from KPN Corporation and Tsao Pao Chee, with the remaining S$20 million from CEO Frank Phuan and the management team. ERA has received approval to import up to 400 MW of renewable power from Indonesia to Singapore, aligning with a MoU for a Sustainable Industrial Zone. Both countries aim for net-zero emissions by 2050 and 2060 respectively.
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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.
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