ACEN, Puri Usaha Group partner to develop RE in Indonesia

Ayala Group’s listed energy platform, ACEN and the Puri Usaha Group have announced that they will work together on a platform for the joint development of renewable energy projects in Indonesia focusing on large-scale solar power plants, battery energy storage systems and green hydrogen projects. ACEN says that the plan is subject to applicable regulatory approvals and execution of definitive documentation. The proposed joint venture entity is Suryagen Capital Pte. Ltd.

According to the official statement of the companies, the Suryagen platform covers the Batam, Bintan and Karimun (BBK) islands as well as East Nusa Tenggara province where the majority of the projects that the Puri Usaha Group have been developing are located. It aims to begin the construction of its first project by 2023. These are also the more ‘industrialised’ islands thanks to investments from Singapore based firms.

The Puri Usaha Group was instrumental in the formation of a consortium to participate in the recently announced ambitious cross border initiative to import renewable energy from Indonesia for the Singaporean market. The historic project which aims to build renewable power in Indonesia and export the power to Singapore via a subsea cable will be the first project the Suryagen platform intends to develop.

“ACEN is an ideal strategic partner for the Puri Usaha group to strengthen our overall capabilities in undertaking our major projects around Indonesia beginning with the historic cross border green electricity project from Batam to Singapore” said Ben Subrata- CEO of Puri Usaha Group.

Patrice Clausse, CEO of ACEN, said, “In the time since we have started discussions, we have learnt about the tremendous vision the Puri Usaha team have for the renewables industry in Indonesia. It is a vision that we share, as the country has tremendous potential to continue to grow and expand its renewable energy assets and we are excited about the potential of the Suryagen platform.”

ACEN presently has about 3,800 MW of capacity in the Philippines, Vietnam, Indonesia, India, and Australia with a renewable share of capacity at 87%. Puri Usaha Group identifies, develops, and engages in investments in power assets in Indonesia and Timor Leste.