The two parties will build large-scale photovoltaic, ESS energy storage battery projects + green hydrogen projects in Indonesia through the joint venture company Suryagen Capital
The joint venture will continue to develop projects from Riau including Karimun Island to the entire East Nusa Tenggara Region (Indonesian: Nusa Tenggara Timur)
ACEN (AC Energy) and Puri Usaha Group, the energy business platform companies under Ayala, a major Philippine conglomerate, recently announced that they will cooperate closely to jointly develop renewable energy projects in Indonesia, with a focus on large-scale renewable energy projects. Photovoltaic power plants, battery energy storage systems (ESS) and green hydrogen. ACEN said the plan had passed the group's internal business approvals and entered the implementation stage of the final document. The joint venture entity between the two parties, Suryagen Capital Pte. Ltd, was registered in Singapore last year.
According to ACEN's official statement, the joint venture platform Suryagen will cover the islands of Batam, Bintan and Karimun, as well as East Nusa Tenggara Province, and the Indonesian Puri Usaha Group project pool. Most of them are located in this area. The company plans to start construction on its first project by 2023.
Jakarta-based Puri Usaha Group has been actively involved in energy-related projects in recent years, including the export of renewable electricity from Indonesia to the Singapore market through submarine cables. The project, which aims to export renewable energy in Indonesia to the Singapore market through submarine cables, will also be the first project developed by Suryagen Platform.
ACEN currently has about 3,800 MW of installed capacity in the Philippines, Vietnam, Indonesia, India and Australia, of which renewable energy accounts for 87%. Puri Usaha Group, the Indonesian partner, has confirmed that it will develop and participate in the development of power projects in Indonesia and Timor-Leste
