Singapore’s Equator Renewables Asia and the clean energy unit of China National Nuclear Corporation on Tuesday signed a joint venture agreement to develop a solar project in Indonesia, with part of the electricity generation set for exports to Singapore.
CRE International (CREI), the renewables arm of the China National Nuclear Corporation (CNNC), and Equator Renewables Asia will work to develop a cross-border renewable energy project designed to export up to 400?MW?AC of clean, solar-generated electricity from Indonesia’s Riau Islands to Singapore, via a subsea transmission link.
The project encompasses a 2,200?MWp solar PV installation integrated with 3,200?MWh battery storage, enabling firm, zero?emissions electricity supply.
Equator Renewables Asia is part of the Green Corridor Indonesia (GCI) consortium, collaborating closely with both Indonesian and Singaporean authorities to establish a regulated Green Electricity Corridor in the ASEAN bloc in Southeast Asia.
Equator and CRE International signed the deal at the Asia Clean Energy Summit. The agreement envisages the Chinese company to lead the generation-side investment, construction, and operation of the solar and battery storage facilities, while Equator will manage transmission and offtake coordination.
“We are exceedingly bullish on the demand for low-carbon energy in Singapore, and our vision from day one has been to position ourselves to meet this burgeoning need,” Frank Phuan, founder of Equator Renewables Asia, commented, as carried by Singapore’s news outlet Business Times.
Last year, Singapore’s Energy Market Authority (EMA) said it would seek to import around 6 gigawatts (GW) of low-carbon electricity by 2035, up from an initial target of 4 GW, as the country looks to decarbonize its power sector amid growing demand.
“Low-carbon electricity imports are part of Singapore’s overall efforts to decarbonise the power sector, which currently accounts for about 40% of the nation’s carbon emissions,” EMA said in September 2024, announcing conditional licenses and approvals for more imports of clean electricity from Indonesia.
By Tsvetana Paraskova for Oilprice.com
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