• New joint venture will develop large scale solar, battery energy storage system and green hydrogen projects in Indonesia
• The joint venture entity will develop projects spanning the BBK islands as well as the East Nusa Tenggara province
• The partnership is the latest in ACEN’s string of initiatives to expand its renewable energy generation capacity in the Asia Pacific, now reaching 3,300 MW

May 16, 2022 – ACEN, the Ayala Group’s listed energy platform, and the Puri Usaha Group have agreed to work together in a platform for the joint development of groundbreaking renewable energy projects in Indonesia focusing on large-scale solar power plants, battery energy storage system and green hydrogen projects, subject to applicable regulatory approvals and execution of definitive documentation. The proposed joint venture entity is Suryagen Capital Pte. Ltd.

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, with the aim to begin the construction of its first project by 2023.

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, which is currently being run by the Energy Market Authority of Singapore. 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 of companies.

“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” said Patrice Clausse, Chief Operating Officer of AC Energy International.