Aslan Energy Capital (AEC) of Singapore and PT Calypte Sugi Power of Indonesia have signed an agreement to develop a power generation center on Sugi Island in Indonesia’s Riau Islands province.
The aim of the partnership is to develop large-scale solar and sustainable clean energy generation capacities.
Han Fook Kwang, Senior Development Director of PT Calypte Sugi Power, said: “We are pleased to have entered into a partnership with Aslan Energy Capital as our development partner for our power project on Sugi Island.
“Since we started planning to develop a sustainable power generation base in the Riau Islands, we have been very careful in selecting a partner developer. Aslan Energy Capital’s corporate vision and team experience, as well as understanding of Indonesian market dynamics, gave us the confidence to move this partnership forward.
“Feasibility studies have been completed with reassuring results and the project will progress with detailed project planning in the coming months, targeting FID (the final investment decision) in the second quarter of 2025.”
The first phase of the project aims to create a solar power production capacity of 1 GW by the third quarter of 2026.
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There are concrete plans to expand this capacity to a total of 2 GW by the fourth quarter of 2027.
Dr. Muthu Chezhian, CEO of Aslan Energy Capital, said: “The Sugi Power Hub is a key component in our Group’s strategic mission to develop a sustainable energy value chain portfolio.
“Sugi Island’s unique geographical location, relatively flat terrain and good solar exposure conditions are compelling arguments to establish the driving force of our value chain and accelerate progress towards achieving Riau Province’s ESG (Environmental, Social and Governance) and SDG (Sustainable Development Goals) goals, as well as Indonesia’s overall ambition to become a green energy leader in Southeast Asia.
“Indonesia is our Group’s most important strategic hub in the Asia Pacific region and our Group remains committed to the success of the integrated development portfolio we have successfully built in this country.”
AEC is a platform specializing in project development, operations and new energy assets, with a focus on the value chain for renewable hydrogen, renewable ammonia and sustainable energy.
PT Calypte Sugi Power is a special purpose vehicle dedicated to the development of power generation on Sugi Island.
