Equator Renewables Asia (ERA) has secured SGD 50 million in investment to support the development of solar, green hydrogen and sustainable industrial zone projects in Indonesia. The funding will help advance initiatives aimed at exporting renewable electricity from Indonesia to Singapore. The financing includes SGD 30 million from two anchor investors, Indonesian agribusiness conglomerate KPN Corporation and Tsao Pao Chee (TPC). The remaining funds were contributed by ERA’s founder Frank Phuan and the company’s management team.
ERA was established in 2025 after Phuan sold Sunseap Group to EDP Renewables and subsequently acquired ERA’s assets. ERA’s flagship initiative focuses on supporting Indonesia and Singapore’s joint decarbonisation strategy through the development of sustainable industrial zones in Batam, Bintan and Karimun. The company has already secured conditional approval and a conditional import licence from Singapore’s Energy Market Authority to export up to 400 MW of renewable power from Indonesia to Singapore.
In December 2025, Vena Energy progressed its Indonesia–Singapore renewable energy project by signing a framework supply agreement with battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) for the project planned in the Riau Islands. Under the agreement, Vena Energy’s Indonesian subsidiary, PT Infrastruktur Terbarukan Sedaya, will procure CATL’s EnerX battery energy storage systems (BESS) with a capacity of up to 4,000 MWh.
