Equator Renewables Asia (ERA), led by entrepreneur Frank Phuan, has successfully raised S$50m to fund large-scale solar, green hydrogen, and sustainable industrial zone projects across Indonesia. This investment is supported by Indonesia’s KPN Corporation and Singapore-based Tsao Pao Chee, who have collectively contributed S$30m. The remaining S$20m comes from Phuan and ERA’s management team.
The funds will facilitate ERA’s ambitious plans to import up to 400 megawatts of renewable power from Indonesia, following conditional approval from Singapore’s Energy Market Authority. This initiative aligns with the Memorandum of Understanding signed between Singapore and Indonesia on 13 June 2025, which aims to develop a Sustainable Industrial Zone in the Batam, Bintan, and Karimun regions. The project is part of a broader effort to cut carbon emissions and achieve net zero by 2050 and 2060 for Singapore and Indonesia, respectively.
Brian J. Chen, Director of KPN, highlighted the synergy of the investment, stating, “KPN controls extensive landbanks from its agribusinesses across Indonesia. We are committed to repurposing portions of this land for utility-scale solar, battery storage, and green hydrogen production.” Robin Pho, Managing Director of Energy Transition at TPC, added that their strategy focuses on enabling decarbonisation and supporting the restoration of natural systems.
ERA’s project portfolio in Indonesia includes solar PV developments with a capacity of 2.2 gigawatts peak, 3.2 gigawatt-hours of battery energy storage systems, and new green hydrogen production initiatives. This venture represents a significant step towards the ASEAN Power Grid initiative, aiming to enhance regional energy security and resilience.
