Renewable energy-focused JV company formed in Indonesia

Philippines-based AC Energy Corporation (ACEN), a subsidiary of the Ayala Group, and Puri Usaha Group have formed a renewable energy-focused joint venture (JV) company to develop large-scale solar, battery energy storage and green hydrogen projects in Indonesia.

The proposed JV, Suryagen Capital Private Limited, will undertake renewable energy projects on the Batam, Bintan and Karimun (BKK) islands and the province of East Nusa Tenggara. Works on the first project is scheduled to commence in 2023 and includes exporting energy from Indonesia to Singapore through a subsea cable.

 

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