Agreement signed to explore expansion of renewable energy supply chain in Indonesia

Singapore-based Vena Energy has signed a framework agreement with China-based Suntech Power Holdings Company Limited (Suntech), Rept Battero Energy Company Limited (REPT) and United States-based Powin Energy for the expansion of Indonesia’s renewable energy supply chain.

The agreement aims to establish local production lines for components of solar photovoltaic (PV) panels and energy storage systems (ESS). It will feature up to 2 GW of solar PV generation capacity with a battery ESS of 8 GWh. These components are also intended to support Vena Energy’s hybrid megaproject in the Riau Islands which is currently under development. Additionally, Vena Energy has also signed an agreement with Shell Eastern Trading Private Limited, a subsidiary of Shell, for the cross-border supply of renewable energy generated by Vena Energy’s proposed hybrid megaproject to Singapore.