- Press Releases
May 17 (Renewables Now) - The Philippines-based AC Energy Corp (PSE:ACEN) announced that it has agreed to form a renewable energy-focused joint venture (JV) in Indonesia with domestic firm Puri Usaha Group, eyeing large-scale solar, battery energy storage and green hydrogen projects.
The proposed Suryagen Capital Pte Ltd venture would operate on the Riau islands of Batam, Bintan and Karimun (BKK) and the province of East Nusa Tenggara, the latter being the home of the majority of projects that Puri Usaha has been developing. The Jakarta-based renewables group will seek to start building its first project by 2023, ACEN said.
According to the Philippine company, the Puri Usaha group was “instrumental” in the formation of a consortium to participate in a cross-border initiative to export renewable energy from Indonesia to Singapore. The first renewable project for the Suryagen JV will based around sending power from Indonesia to the city-state via a subsea cable.
“ACEN is an ideal strategic partner for the Puri Usaha group to strengthen our overall capabilities in undertaking our major projects around Indonesia beginning with the historic cross border green electricity project from Batam to Singapore”, commented Ben Subrata, the CEO of Puri Usaha group of companies.
ACEN is the listed energy platform of Philippine conglomerate Ayala Group.