Singapore-based firm Equator Renewables Asia (ERA) has secured an investment of SGD 50 million (USD 39.3m/EUR 33.7m) to help it advance solar, green hydrogen and sustainable industrial zone projects across Indonesia.
Some SGD 30 million from the financing comes from two anchor investors, Indonesian agribusiness conglomerate KPN Corporation and Singaporean holding company Tsao Pao Chee (TPC). The rest is provided by ERA’s founder, entrepreneur Frank Phuan, and the company’s management.
ERA was established in 2025 by Phuan after he sold Sunseap Group, of which he was co-founder, to Portugal’s EDP Renewables and then bought over ERA’s assets.
The company’s flagship project is to connect Indonesia and Singapore in their decarbonisation initiatives, as part of their bilateral pact to develop sustainable industrial zones (SIZ) in the Batam, Bintan and Karimun regions. It has secured conditional approval and a conditional import licence from Singapore’s Energy Market Authority (EMA) for up to 400 MW of renewable power from Indonesia.
ERA’s project portfolio in Indonesia includes multiple solar developments with a total capacity of 2.2 GWp, 3.2 GWh of battery energy storage systems, along with new green hydrogen production initiatives.
In October 2025, the company announced a partnership with China’s CRE International Co Ltd (CREI) to develop a 900-MWp solar and 1.2-GWh battery energy storage project in Indonesia’s Riau Islands, aimed at exporting clean power to Singapore.
KPN controls extensive landbanks from its agribusinesses across Indonesia and the partnership with ERA will allow the company to accelerate the green transition while leveraging ERA’s proven development expertise and regulatory progress in both Singapore and Indonesia, said Brian Chen, director of KPN.
For TPC, the investment is aligned with its integrated energy transition and regenerative infrastructure strategy, investing across renewable power, electrons and green molecules, energy storage, industrial electrification, energy efficiency, nature-based solutions and carbon markets, managing director Robin Pho noted.
Source: Renewables Now
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
