SINGAPORE (Reuters) -Equator Renewables Asia and CRE International (CREI), a unit of China’s National Nuclear Corp, will jointly develop a solar and battery project in Indonesia’s Riau Islands to export clean power to Singapore, Singapore-based Equator said on Tuesday.
The companies expect to complete building a 900 megawatt (MW) photovoltaic and 1.2 gigawatt-hour (GWh) battery storage system by 2029, while generating 830 GWh of clean energy annually, Equator said in a statement.
“CREI will lead the generation-side investment, construction and operation of the solar PV and BESS facilities, while Equator will manage transmission and offtake coordination,” it said.
The “multibillion-dollar project” will be Equator’s first under the Singapore-Indonesia renewable energy programme. It was one of six companies that were granted conditional licences by Singapore.
The investment’s specific terms were not disclosed.
Grid interconnection is widely seen as a key tool to cut the region’s growing reliance on fossil fuels for power generation.
Singapore is targeting imports of about 6 gigawatts of low-carbon electricity by 2035, which it expects to account for around a third of its power. The country currently imports about 1% of its low-carbon power from Malaysia.
(Reporting by Lucas Liew; Editing by Thomas Derpinghaus)
