Singapore-based Aslan Energy Capital and PT Calypte Sugi Power partner to develop solar power hub in Indonesia

Aslan Energy Capital, based in Singapore, and Indonesia's PT Calypte Sugi Power have signed a Memorandum of Understanding (MoU) to collaborate on developing a power generation hub on Sugi Island in Indonesia's Riau Islands Province, as reported in official press release published on PR Newswire. The project aims to create a large-scale solar and sustainable clean energy facility in the region.

The power hub's initial development plan targets a 1 GW-solar power production capacity by the third quarter of 2026, with plans to expand up to 2 GW by the end of 2027. This expansion will leverage the favourable conditions for renewable energy on Sugi Island, including its strategic location, flat terrain, and high solar irradiance.

Dr. Muthu Chezhian, CEO of Aslan Energy Capital, highlighted the strategic importance of the Sugi Power Hub for the company's sustainable energy portfolio. He emphasised that the project aligns with Indonesia's goals of becoming a leader in green energy in Southeast Asia and supports the Riau Province’s environmental and sustainability targets. Dr. Chezhian also noted that Indonesia is a key strategic hub for Aslan Energy Capital in the Asia Pacific region, underscoring their commitment to successful development in the country.

Han Fook Kwang, Chief Development Director of PT Calypte Sugi Power, expressed satisfaction with the partnership, emphasising Aslan Energy Capital's alignment with their vision and understanding of the Indonesian market. He noted that thorough feasibility studies have already been completed with positive outcomes, and the project will advance to detailed engineering in the coming months, with a final investment decision (FID) expected in the second quarter of 2025.

Aslan Energy Capital focuses on the development and operation of renewable energy assets, including renewable hydrogen and ammonia, as well as sustainable energy projects across Asia and the Americas. The company works with key energy sector players and technology developers to create solutions for energy and social infrastructure needs.

PT Calypte Sugi Power operates as a special purpose vehicle dedicated to developing power generation on Sugi Island. The company is part of Calypte Holding Pte Ltd, which focuses on energy and industrial projects throughout Indonesia.