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Aslan Energy Capital, based in Singapore, and PT Calypte Sugi Power, an Indonesian company, have signed a Memorandum of Understanding (MoU) to collaborate on the development of a power generation hub on Sugi Island, located in the Riau Islands Province of Indonesia.
The power hub project aims to develop large-scale solar and sustainable clean energy generation capacity in the region. The initial phase targets a 1 GW solar power production capacity by the third quarter of 2026, with plans to expand up to a combined 2 GW of solar power generation by the fourth quarter of 2027. This development will leverage the favorable conditions on Sugi Island, such as its unique geographic location, relatively flat terrain, and high solar irradiance.
Dr. Muthu Chezhian, CEO of Aslan Energy Capital, emphasized the significance of this project in the company’s broader strategy: “The Sugi Power Hub is a key component in our group’s strategic mission to develop a sustainable energy value chain portfolio. The unique conditions of Sugi Island make it an ideal location for establishing the power arm of our value chain and accelerating our progress towards achieving the ESG goals and SDG targets of the Riau Province, as well as Indonesia’s overall ambition to become a green energy leader in Southeast Asia. Indonesia remains a key strategic hub for our group in the Asia Pacific, and we are committed to ensuring the success of the integrated portfolio of developments we have originated in the country.”
Mr. Han Fook Kwang, Chief Development Director of PT Calypte Sugi Power, expressed his enthusiasm for the partnership: “We are delighted to have secured this partnership with Aslan Energy Capital for the Sugi Island power project. Since we began planning to develop a sustainable power generation base in the Riau Islands, we have been selective in choosing a partner. Aslan Energy Capital’s corporate vision and understanding of the Indonesian market dynamics made them the ideal choice. With feasibility studies completed and the project advancing into detailed engineering in the coming months, we are targeting a final investment decision by the second quarter of 2025.”
Aslan Energy Capital is a project development, operations, and new energy assets platform focused on the renewable hydrogen, renewable ammonia, and sustainable energy value chains. The company collaborates with key players in the energy sector, technology developers, and investment partners to deliver solutions addressing energy and social infrastructure needs in Asia and the Americas.
PT Calypte Sugi Power is a private special purpose vehicle dedicated to the development of power generation on Sugi Island in the Riau Islands Province. It is part of Calypte Holding Pte Ltd, a firm focused on energy and industrial opportunities across Indonesia. |
