Vena Energy is currently building a hybrid megaproject in the Riau Islands which is estimated to accommodate up to 2 GW of solar capacity.
Heaptalk, Jakarta — A Singapore-headquartered renewable energy company, Vena Energy, announced its plan to expand the renewable energy supply chain in Indonesia by entering into partnerships with several parties, including Chinese solar panel manufacturer Suntech, a US-based provider of energy storage platform Powin; and a China-based battery cell manufacturer REPT Battero.
The partnerships were marked by signing the framework agreement in Jakarta (08/07) with the objective of exploring opportunities for the establishment of local production lines for components of solar photovoltaic panels and energy storage systems. Further, these components are designed to equip Vena Energy’s hybrid megaproject in the Riau Islands which is currently being developed.
The megaproject in the Riau Islands is estimated to accommodate up to 2 GW of solar capacity and a battery energy storage system that can potentially store more than 6 GWh of clean energy. Vena Energy claims that this capability makes the project one of the most significant renewable energy initiatives in Southeast Asia.
Later, the renewable power produced will be distributed to Singapore through Shell Eastern Trading (Pte.) Ltd. Therefore, Vena Energy also signed a cooperation agreement with Shell Eastern Trading (Pte.) Ltd for the cross-border supply.
Have commissioned 5 solar and onshore wind projects
According to the company statement, this framework agreement reinforces the Indonesian Government’s aspiration in aligning climate goals with national and international objectives under the auspices of the “Long-Term Strategy for Low Carbon and Climate Resilience 2050” announced by President Joko Widodo in 2021. Additionally, the Government’s aspirations also include emphasizing the development of local talents, enhancing climate literacy, and fostering sustainable economic growth.
“Vena Energy has been supporting Indonesia in its green energy transformation journey since 2015 by having commissioned five solar and onshore wind projects totaling 114 MW,” said CEO of Vena Energy Nitin Apte.
Apte further conveyed that with this agreement, his party aims to significantly contribute to the development of a productive domestic supply chain in the renewable energy sector which will support Indonesia’s energy transition plan and enhance the local economy. “We are grateful to the Indonesian Government for its continued support, and we look forward to accelerating its long-term goal of achieving low carbon and climate resilience,” Apte concluded.
