Singapore-headquartered Vena Energy has signed a landmark framework agreement with energy storage platform provider Powin, photovoltaic module manufacturer Suntech and energy storage battery cell producer REPT Battero, with a view to expanding Indonesiaâ€™s renewable energy supply chain.
The framework agreement â€œaims at exploring opportunities for the establishment of local production lines for components of solar photovoltaic panels and energy storage systemsâ€, a Vena Energy statement said.
These components will also be used for Vena Energyâ€™s hybrid ‘megaproject’ in Indonesia’s Riau Islands, which is currently under development. The project is set to feature up to 2 GW of solar power capacity and a battery energy storage system potentially capable of storing in excess of 8 GWh of clean energy.
Vena Energy has also signed a collaboration agreement with Shell Eastern Trading for the cross-border supply of renewable power – generated by the Riau Islands project – to Singapore.
Nitin Apte, CEO of Vena Energy, said: â€œVena Energy has been supporting Indonesia in its green energy transformation journey since 2015, having commissioned five solar and onshore wind projects totalling 114 MW. With this framework agreement, we aim to significantly contribute to the development of a productive domestic supply chain in the renewable energy sector, which will support Indonesiaâ€™s energy transition plan and enhance the local economy by creating jobs, fostering industrial expansion and opening export opportunities in this growing sector of the economy.â€
â€œCognizant of our shared commitment to sustainability and climate action, we are thrilled to announce our partnership with Vena Energy,â€ said Anthony Carroll, president at Powin. â€œBy collaborating on this transformative hybrid project, we are not only supporting the economy of Indonesia by creating jobs through localised manufacturing, but we are also accelerating Singaporeâ€™s journey towards its ambitious sustainability and climate goals. Together, we are forging a path towards a cleaner, more resilient future for all.â€