Singapore-based Equator Renewables Asia (ERA) has secured SGD50 million (USD39.3 million) in investment to support the development of solar, green hydrogen and sustainable industrial zone projects in Indonesia. The funding will help advance initiatives aimed at exporting renewable electricity from Indonesia to Singapore.
The financing includes SGD30 million from two anchor investors—Indonesian agribusiness conglomerate KPN Corporation and Singapore-based holding company Tsao Pao Chee (TPC). The remaining funds were contributed by ERA’s founder Frank Phuan and the company’s management team. ERA was established in 2025 after Phuan sold Sunseap Group to EDP Renewables and subsequently acquired ERA’s assets.
ERA’s flagship initiative focuses on supporting Indonesia and Singapore’s joint decarbonisation strategy through the development of sustainable industrial zones in Batam, Bintan and Karimun. The company has already secured conditional approval and a conditional import licence from Singapore’s Energy Market Authority to export up to 400 MW of renewable power from Indonesia to Singapore.
The company’s Indonesian project portfolio includes solar developments with a total planned capacity of about 2.2 GWp, 3.2 GWh of battery energy storage and green hydrogen production projects. In October 2025, ERA also partnered with China’s CRE International to develop a 900 MWp solar and 1.2 GWh battery storage project in Indonesia’s Riau Islands to supply renewable power to Singapore.