Singapore-based Aslan Energy Capital, and Indonesia-based PT Calypte Sugi Power, have signed a memorandum of understanding (MoU) to develop a power generation hub on Sugi Island in Riau Islands Province in Indonesia.
The hub will focus on large-scale solar and sustainable energy production, with a target of 1 GW solar power capacity by Q3 2026, expanding to 2 GW by Q4 2027. The project will capitalise on favourable geographic and solar conditions, contributing to Indonesia’s green energy goals. Feasibility studies have been completed, and the final investment decision (FID) is expected by Q2 2025.