Philippines-based AC Energy Corporation (ACEN), a subsidiary of the Ayala Group, and Puri Usaha Group have formed a renewable energy-focused joint venture (JV) company to develop large-scale solar, battery energy storage and green hydrogen projects in Indonesia.
Suryagen Capital Private Limited JV will undertake RE projects on the Riau islands of Batam, Bintan and Karimun (BKK) and the province of East Nusa Tenggara. Works on the first project is scheduled to commence in 2023 and includes exporting energy from Indonesia to Singapore through a subsea cable.