Ecobiz.asia — Singapore-based renewable energy developer Equator Renewables Asia (ERA) has raised S$50 million to fund large-scale solar, green hydrogen and sustainable industrial zone projects in Indonesia, backed by strategic investors including KPN Corporation and Tsao Pao Chee Group.
KPN and Tsao Pao Chee (TPC) jointly contributed S$30 million as cornerstone investors, while the remaining S$20 million was provided by ERA’s chief executive Frank Phuan and the company’s management.
ERA was established last year by Phuan after he exited Sunseap Group, the solar firm he co-founded, which was acquired by Portugal-based EDP Renewables.
The company said it has secured conditional approval and a conditional import license from Energy Market Authority to import up to 400 MW of renewable electricity from Indonesia.
The planned projects are expected to support broader decarbonisation initiatives between Indonesia and Singapore, including the development of a Sustainable Industrial Zone (SIZ) in the Batam, Bintan, and Karimun areas. The initiative was formalised through a memorandum of understanding signed by both countries in June 2025.
The SIZ initiative aims to establish a regional hub for clean energy manufacturing, battery storage and logistics to attract sustainable investment and accelerate green industrialisation.
Phuan said the latest fundraise represents a key milestone in ERA’s strategy to help both countries advance their decarbonisation goals while supporting the development of green industrial infrastructure.
“With backing from partners that bring land, logistics and regulatory alignment, we are ready to scale multiple solar projects, green hydrogen facilities and cross-border infrastructure,” Phuan said in a statement on Tuesday (March 10, 2026).
ERA’s current project pipeline in Indonesia includes solar photovoltaic developments with a combined capacity of 2.2 GWp, 3.2 GWh of battery energy storage systems, and green hydrogen production projects.
As part of the investment, Brian J. Chen, director of KPN and a personal investor in ERA, and Robin Pho, managing director for energy transition at TPC, will join ERA’s board of directors.
The company said the projects are expected to contribute to the long-term development of cross-border clean energy infrastructure and support regional initiatives such as the ASEAN Power Grid. ***
