Equator Renewables Asia, based in Singapore, has raised S$50 million (about $39.3 million) in funding. The company will use the money to grow its projects in Indonesia, including solar energy, green hydrogen, and sustainable industrial infrastructure.
Equator Renewables Asia was founded in 2025 by Frank Phuan after he sold Sunseap Group, the solar company he co-founded, to EDP Renewables. The new company focuses on building renewable energy infrastructure in Southeast Asia, where electricity demand is growing quickly and coal is still widely used.
The company’s first projects are mainly in Indonesia. The country has large areas of land and strong renewable resources, which makes it suitable for building large solar power projects.
Equator Renewables Asia has received conditional approval and an import license from the Energy Market Authority to export up to 400 megawatts of renewable electricity from Indonesia to Singapore. Importing clean electricity from other countries is an important part of Singapore’s plan to reduce carbon emissions and secure more low-carbon energy sources.
The main project of Equator Renewables Asia aims to connect renewable electricity produced in Indonesia with the electricity demand in Singapore. This project is designed to support the growing clean energy industry in the region.
The plan is also linked to the ASEAN Power Grid, a regional project that aims to connect electricity networks between countries in Southeast Asia so power can be shared across borders.
In Indonesia, the company is planning large solar power projects with a total capacity of about 2.2 gigawatts. It is also developing battery energy storage systems with around 3.2 gigawatt-hours of capacity to store electricity and balance the power supply when solar generation changes.
Along with solar power and battery storage, the company is also exploring green hydrogen production. Hydrogen is becoming an important clean energy option that can be used by industries or exported to other markets.
For Singapore and Indonesia, this collaboration shows how both countries are working together to develop clean energy in the region. Singapore aims to reach net zero emissions by 2050, while Indonesia plans to achieve net zero by 2060.
To meet these goals, both countries will need to greatly increase renewable energy production, upgrade their power infrastructure, and build new industries that run on low-carbon electricity.
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