Singapore’s Aslan Energy Capital (AEC) and Indonesia’s PT Calypte Sugi Power have signed a memorandum of understanding (MoU) to develop a clean energy hub on Sugi Island, in Indonesia’s Riau Islands Province. The Sugi Power Hub will be developed in phases, aiming to install 1 GW of solar power by Q3 2026 and finally 2 GW by Q4 2027. The project has completed its feasibility studies, and it should be advancing towards project engineering, targeting a financial investment decision (FID) by Q2 2025.
AEC is a platform for project development, operations and new energy assets focused on the renewable hydrogen and ammonia, as well as in sustainable energy value chain. PT Calypte Sugi Power is a subsidiary of Calypte Holding, a development firm focused on energy and industrial opportunities across Indonesia.
At the end of 2023, Indonesia’s solar capacity was of almost 600 MW or about 0.7% of its total installed capacity (91 GW).
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