Sunseap has signed a Memorandum of Understanding (MoU) with the provincial government of Riau Islands (Indonesia) covering 3,000 hectares of available land to develop large-scale solar energy projects and storage systems, including a 1,380 MW solar project and a 3,000 MWh energy storage system on Combol island and a 1,682 MW solar project and 3,500 MWh energy storage system on Citlim Island. The projects will supply electricity to Riau Islands and Singapore.
In October 2021, Sunseap signed an MoU to explore and develop solar power systems with a combined capacity of 7 GW around the Riau islands, including a previously announced 2.2 GW floating solar PV in Duriangkang, Batam. Some of the MoU parties include PT Mustika Combol Indah, PT Agung Sedayu, Sumitomo Corporation, Samsung C&T Corporation, Oriens Asset Management, ESS Inc and Durapower Group. Coupled with multiple energy storage systems totalling more than 12 GWh, the project aims to provide 1 GW of non-intermittent low-carbon clean energy for Singapore and Indonesia. In February 2022, Portugal's EDPR completed the acquisition of a 91% stake in Sunseap for a total consideration of SGD1.1bn (US$813m).