Equator Renewables Asia Raises $39M for Indonesia Solar Projects
In a significant boost for Southeast Asia’s renewable energy landscape, Singapore-based Equator Renewables Asia (ERA) has successfully raised S$50 million (approximately $39.3 million) to spearhead ambitious solar, green hydrogen, and sustainable industrial projects in Indonesia. The funding marks a critical step for the company, founded in 2025 by renewable energy veteran Frank Phuan, as it aims to accelerate the region’s transition to clean energy.
The Investment Breakdown for Indonesia solar projects
The funding round, announced on March 10, 2026, was anchored by a combined S$30 million from two cornerstone investors: Indonesian conglomerate KPN Corporation and Singapore-based Tsao Pao Chee. The remaining S$20 million was contributed by Phuan and ERA’s management team, demonstrating strong internal confidence in the company’s vision.
As part of the investment, ERA will welcome KPN director Brian J. Chen and Robin Pho, representing Tsao Pao Chee, to its board. Their inclusion is expected to bring valuable expertise in industrial integration and strategic development.
A Vision for Large-Scale Green Energy with Indonesia solar projects
The newly secured capital is earmarked for an impressive portfolio of projects in Indonesia. ERA is developing initiatives that include 2.2 gigawatt-peak (GWp) of solar photovoltaic projects and 3.2 gigawatt-hours (GWh) of battery energy storage systems, alongside green hydrogen production facilities.
Specifically, the funds will support crucial early-stage activities such as site development, initial preparations for solar installations, and comprehensive feasibility studies for hydrogen storage and transport. These efforts will primarily focus on sites within Indonesia’s Riau Islands, with potential for expansion onto land controlled by KPN, pending environmental assessments.
A flagship component of ERA’s strategy is a project designed to export up to 400 megawatts (MW) of renewable power directly to Singapore. This initiative has already received conditional approval from Singapore’s Energy Market Authority (EMA) and aligns perfectly with the broader vision of an ASEAN Power Grid, aimed at fostering regional decarbonization and energy security.
Strategic Importance for the Region: Indonesia solar projects
The investment comes at a pivotal time for Southeast Asia, a region grappling with rising electricity demand and a heavy reliance on coal. Frank Phuan, who previously founded and led Sunseap Group before its acquisition, established ERA to continue his work on driving the renewable energy transition.
ERA’s strategy is twofold: to develop sustainable industrial zones that serve Indonesia’s growing domestic energy needs and to facilitate Singapore’s goal of importing clean energy. This cross-border collaboration highlights a growing trend of regional cooperation to tackle climate change and meet ambitious green energy targets. The successful funding round not only empowers ERA to move forward with its projects but also signals strong investor confidence in the future of renewable energy in the Indonesia-Singapore corridor.
