Aslan Energy Capital and PT Calypte have joined hands for a solar power complex
With a projected 2 GW capacity, the Sugi solar energy hub is planned for Sugi Island in Riau Islands
An FID is planned for Q2 2025 with the 2 GW complex to be complete by Q4 2027
A subsidiary of Singaporean investor Calypte Holding, PT Calypte Sugi Power is partnering with renewable energy project development platform Aslan Energy Capital of Singapore to develop a 2 GW solar energy hub in Indonesia’s Sugi Island in Riau Islands Province.
Under the memorandum of understanding (MoU) signed, the 2 partners plan to initially develop 1 GW of solar power production capacity by Q3 2026, with definitive plans to achieve up to a combined 2 GW of solar capacity by Q4 2027.
PT Calypte has completed feasibility studies for the project with ‘reassuring results.’ A final investment decision (FID) is targeted in Q2 2025, shared the Chief Development Director of PT Calypte Sugi Power.
“The Sugi Power Hub is a key component in our group's strategic mission on developing a sustainable energy value chain portfolio,” said Aslan Energy Capital CEO Dr. Muthu Chezhian. “The unique geographic location, relatively flat terrain and good solar irradiance conditions of the Sugi Island makes a compelling case to establish the power arm of our value chain and accelerate the progress in achieving the ESG goals and SDG targets of the Riau Province as well as Indonesia's overall ambition to be a green energy leader in SE Asia.”
Riau Islands, with solar energy potential and proximity to Singapore, is on the minds of several solar developers. EDP Renewables-backed Sunseap has plans to develop over 3 GW of solar and 6,500 MWh of storage here. In 2022, Quantum Power Asia and ib vogt launched a new joint venture for more than 3.5 GW of solar PV and 12 GWh of storage capacity in Riau Islands to supply up to 4 TWh to Singapore (see Singaporean JV For 3.5 GW Solar & 12 GWh Storage).
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