- Quantum Power Asia and Ib Vogt GmbH will invest $5 billion in Riau Islands.
- The complex will be able to export up to 4TWh of electricity to Singapore yearly.
- The JV will collaborate with the Indonesian unit of the Singaporean electrical retailer.
Quantum Power Asia and Ib Vogt GmbH, a German solar developer, will invest around $5 billion in a project to establish a solar park with a capacity of over 3.5GW on Indonesia’s Riau Islands and export electricity to Singapore.
Quantum announced that the project would be realised through a joint venture called Anantara Energy Holdings Pte Ltd. Under a call issued by Singapore’s Energy Market Authority, the business has already applied for licenses to import power into Singapore from nations in the region, including Indonesia (EMA).
Riau Islands Province inked a collaborative development agreement and a Memorandum of Understanding (MoU). Quantum and Ib Vogt’s concept entails building a massive solar farm spanning over 4,000 ha with 12 GWh of battery storage capacity (9.900 acres). The complex will be able to export up to 4TWh of electricity to Singapore yearly once completely operational in 2032, thanks to a subsea cable network. The solar complex is expected to provide around 8% of the country’s annual power needs.