Equator Renewables Asia Secures $39M Funding for 2.2GW Solar, Green Hydrogen Push in Indonesia

Singapore-based Equator Renewables Asia (ERA) has raised S$50 million ($39.3 million) to fuel its expansive solar, green hydrogen, and sustainable projects across Indonesia.

The round features cornerstone investments of S$30 million from Indonesia’s KPN Corporation and Singapore’s Tsao Pao Chee (TPC), with CEO Frank Phuan and management covering the remaining S$20 million.

From Sunseap Success to Regional Decarbonization

ERA, founded last year by Phuan post his exit from co-founding Sunseap Group—sold to Portugal’s EDP Renewables—targets Southeast Asia’s energy transition.

Phuan’s vision emphasizes decarbonizing the region through utility-scale renewables and industrial innovation.

Monumental Project Pipeline

The firm’s Indonesian portfolio includes 2.2 GWp solar PV developments, 3.2 GWh battery energy storage systems, and nascent green hydrogen production.

ERA secured conditional approval from Singapore’s Energy Market Authority for importing up to 400 MW of renewables from Indonesia.

Boosting Singapore-Indonesia Green Collaboration

This follows the June 2025 MOU establishing a Sustainable Industrial Zone in Batam, Bintan, and Karimun for clean manufacturing and logistics.

Brian J. Chen of KPN and Robin Pho of TPC join ERA’s board, tapping KPN’s vast landbanks for repurposed energy projects.

The funding advances Singapore’s 2050 net-zero and Indonesia’s 2060 goals while paving the way for the ASEAN Power Grid.

ERA’s efforts promise economic impacts via jobs, investments, and a regional clean energy hub.

Phuan hailed the raise as key to linking Singapore and Indonesia’s decarbonization journeys.