Quantum Power Asia (Quantum Power) collaborates with ib vogt for building a US$5 billion solar power and storage facility. The project is spread across 4000 hectares in the Riau Islands, Indonesia.
The project is expected to be completed by 2032 and once completed, it will meet 8% of the country’s electricity demands. It has capacity to generate 3.5 GW of solar PV and can store 12 GWh of renewable energy to be exported to Singapore.
Quantum engineers, finances, installs and operates renewable energy systems across Southeast Asia and is focused on delivering high-quality and reliable electricity that is generated by clean and renewable energy. The Quantum Team has a track record of renewable energy and direct investments in Indonesia for more than 50 years. In addition, we have closed deals in excess of US $5 billion. Quantum has also developed the first unsolicited utility-scale solar PV power plant in Indonesia which is now in operation. This plant is one of the largest single-axis tracking projects in South-East Asia.
Simon G. Bell, Managing Director and CEO, of Quantum Power Asia, said, “We are excited to partner ib vogt and present this major integrated initiative to EMA. Should we be successful in being awarded an import licence to Singapore, we will bring up to US$5 billion of capital into Indonesia from Singapore, creating more than 30,000 jobs to build what will become the largest PV-Storage System globally to date. It will also contribute significantly to Singapore’s journey towards carbon neutrality.”
Anton Milner, Managing Director (CEO), ib vogt, said, “This bilateral energy import initiative is a landmark project globally and will be a catalyst for the region’s transformation towards clean, carbon-free energy. Based on the work done together with Quantum Power Asia and Union Energy Corporation, we are confident we have submitted a compelling proposal to EMA in order to create sustainable long-term value both for Singapore and Indonesia.”
Ellen Teo, CEO of Union Energy Corporation and Executive Director of Union Power, said, “The recent volatility of energy prices and challenges faced by Singapore’s electricity market underscores the urgent need to review our supply of renewable energy. We are honoured to partner Quantum Power Asia and ib vogt in this transformational project which will greatly benefit Singapore homes, businesses and the nation at large as we progress towards net zero.”
Recently, Sunseap signed a Memorandum of Understanding with the Riau Islands provincial government to jointly develop large-scale solar energy storage and energy plants that will supply electricity to Singapore and the Riau Islands.
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