Gurīn Energy Pte Ltd, a prominent pan-Asia renewable energy company headquartered in Singapore, is pleased to announce a significant milestone. Its joint venture, Vanda RE, in which Gurīn holds a 75% stake and Gentari International Renewables Pte Ltd holds 25%, has received a Letter of Conditional Approval from Singapore’s Energy Market Authority (EMA).
This conditional license is one of five jointly announced by the governments of Indonesia and Singapore, establishing a green electricity trading corridor between the two countries. Vanda RE’s pioneering infrastructure project aims to provide 300MW of non-intermittent renewable energy to the Singapore market, starting in 2027, to meet EMA’s 75% load factor requirement. The power generation will take place on the Riau islands, supported by 2,000MW of Solar Photovoltaic installed capacity and approximately 4,400 MWh of battery storage, making it one of the largest planned projects of its kind globally.
Vanda RE’s Conditional Approval is the result of substantial government-to-government cooperation between Indonesia and Singapore in the energy sector, including recent agreements and memoranda of understanding (MOUs) on low-carbon energy, cross-border electricity interconnection, renewable energy cooperation, and energy cooperation.
The electricity generated by Vanda RE’s facilities can be sold through long-term power supply agreements to commercial users in Singapore.
Vanda RE is a member of the Sustainable Energy Association of Singapore and forms part of the Pathfinder Consortium, along with EDPR Renewables APAC and Keppel Energy. Each consortium member has been granted a conditional license.The Pathfinder Consortium aims to build a 1GWac subsea cable to enable the trading of green electrons between Indonesia and Singapore through the Green Corridor Indonesia project. This project is expected to bring significant economic and social benefits to Indonesia, including attracting global clean energy technology suppliers, creating skilled clean energy technology jobs, and mobilizing substantial foreign direct investment.
As part of its investment in generation and storage facilities, Vanda RE and the Pathfinder Consortium will partner with leading global PV and battery energy storage suppliers committed to investing in solar PV and Battery Energy Storage Systems manufacturing plants in Indonesia, contributing to the development of a local renewable energy manufacturing industry.
Assaad W. Razzouk, CEO of Gurīn Energy, said:
“Transitoning economies to clean energy is critcal to fightng climate change. A key enabler is regional grids focused on green electrons and we are delighted to be associated with Indonesia’s and Singapore’s significant efforts in this regard. We are excited to be able to play our part – through Vanda RE’s nearly US$3 billion planned project – in helping to mobilise foreign direct investment for Indonesia and in supportng the de-carbonisaton of Singapore’s energy supply to fuel ASEAN lifestyles with clean energy.”
Vimal Vallabh, Global Head of Energy at Morrison & Co and Chairman of Gurīn Energy, said:
“Our ambition is to expand our presence in Asia, and we’re excited to be working with the Gurīn team to make a significant contribution to the region’s growing demand for electricity and increasing national commitments to decarbonisation. Following the establishment of Gurīn in 2021, we have been building our team in Singapore to enable clients to invest in local infrastructure. Morrison & Co has been investing in renewable energy since 1994, partnering with and backing experienced teams to develop and operate high quality renewable energy portfolios around the world.”