Vena Energy Granted EMA Conditional Approval to Export 400MW of Solar Power from Indonesia’s Riau Islands to Singapore

Vena Energy, a leading green energy solutions provider in the Asia-Pacific region, in partnership with Shell Eastern Trading (Pte.) Ltd, announced that they have received Conditional Approval from the Energy Market Authority of Singapore (EMA) to export 400 megawatts (MW) of solar power from the Riau Islands, Indonesia, to Singapore.

The Conditional Approval was granted today by EMA at the Indonesia International Sustainability Forum in Jakarta. This milestone comes after Vena Energy and Shell signed a collaboration agreement in August 2023 for the cross-border supply of renewable energy generated by Vena Energy’s proposed hybrid project.

The project is expected to generate over 2.6 Terawatt hours (TWh) of green energy annually, utilizing more than 2 Gigawatts (GW) of solar photovoltaic (PV) plants and 8 Gigawatt hours (GWh) of utility-scale battery energy storage systems. This initiative will provide Singapore with a dispatchable green energy solution based on a semi-firm supply of renewable power, playing a crucial role in the country’s transition to a low-carbon future.

Nitin Apte, CEO of Vena Energy, expressed the company’s commitment to supporting Singapore’s renewable energy targets while also fostering the development of a renewable energy manufacturing supply chain in Indonesia. “This project serves as a model of cooperation between Singapore and Indonesia, generating valuable investment opportunities and driving both countries toward a more sustainable and prosperous future. We are pleased to receive this Conditional Approval and thank the governments of Singapore and Indonesia for their support.”

Aw Kah Peng, Chairman of Shell Companies in Singapore, added, “We are delighted that our partnership with Vena Energy has received Conditional Approval from Singapore’s EMA. As demand for energy continues to grow, the world must transition to low-carbon energy in a balanced way to achieve net-zero emissions. The import of renewable energy from neighboring countries will diversify Singapore’s energy mix and support the longer-term realization of an ASEAN power grid.”