Equator Renewables Asia (ERA), founded by entrepreneur Frank Phuan, has raised S$50 million to support the development of large-scale solar, green hydrogen, and sustainable industrial zone projects across Indonesia.
The funding round includes S$30 million from strategic cornerstone investors KPN Corporation, an Indonesian agribusiness conglomerate, and Singapore-based enterprise Tsao Pao Chee (TPC). The remaining S$20 million will be contributed by Phuan, who serves as ERA’s Chief Executive Officer, along with the company’s management team.
ERA was established in 2025 by Phuan following the sale of his renewable energy firm Sunseap Group to Portugal’s EDP Renováveis (EDPR). Through ERA, Phuan aims to continue advancing decarbonisation initiatives across Southeast Asia and the broader Asian region.
As part of its initial progress, ERA has secured Conditional Approval and a Conditional Import License from the Energy Market Authority (EMA) in Singapore to import up to 400 MW of renewable power from Indonesia.
The initiative aligns with a Memorandum of Understanding (MoU) signed between Singapore and Indonesia on 13 June 2025 to develop a Sustainable Industrial Zone (SIZ) across the Batam, Bintan, and Karimun regions. The proposed zone aims to become a regional hub for clean energy manufacturing, battery storage, and logistics, supporting green industrialisation and sustainable investment flows.
Both countries have set long-term climate targets, with Singapore aiming to achieve net-zero emissions by 2050 and Indonesia targeting net zero by 2060.
ERA’s flagship cross-border energy initiative is expected to contribute to the broader ASEAN Power Grid vision, which seeks to strengthen regional electricity connectivity and enable large-scale renewable energy trading within Southeast Asia.
As part of the investment, Brian J. Chen, Director at KPN and a personal investor in ERA, and Robin Pho, Managing Director for Energy Transition at Tsao Pao Chee, will join ERA’s board of directors.
Chen noted that the investment aligns with KPN’s strategy to support the energy transition in Indonesia. The company controls extensive landbanks through its agribusiness operations and plans to repurpose portions of these areas for utility-scale solar, battery storage, and green hydrogen production.
Pho highlighted that TPC is advancing an integrated energy transition strategy that spans renewable power, energy storage, industrial electrification, and low-carbon fuels, alongside nature-based solutions and carbon markets. He added that TPC’s background in shipping and logistics supports the development of end-to-end energy corridors linking Indonesia and Singapore, including the production, storage, and maritime transport of green hydrogen.
Phuan described the funding round as a significant milestone for ERA’s mission to support the decarbonisation of both Singapore and Indonesia while facilitating the development of sustainable industrial zones.
ERA’s current project pipeline in Indonesia includes multiple solar PV developments with a combined capacity of 2.2 GWp, alongside 3.2 GWh of battery energy storage systems and new green hydrogen production initiatives. The company aims to scale these projects to support regional clean energy infrastructure and the growth of a low-carbon industrial ecosystem.
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