Equator Renewables Asia (ERA) has raised S$50 million to develop large-scale solar, green hydrogen and sustainable industrial zone projects across Indonesia, backed by KPN Corporation and Tsao Pao Chee.
The funding round includes S$30 million from KPN and Tsao Pao Chee as cornerstone investors, while the remaining S$20 million is being contributed by ERA’s founder and CEO Frank Phuan and the company’s management team. ERA was established in 2025 by Phuan following his exit from Sunseap Group, which was acquired by Portugal’s EDPR.
The company is focused on advancing cross-border clean energy solutions between Indonesia and Singapore. It has already secured conditional approval and an import licence from Singapore’s Energy Market Authority to supply up to 400 MW of renewable power from Indonesia.
The investment aligns with a bilateral initiative between Singapore and Indonesia to develop Sustainable Industrial Zones (SIZ) in Batam, Bintan and Karimun, aimed at creating a regional hub for clean energy manufacturing, storage and logistics. These efforts also support both countries’ net-zero targets for 2050 and 2060, respectively.
ERA’s current project pipeline includes 2.2 GWp of solar capacity, 3.2 GWh of battery energy storage systems and green hydrogen production facilities. The company said the projects will contribute to regional decarbonisation and support the broader ASEAN Power Grid vision.
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