2.5GW Framework Agreement Signed by Suntech Power and Vena E
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This news is classified in: Sustainable Energy Solar

Aug 7, 2023

2.5GW Framework Agreement Signed by Suntech Power and Vena Energy to Explore Expansion of Indonesia's Renewable Energy Supply Chain

Suntech Power, a famous photovoltaic manufacturer devoted to the R & D and the production of crystalline silicon solar cells and modules for 22 years in the world, announced today the signing of a landmark framework agreement with Vena Energy, Asia-Pacific’s leading renewable energy company, along with Powin, an energy platform provider of integrated storage solutions, software and services and REPT Battero, a leading battery cell producer for energy storage systems, for the expansion of Indonesia’s renewable energy supply chain (“Framework Agreement”).

The Framework Agreement aims at exploring opportunities for the establishment of local production lines for components of solar photovoltaic panels and energy storage systems. These components are also intended to support Vena Energy’s hybrid megaproject in Riau Islands currently under development. The project is set to feature up to 2 GW of solar power capacity and a battery energy storage system potentially capable of storing in excess of 8 GWh of clean energy, making it one of the most significant renewable energy initiatives in Southeast Asia. The signing ceremony took place in Jakarta and was also the stage for the signing of a collaboration agreement between Vena Energy and Shell Eastern Trading (Pte.) Ltd for the cross-border supply of renewable power generated by Vena Energy’s proposed hybrid megaproject, to Singapore.

Under the auspices of the “Long-Term Strategy for Low Carbon and Climate Resilience 2050” announced by His Excellency President Joko Widodo in 2021, the Framework Agreement supports the Indonesian government’s aspirations of aligning climate goals with national and international objectives, emphasizing the development of local talents, enhancing climate literacy, and fostering sustainable economic growth. His Excellency, Mr. Rachmat Kaimuddin, Deputy Coordinating Minister for Infrastructure and Transportation, Coordinating Ministry of Maritime Affairs and Investment graced the occasion and witnessed the signing of the landmark Framework Agreement.

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“We are delighted to join hands with Suntech to expand Indonesia’s renewable energy ecosystem. Through the development of local talent and Suntech’s innovation and expertise, we believe we can build a strong and reliable renewable energy supply chain in Indonesia that will not only support our own project in the Riau Islands, but also pave the way for future projects and the realization of Indonesia’s net zero emissions goals,” said Nitin Apte, CEO of Vena Energy. “We are excited to work with Vena Energy as we explore new opportunities to use renewable power to help customers reduce their carbon emissions,” says Zee Loh, General Manager for Shell Energy Singapore.

As a global leading photovoltaic (PV) module manufacturer, Suntech has striven to deliver high-quality, reliable, and cost-effective PV products over the past 22 years. It will keep on devoting ourselves to supporting the development of the Indonesian market, and deliver the highest performance for customers. As the benchmark for quality within the photovoltaic industry, Suntech has also become a prime representative of China’s photovoltaic development capabilities to the world. By making steady efforts in the field of renewable energy, Suntech can enable businesses to achieve their sustainability goals, and contribute to the progress of a green and low-carbon ecosystem globally!

Suntech Power Holdings Co., Ltd.