Singapore, 10 March 2026 – Equator Renewables Asia (ERA), founded by entrepreneur Frank Phuan, has raised S$50 million for large-scale solar, green hydrogen and sustainable industrial zone projects across Indonesia, with backing from Indonesia’s agribusiness conglomerate KPN Corporation (KPN) and Singapore-based purpose-led enterprise Tsao Pao Chee (TPC).
KPN and TPC are among strategic cornerstone investors who have contributed S$30 million, while the remaining S$20 million will come from Mr Phuan, ERA’s Chief Executive Officer, and ERA management. ERA was set up last year by Mr Phuan after he sold out of his Sunseap Group, of which he was Co-Founder, to Portugal’s EDPR.
In his second act in the solar energy industry, Mr Phuan remains focused on his mission of decarbonising Southeast Asia and the rest of Asia. ERA has, as a start, secured Conditional Approval and a Conditional Import License from Singapore’s Energy Market Authority (EMA) for up to 400 MW of renewable power from Indonesia.
On 13 June 2025, Singapore and Indonesia signed a Memorandum of Understanding (MOU) to develop a Sustainable Industrial Zone (SIZ) in the Batam, Bintan and Karimun regions. This initiative aims to establish a regional hub for clean energy manufacturing, battery storage and logistics, enhancing green industrialisation and attracting sustainable investment.
Both countries are working toward cutting their carbon emissions and reaching net zero by 2050 and 2060, respectively.
ERA’s flagship project to connect Indonesia and Singapore in their decarbonisation initiatives represents an important step towards the broader ASEAN Power Grid initiative.
ERA said Mr Brian J. Chen, Director of KPN and a personal investor in ERA, and Mr Robin Pho, Managing Director, Energy Transition of TPC, will join the board of directors of ERA.
Mr Chen said: “This investment is highly synergistic and demonstrates KPN’s strong willingness to participate in the green energy transition. KPN controls extensive landbanks from its agribusinesses across Indonesia. We are committed to repurposing portions of this land for utility- scale solar, battery storage, and green hydrogen production. Partnering with ERA allows us to accelerate that green transition while leveraging ERA’s proven development expertise and regulatory progress in both Singapore and Indonesia.”
Mr Pho said: “TPC is advancing an integrated Energy Transition and Regenerative Infrastructure strategy, investing across renewable power, electrons and green molecules, energy storage, industrial electrification, energy efficiency, nature-based solutions, and carbon markets. Our focus is to enable the decarbonisation of real-economy sectors while supporting the restoration and recarbonisation of natural systems. We build bankable, scalable infrastructure that strengthens regional energy security and long-term resilience. Drawing on our heritage in shipping and logistics, TPC supports the production, storage, and maritime transport of green hydrogen and low-carbon fuels. This includes developing end-to-end energy corridors linking Indonesia and Singapore, accelerating the shift toward a low-carbon, regenerative economy.
“Energy Transition is one of the six strategic pillars through which TPC advances its Well-being Economy, aligning long-term prosperity with the resilience of people, systems, and the planet.”
Mr Phuan said: “This fundraiser is a pivotal step in ERA’s mission to help Singapore and Indonesia decarbonise while supporting the development of sustainable industrial zones.
“With backing from partners who bring land, logistics, regulatory alignment and board-level commitment, and more importantly, a shared focus on impact, we are ready to scale multiple solar projects, green hydrogen facilities, and cross-border infrastructure that align with Singapore and Indonesia’s intention to establish a regional green hub.”
ERA’s project portfolio in Indonesia includes multiple solar PV developments with an aggregate capacity of 2.2 GWp, 3.2 GWh of battery energy storage systems, and new green hydrogen production initiatives.
About Equator Renewables Asia
Equator Renewables Asia is a renewable energy developer specialising in solar, battery storage, cross-border interconnection, and green hydrogen. The leadership team brings decades of regional experience, including the founding and scaling of Sunseap Group.
About KPN Corporation
KPN Corporation is a major agribusiness, building products, and property conglomerate with significant landholdings across Indonesia. The group actively supports green energy transition investments that repurpose the group’s landbank for solar, energy storage, and green hydrogen.
About Tsao Pao Chee Group
TPC (Tsao Pao Chee) is a fourth-generation family business headquartered in Singapore, committed to advancing a Well-being and Happiness Economy through purposeful enterprise and long-term stewardship. With over 120 years of legacy in maritime logistics and industrial supply chain management, TPC is evolving into a purpose-led ecosystem where performance and impact move as one. Today, our portfolio spans industrial supply solutions, lifestyle businesses, and impact investing — supported by a unique three-in-one non-profit platform focused on collaborative partnerships, leadership development, and ecosystem-building across Asia.
Our transition strategy is rooted in restoring biodiversity through social transformation — bridging urban, rural, and ocean-based economic systems across six interconnected pillars: Well-being, Climate & Nature, Energy Transition, Food Systems, Circular Economy, and Human Construct. With regional offices in People’s Republic of China, Thailand, Indonesia, and Japan, TPC, together with IMC Industrial, OCTAVE, NO.17 Foundation, and Restore Nature Foundation, continues to build trusted partnerships and integrated platforms that redefine business as a force for life— redirecting capital and intention to shape a future where prosperity and purpose are one.
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