Right People Renewable Energy (RPRE), a solar power developer led by Singaporean entrepreneur Robin Pho, has been acquired by EDPR Sunseap, another solar energy firm, for an undisclosed sum.
RPRE is a family business that pivoted to renewable energy in 2018, installing solar in remote parts of Indonesia. The company previously provided manpower to the oil and gas industry until Pho reengineered the business following the passing of his father.
Following the merger, Pho takes on the role of Indonesia country head for EDPR Sunseap. RPRE’s 10 staff will now move across to EDPR Sunseap.
Sunseap was acquired by European firm EDPR Renewables, the world’s fourth largest renewable energy producer, in February. Singapore now serves as the Asia Pacific hub for EDPR.
Pho’s team will focus on growing the business in Indonesia, a country under pressure to build-out clean energy capacity to meet a climate goal of net-zero emissions by 2060. The target that will be under the spotlight at the G20 Summit in Bali in November.
The acquisition comes at a period of brisk growth for renewables mergers in the region. The deal volume for renewable energy assets in Asia more than tripled last year, to US$13.6 billion, as the number of transactions jumped by 53 per cent year-on-year. Two-thirds of deals were in the solar sector.
