SINGAPORE , Sept. 8, 2023 /PRNewswire/ -- Pacific Medco Solar Energy Pte Ltd ("PMSE"), a company owned by Pacificlight Renewables Pte Ltd, a Singapore- based renewable energy company managed by First Pacific Company Limited and Meralco Corporation. Medco Power Global, PT Medco Power Indonesia (“Medco Power”), a leading independent power producer in Indonesia , and Gallant Venture Ltd, a Salem Group company, have been awarded a conditional contract by the Energy Market Authority (“EMA”). ). A 600 MW solar project to import competitive and reliable renewable energy from the Indonesian island of Bulan to Singapore via a dedicated high-voltage submarine cable (“Bulan Solar Project”).
Mr Rahmah Kaymuddin , Deputy Minister for Maritime Affairs and Investment, Ministry of Integration and Second Minister for Trade and Industry of Singapore , at the Indonesia Sustainable Development Forum Summit in Jakarta today . The conditional award was announced in the presence of Tan Si Ling . .
The project will install more than 2,000 MW of solar PV systems and 500 MW of battery storage. The project is expected to be completed in 2028. This will play an important role in Singapore's energy transition towards a low-carbon future to achieve the total import target of 4 GW by 2035, which is expected to be about 30% of Singapore's imports . Total power supply.
“Pacificlight is committed to playing its part in helping Singapore achieve its renewable energy goals and is proud to be part of this transformative journey and pave the way for a cleaner, more sustainable energy landscape in Singapore ,” said Yeo Tat Ming . Director of Pacificlight Renewables.
Eka Satria, CEO of Medco Power, said: “The Bulan Solar Project crosses national borders and provides reliable, long-term renewable energy to Singapore , and supports the development of Indonesia ’s renewable energy sector through investment by global companies Solar and PES.” project"
Jantu Gunara, CEO and COO of Gallant Ventures, highlighted the multi-faceted importance of this initiative. “The Bulan Solar Project represents the intersection of renewable energy, cross-border partnerships and sustainable investment. “This project serves as a model for cooperation between Indonesia and Singapore , creating valuable investment opportunities and leading both countries to a more sustainable and prosperous future.”
Note: In October 2021, the European Medicines Agency granted a key license to the consortium to import a 100 MW pilot project. The conditional grant of 600 MW covers the pilot project's capacity of 100 MW.
In addition to the recent approval by Indonesian authorities, the consortium will conduct an offshore study of high-voltage submarine electrical cables as part of the next phase of the project's development. PMSE will continue to work closely with original equipment manufacturers (OEMs) to develop PV and BESS production capacity in Indonesia .
PacificLight Renewables Pte Ltd is a renewable energy company committed to achieving a greener future for Singapore through innovative renewable energy solutions including the Bulan Solar Project.
PacificLight Renewables is owned by First Pacific Company Limited and Meralco PowerGen Corporation.
First Pacific Company Limited is a Hong Kong based investment firm that invests in the Asia Pacific region . Significant investments are being made in consumer foods, communications, infrastructure and natural resources. https://www.firstpacific.com
MERALCO PowerGen is the power generation division of Manila Electric Corporation, the largest private power distribution company in the Philippines . https://www.meralcopowergen.com.ph .
Founded in 2004, PT Medco Power Indonesia is an independent power production company of MedcoEnergi, operating in the independent power production and operation and maintenance sectors. Medco Power owns and operates power plants with a total capacity of more than 3.3 GW at 15 sites in Indonesia , including the world's largest single-contract geothermal facility and the 275 MW Riau combined cycle power plant. and a 26.8 MW solar PV project in Sumbawa.
In addition to existing operations, Medco Power is currently developing a 2 x 55 MW geothermal power plant in Plawan Isen, East Java, as well as 2 x 25 MW solar PV projects in Bali . https://medcopower.co.id/
Medco Power is a wholly owned subsidiary of PT Medco Energi Internasional Tbk (MedcoEnergi) , a leading energy and natural resources company in Southeast Asia listed on the Indonesia Stock Exchange. MedcoEnergi has three main business segments: oil and gas, power and mining. MedcoEnergi primarily explores and produces oil and gas in Indonesia and is expanding its presence in Southeast Asia. https://www.medcoenergi.com
Gallant Ventures Limited is a Singapore- listed company focused on business development and growth opportunities in the Riau Archipelago , Indonesia . Since its inception in the 1990s, Gallant Ventures has been a major innovator in its key business sectors: utilities, industrial parks, resorts, real estate development and automotive. As the lead integrated designer and developer of industrial parks and resorts in Batam and Bintan, Gallant Ventures develops, owns and operates the Batamendu Industrial Park in Batam and Bintan Industrial Park in Bintan. Both industrial parks are home to many multinational companies with their regional headquarters in Singapore . The main shareholder of Gallant Ventures is Indonesian company Salim Group . http://www.gallantventure.com/
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SOURCE Pacific Medco Solar Energy Pte Ltd.
