ACEN Corp. subsidiary ACEN Indonesia Investment Holdings Pte. Ltd. has entered into an investment agreement and shareholders’ agreement with Indonesian firm, PT Trisuya Mitra Bersama to form joint venture (JV) company, PT Puri Prakarsa Batam.
ACEN said in a disclosure to the Philippine Stock Exchange yesterday the JV will focus on renewable energy (RE) projects in Indonesia, mainly for large-scale solar power plants, battery energy storage system and green hydrogen.
The company added the JV was formed after a platform for the development of renewable energy projects in Indonesia was first discussed by the Puri Usaha Group and ACEN through its subsidiary, ACEN Renewables International Pte Ltd was discussed in May 2022.
ACEN has a diversified portfolio of 4.3 gigawatts (GW) in RE, both operational and under construction with 1.6 GW in the Philippines and the rest scattered throughout Australia, Vietnam, Lao People’s Democratic Republic, India, Indonesia and other markets including the United States.
