From right to left: Mr Juan Mas Valor, Chief Operating Officer at Vena Energy; Ms Aw Kah Peng, Chairman of Shell Companies in Singapore; Mr Puah Kok Keong, Chief Executive Officer at Energy Market Authority; Mr Teo Chee Hean, Senior Minister and Coordinating Minister for National Security, Singapore; Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Singapore; along with representatives from other organizations awarded Conditional Approval for renewable energy projects.
5 September 2024 – Vena Energy, a leading green energy solutions company in the Asia-Pacific region, in partnership with Shell Eastern Trading (Pte.) Ltd (“Shell”), announced the receipt of a Conditional Approval from the Energy Market Authority of Singapore (“EMA”) to export 400 megawatts (MW) of solar power from the Riau Islands, Indonesia, to Singapore.
The Conditional Approval was awarded today by EMA at the Indonesia International Sustainability Forum in Jakarta. This milestone follows the signing of a collaboration agreement in August 2023 between Vena Energy and Shell for the cross-border supply of renewable power generated by Vena Energy’s proposed hybrid project.
The project is set to generate over 2.6 Terawatt hours (TWh) of green energy annually, powered by more than 2 Gigawatts (GW) of solar PV plants and 8 Gigawatt hours (GWh) of utility-scale battery energy storage systems. This will provide Singapore with a dispatchable green energy solution based on semi-firm supply of renewable power, playing an important role in Singapore’s energy transition to a low-carbon future.
“Vena Energy is committed to supporting Singapore in achieving its renewable energy targets whilst also supporting the development of a renewable energy manufacturing supply chain in Indonesia. This project serves as a model of cooperation between Singapore and Indonesia, generating valuable investment opportunities and propelling both countries towards a more sustainable and prosperous future. We are pleased to receive this Conditional Approval, and we would like to thank the governments of Singapore and Indonesia for their support. We are proud to be a part of this transformative journey in engineering a greener future for both countries.” said Nitin Apte, CEO of Vena Energy.
“We are delighted that our partnership with Vena Energy has received Conditional Approval from Singapore’s EMA. As demand for energy continues to grow, the world must transition to low-carbon energy in a balanced way to achieve net zero emissions. The import of renewable energy from neighbouring countries will diversify Singapore’s energy mix and support the longer-term realisation of an ASEAN power grid,” said Aw Kah Peng, Chairman of Shell Companies in Singapore.
