Morrison & Co’s portfolio company Gurīn Energy, a pan-Asia renewable-energy business headquartered in Singapore, has announced that its joint venture Vanda RE, 75 percent owned by Gurīn and 25 percent owned by Gentari International Renewables, has been awarded a letter of conditional approval from Singapore’s Energy Market Authority (EMA).
The conditional approval was one of five announced jointly by the Indonesian and Singapore governments to establish a green electricity trading corridor between the two countries.
Vanda RE’s groundbreaking infrastructure project plans to deliver 300 megawatts of non-intermittent renewable energy to the Singapore market, beginning in 2027, to meet EMA’s 75 percent load-factor requirement. The power generation is planned on the Riau islands and underpinned by 2,000 megawatts of solar photovoltaic-installed capacity and 4,400 megawatt hours of battery storage — one of the largest planned projects in the world.
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