INA invests in Vena Group’s 2.8 GW renewable energy portfolio
Detailed summary
Indonesia’s sovereign wealth fund is investing under a partnership with the Singapore-based solar and wind developer in projects at home and in the Philippines as part of a wider aim to accelerate the region's energy transition.
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Indonesia’s sovereign wealth fund is investing under a partnership with the Singapore-based solar and wind developer in projects at home and in the Philippines as part of a wider aim to accelerate the region's energy transition.
he Indonesia Investment Authority (INA) has invested in a 2.8-gigawatt renewable energy portfolio developed by Singapore-based Vena Group comprising solar and wind projects that are operational, under construction, contracted and in development across the country as well the Philippines.
The partnership brings together the sovereign wealth fund’s long-term investment mandate and focus on sustainable infrastructure with Vena Group’s extensive renewables development, construction and operating capabilities across the Asia-Pacific, according to a joint statement released on Wednesday.
“We look for investments that stand on their commercial merits while retaining clear strategic relevance for Indonesia,” INA chief executive Oki Ramadhana stated.
“Together, we see a foundation for further investment in renewable energy, both in Indonesia and across the region.”
The investment aligned with green energy, one of INA’s priority sectors, and was anchored in Indonesia through operating solar and wind assets and a pipeline of further development opportunities in the country, the statement said.
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The transaction would give the fund exposure to Vena Group's regional renewable energy business while allowing it to bring in institutional capital for expansion and construction.
Opening of the article, excerpted from The Jakarta Post. To read the rest, open the article on the publisher's site.
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