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Eren RE drops anchor in Singapore with USD-500m investment plan

Solar park in Indonesia. Author: Bart Speelman. License: Creative Commons. Attribution 2.0 Generic

September 30 (SeeNews) - Eren Renewable Energy has opened regional headquarters in Singapore as it plans to spend more than USD 500 million (EUR 447.7m) on wind and solar projects in Southeast Asia over the next five years.

The renewable power producer, which is part of France's Eren Groupe, said that the new regional headquarters will coordinate its business development activities across all of Southeast Asia. However, it also plans to open offices in neighbouring countries such as Indonesia and Thailand in the short to medium term.

The company will proceed by forming alliances with developers demonstrating significant local knowledge of each country’s specific needs, it noted. One such partnership was established in July with CWP Energy Asia. Named PACE Energy, this joint venture looks to develop wind projects in Indonesia. In the meantime, Eren RE has also sealed a deal with Singapore-based The Blue Circle to jointly develop wind projects in Thailand.

Eren RE added it is actively looking for opportunities in the solar photovoltaic (PV) market across the region.

(USD 1.0 = EUR 0.896)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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