Vanda RE Pte Ltd, a joint venture company majority-owned by Singapore company Gurīn Energy, announced on Tuesday, September 10, 2024, today that it has been awarded a Conditional License by Singapore’s Energy Market Authority (EMA) to provide electricity to the island state.
EMA is the government agency that drives the advancement of Singapore’s green and renewable energy future.
The Conditional License was granted to Vanda RE at the Indonesia International Sustainability Forum in Jakarta last week, in recognition of technical and commercial viability of Vanda’s export project as well as its demonstrated ability to meet the requirements of both Indonesia and Singapore. Previously, Vanda RE received Conditional Approval from the EMA in 2023.
The announcement caps off a week of remarkable progress for Vanda RE. The company last week unveiled a major agreement with a leading solar panel manufacturer to provide 1.2 GW of cutting-edge solar photovoltaic panels for its Vanda Solar & Battery Project.
The Vanda Solar & Battery Project is a utility-scale solar and energy storage development, underpinned by 2,000 MW of solar PV installed capacity and 4,400MWh of battery storage, ranking it among the largest planned projects of its kind in the world.
Once operational in 2028, the project will supply Singapore with 300MW of non-intermittent, zero-emission electricity – enough energy to power 390,000 households in Singapore each year. The project is part of a joint plan by the Indonesian and Singaporean governments to establish a green electricity trading corridor between the two countries.
“The Conditional License is testament to the strides that Vanda RE, together with our partners and stakeholders, has made since attaining Conditional Approval last year. I am particularly delighted that just this week, we have signed both a framework supply agreement with Trinasolar to provide 1.2GW of advanced modules for our project; and obtained the Conditional License from the EMA to deliver 100 percent renewable energy to Singapore in 2028,” Assaad Razzouk, Chief Executive Officer of Gurīn Energy, said in a statement on Tuesday.
Gurīn Energy Pte Ltd is a Singapore-headquartered renewable energy developer. Its team of approximately 80 people across North Asia and Southeast Asia is focused on the development, ownership and operation of solar, wind and BESS assets.
Gurīn Energy is a listed infrastructure investment company which has also established renewable energy platforms in the United States, Europe and Australia, holding a development pipeline of over 30GW across four continents and 29 markets.
Gurīn Energy currently has 7GW of solar, wind and storage projects in various stages of development in Indonesia, Singapore, Malaysia, Thailand, the Philippines, South Korea and Japan.
