Quantum Power Asia and IB Vogt Launch JV to serve the Large-Scale Off-Grid Sector in Indonesia and Southeast Asia

The JV Partnership will engineer, finance, and operate PV-Hybrid Technologies for commercial and industrial clients in Indonesia as well as other countries in the region supporting private companies in their push to achieve net-zero emissions.

Singapore – 30 August 2021 – Quantum Power Asia announced today the establishment of a joint venture (JV) investment partnership with ib vogt to deploy PV-Hybrid technologies at the facilities of commercial and industrial clients in Indonesia and other countries in Southeast Asia. The partnership, intends to implement a minimum of 100 MW of renewable energy projects, significantly contributing to client carbon emission reduction. 

Growing Electricity Demand and Massive PV-Generation Potential

Indonesia is a resilient growing economy and expanded opportunities even despite the pandemic. The development of the country’s clean energy infrastructure, however, is still lagging despite the large regional demand and excellent environmental conditions for renewable energy. This is – similar to other countries in the region – largely due to a lack of access to the development of bankable projects that can attract large scale investments, and a hesitation of utilities and regulators to create the necessary business environment.

The JV will contribute a combination of much needed investments and integrated development expertise. This will allow for rapid development of renewable electricity generation capacity by enabling off-takers to cut through regulatory hurdles to achieve their carbon reduction and RE100 commitments. 

Improved Fuel Economy and Reduced Supply Chain Risks

One key aspect of the JV will be to provide higher levels of independence from fossil fuels for electricity generation at remote industrial sites where PV-Hybrid power solutions can be used to generate some, or the majority, of the daytime electricity load. This has far-reaching positive effects as it reduces supply-chain risks & maintenance, while simultaneously improving fuel economy and reducing emissions.

The JV will also allow grid-connected consumers and facilities to reduce their reliance on fossil fuel-based electricity including those from the utility grid. This will enable a reduction in electricity generation costs, while improving regional governments’ ability to achieve renewable energy-based electricity generation targets and carbon reduction commitments from corporations.

Plenty of Room to Scale 

The initial scope of the JV is set to 100 MW but according to Simon G. Bell, Managing Director of Quantum Power Asia, this is just the start. When asked to comment on the deal, he explained: 

“South-East Asia has a large and growing need for additional electricity generation capacity, and there is significant potential for PV-Hybrid systems to take centre stage in the C&I market. Quantum has developed a pipeline of renewable energy projects in excess of 300 MW in South East Asia. This newly launched JV collaboration with ib vogt, will further develop our pipeline and will enable us to invest significantly more than the initial 100 MW PV-Hybrid joint commitment over the next couple of years.”

ENDS.

About Quantum Power Asia

Quantum engineers, finances, installs and operates renewable energy systems across Southeast Asia and is focused on delivering high-quality and reliable electricity that is generated by clean and renewable energy. The Quantum Team has a track record of renewable energy and direct investments in Indonesia for more than 50 years. In addition, we have closed deals in excess of US $5 billion. Quantum has also developed the first unsolicited utility-scale solar PV power plant in Indonesia which is now in operation. This plant is one of the largest single-axis tracking projects in South-East Asia. For more information on Quantum, please visit www.quantumpower.com.sg

If you have any questions for us, please feel free to contact us via the contact form provided below.