S$50M raised for green H2 and solar

Equator Renewables Asia was founded by Frank Phuan, who set up ERA after selling his stake in Sunseap to Portugal’s EDPR, and the company announced the funding round in a March 10, 2026 press release. eco-business.com Cornerstone investors KPN Corporation and Tsao Pao Chee together contributed S$30 million, while Frank Phuan and ERA’s management put in the remaining S$20 million, according to the company disclosure. fuelcellsworks.com ERA’s disclosed Indonesia pipeline comprises about 2.2 GWp of solar PV and roughly 3.2 GWh of battery energy storage systems, alongside new green‑hydrogen production initiatives. fuelcellsworks.com The firm has secured Conditional Approval and a Conditional Import Licence from Singapore’s Energy Market Authority to import up to 400 MW of renewable power from Indonesia, and cites the June 13, 2025 MOU to develop a Sustainable Industrial Zone in Batam, Bintan and Karimun. eco-business.com Brian J. Chen (KPN director) and Robin Pho (Managing Director, Energy Transition of Tsao Pao Chee) have been named to ERA’s board, and KPN has said it will repurpose portions of its extensive Indonesian landbanks for utility‑scale solar, battery storage and green‑hydrogen facilities. eco-business.com ERA frames its flagship work as building a regional hub for clean manufacturing, battery storage and logistics under the Sustainable Industrial Zone concept, positioning projects to feed cross‑border decarbonisation efforts and link with ASEAN Power Grid ambitions. fuelcellsworks.com