EREN Renewable Energy strengthens its operations in Southeast Asia

EREN Renewable Energy has announced the incorporation of its regional headquarters, EREN Development Asia, in Singapore. This office will coordinate EREN RE’s business development activities across Southeast Asia.

EREN RE’s strategy is to develop a significant portfolio of wind and solar power assets, targeting over USD 500 million in Capex in Southeast Asia within the next five years.

“Renewable energy is an obvious solution in a region endowed with good wind and solar resources and striving to answer fast growing electricity demand. These favorable conditions make renewable energy a competitive and attractive alternative, especially given high local energy prices. EREN RE is determined to accompany the region’s energy transition, and to become a renewable energy leader in Southeast Asia”, commented David Corchia, CEO of EREN RE.

EREN RE aims at establishing partnerships with experienced developers showing strong local knowledge and understanding of each country’s specific needs. In July, EREN launched “PACE Energy”1, a joint-venture with CWP Energy Asia to develop wind projects in Indonesia, and signed a joint-development agreement with The Blue Circle (Singapore-based wind developer, primarily operating in the Mekong region) for wind projects in Thailand.

EREN RE is also looking for new partnerships and actively investigating project opportunities in the solar photovoltaic market across the region.

Acting as an independent power producer, EREN RE’s strategy is to get involved early in project development to enhance value creation while owning the assets on the long term.

On the short to medium-term, EREN RE plans to open other offices in neighboring countries, notably in Indonesia and Thailand, to further deploy its commercial presence and venture into other renewable energy markets of the region.