US solar panel company, SEG Solar Inc, is investing in the Batang Integrated Industrial Area (KIT B). The investment is said to reach IDR 7.5 trillion.
In a press statement on Sunday (25/6/2023), SEG Solar Inc, along with its Indonesian partner, ATW Group, a solar panel and module company from the United States, is ready to invest in KIT B with a total of $500 million or IDR 7.5 trillion. The money will be used to lease an area of 41 hectares to develop land for the construction of a 5GW solar cell production facility and a 3GW solar module manufacturing facility.
It is stated that a memorandum of understanding (MoU) was signed between PT KIT B and PT ATW Investasi Selaras, representing SEG Solar Inc, at the Hannover Messe event last April. Then, on Friday (23/6), a Pre-Cooperation Agreement was signed between SEG Solar Inc and ATW Group with KIT B.
The Pre-Cooperation Agreement was directly signed by the President Director of KIT B, Ngurah Wirawan, CEO of SEG Solar Inc, Jim Wood, Founder of ATW Group, Antonius Weno, and Director of ATW Group, Victor Samuel, at the Embassy of the Republic of Indonesia to the United States in Washington DC.
This moment was witnessed by the Minister of Investment, Bahlil Lahadalia, and the Extraordinary and Plenipotentiary Ambassador of the Republic of Indonesia to the United States, Rosan Perkasa Roeslani.
SEG CEO, Jim Wood, explained the reasons for choosing Indonesia as the location for this significant investment. “We have conducted a comprehensive evaluation of various factors, and Indonesia has emerged as an ideal destination for foreign investment. This country offers a supportive environment with favorable policies, tax benefits, and abundant resources,” said Jim Wood.
Meanwhile, the President Director of KIT B, Ngurah Wirawan, hopes that by partnering with SEG, more renewable energy production can be brought to Indonesia.
“This is a ‘win-win’ collaboration that will ensure a stable and cost-effective supply of core materials for SEG’s solar modules and create job opportunities for the local economy in Indonesia,” Ngurah Wirawan explained.
According to him, the strategic decision to choose SEG to operate in Indonesia has strengthened KIT B’s commitment to meet the increasing demand for solar energy and energy self-sufficiency in Indonesia.
Furthermore, Ngurah Wirawan added that the Indonesian government is currently targeting Net Zero Emission through the acceleration of solar panel industry development for Renewable Energy (EBT) in Indonesia.
“The presence of SEG Solar Inc will have a significant impact on accelerating the implementation of renewable energy in Indonesia. As a bonus, the presence of SEG Solar Inc will also pave the way for Batang residents to fill the labor market’s needs,” Ngurah Wirawan explained.
According to Ngurah, at least 2,000 workers will be needed for SEG Solar Inc.
In the same opportunity, he added that KIT B, with a total land area of 4,300 hectares divided into 3 clusters, is currently focusing on developing 3,100 hectares in Cluster 1.
In Phase 1 of Cluster 1, which covers an area of 450 hectares, it is already fully occupied by 12 industrial tenants and will be ready for operation by the end of 2023.
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