-Xinhua Silk Road: SEG Solar and KITB sign long-term land lease for construction of solar cell and module facilities
WASHINGTON, June 26, 2023/PRNewswire/ -- SEG Solar (SEG) and PT Kawasan Industri Terpadu Batang (KITB), announced the execution of a binding agreement for the lease of approximately 41 hectares of land located in Batang Regency, Central Java , Indonesia, for a period of 80 years.
SEG intends to invest a total of US$500 million to develop the land for the construction of a 5GW solar cell production plant and a 3GW solar module manufacturing plant through PT SEG ATW Solar Manufaktur Indonesia , a joint venture project company. SEG has partnered with PT ATW Investasi Selaras (ATW Group) to assist with the development of the facilities locally in Indonesia.
The solar cell production line will vertically supply SEG's module factory in Houston, Texas, USA, ensuring full capability to trace components within the module supply chain. SEG aims to cooperate with other suppliers of photovoltaic components, including wafers, ingots, junction boxes, frames and EVA films, to establish manufacturing facilities in Indonesia.
Jim Wood, CEO of SEG, emphasized: "The country offers a supportive environment with favorable policies, tax breaks and abundant silicon resources."
Bahlil Lahadalia, Minister of Investment of the Republic of Indonesia, said: "This investment will create more than 2,000 jobs for the people of Indonesia and contribute significantly to the economic growth of the Batang region. The Indonesian government is committed to providing support fiscal, with the objective of fostering mutually beneficial results". The facility is scheduled to be completed in the second quarter of 2024 and will be one of the largest solar cell and module factories in Indonesia.
Founded in 2016, SEG is a leading vertically integrated photovoltaic manufacturer headquartered in Houston, Texas, USA. SEG will have more than 5.5 GW of global module production capacity by 2024.
Established in 2017, ATW Group is an Indonesia-based renewable energy investment company. ATW Group has more than 80 MWp in portfolio throughout the archipelago. KITB is the latest state-owned industrial estate in Indonesia that has been designated as one of the National Strategic Projects since its inception in 2020. KITB has 4,300 hectares of land, and development is carried out in three clusters.
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