Renewable Wind and Solar Energy Project Development Underway;

Indonesia Ideal for Power Island Floating Storage Regasification & Power Solutions

JAKARTA, Indonesia & SINGAPORE--(BUSINESS WIRE)--Twenty20 Energy, which delivers innovative energy solutions that accelerate the transition to a cleaner energy future, signed a Memorandum of Understanding (MOU) with PT Satyamitra Surya Perkasa (PT SSP), a proven engineering, procurement, and construction (EPC) company in Indonesia, to jointly propose innovative clean energy and renewable power generation solutions throughout Indonesia.

Development teams from Twenty20 Energy and PT SSP are working together to pursue power generation opportunities within the Indonesian market, while the two companies� design and operations teams will jointly create power generation solutions that fit the unique needs and geographies of Indonesia.

Twenty20 Energy and PT SSP are collaborating to develop renewable, solar and onshore wind energy solutions. The two companies are conducting due diligence on a shortlist of appropriate locations for these projects.

Twenty20 Energy and PT SSP also believe Indonesia is an ideal market for Twenty20�s proprietary Power Island Floating Storage Regasification & Power (FSRP) solution, which is specifically designed for regions comprised of multiple islands and coastal communities desiring to transition from coal-fired or subsidized diesel generation to more environmentally friendly solutions.

�Indonesia is one of the most populous archipelago countries in the world with global commercial interests,� said Jim Schnieders, Twenty20 Energy�s president, who has extensive experience working in Indonesia. �Because of its geography, and its many remote and distanced island chains, getting power to the entire country has been a challenge. We�ve engineered several innovative solutions and believe by working with PT SSP, we can help to address the power infrastructure issues in many of these locations.�

Although Indonesia has continued to improve its electrification rate, pressing needs remain as many of its remote islands and communities subsist on costly subsidized diesel generation or aging power generation and transmission assets powered by coal-fired generation. Perusahaan Listrik Negara (PLN), the national utility and state-owned company, has stated aggressive goals in its national power master plan (RUPTL) and is seeking to transition its power generation plants from largely coal and diesel to natural gas and renewable energy sources. The Indonesian government has stated goals to increase power generated from renewable sources from 9.15% in 2019 to 23% in 2025, and 31% in 2050, achieving net zero emissions in 2060. The expectation is that 635 gigawatt would be supplied via renewable sources.

�PT SSP, as a proven power EPC provider in Indonesia, is pleased to collaborate in partnership with Twenty20 Energy and looks forward to building on our long-term cooperation with clean and renewable energy solutions in Indonesia and the adjacent Asian markets,� said Eric Aristanto, director of PT SSP. �As PT SSP moves through our own IPO this year, we look forward to developing, executing and operating projects in partnership with Twenty20.�

About Twenty20 Energy

Twenty20 Energy delivers innovative energy solutions that enable clients, partners, and stakeholders to accelerate a transition to a cleaner energy future. From concept development to operations and maintenance, Twenty20 provides engineering, project execution and asset management, coupled with the capacity to provide funding or shared ownership positions. Uniquely positioned in the energy landscape, Twenty20 has a global reach with local sensitivity, developing projects that deliver cleaner energy while empowering economic growth for today and beyond.

About PT Satyamitra Surya Perkasa

PT Satyamitra Surya Perkasa (PT SSP) was established in 1988 and is headquartered in Jakarta. PT SSP has established a strong presence in Indonesia and is recognized as one of the leading Indonesian engineering procurement construction companies with extensive international client experience. PT SSP provides Civil, Mechanical and Electrical/Instrumentation works to the Power Plant, Chimney/Refractory, Chemical & Petrochemical Plant, Storage Tank Terminal, Onshore Oil & Gas, Oil Refineries Infrastructure and Industrial Building sectors.

Contacts

Bob Zeitlinger / Makovsky

[email protected] / 551 427 7298