Jakarta, May 15, 2024. A new era of renewable energy in Southeast Asia has begun with today's monumental announcement. SEG Solar (SEG), a leading US-based photovoltaic (PV) manufacturer, has signed a Land Utilization Agreement for Industrial Land (PPTI) with PT Kawasan Industri Terpadu Batang (Grand Batang City), a subsidiary of the state-owned enterprise Danareksa, to build its newest factory. SEG's substantial investment marks a significant step towards making Grand Batang City the largest PV manufacturing hub in Southeast Asia, reinforcing Indonesia's commitment to green energy and opening up new opportunities for economic growth and job creation.

Jun Zhuge, Founder and COO of SEG, and Ngurah Wirawan, President Director of Grand Batang City, officially signed the PPTI for a 40-hectare plot of land. The signing of this PPTI is concrete evidence of SEG's serious commitment to investing more than US$500 million in Indonesia.

SEG's factory in Grand Batang City will be one of the largest PV manufacturing facilities in Southeast Asia, with an annual production capacity of 5GW for solar cells and 5GW for modules. This ambitious project is expected to create more than 3,000 jobs, providing a significant boost to the local economy and enhancing the workforce's skills in PV technology.

The presence of SEG is concrete proof of the attractiveness of Grand Batang City as a prime investment destination for the PV manufacturing industry. "We are committed to providing full support to SEG Solar in building their factory and helping them achieve success in Indonesia," said Ngurah Wirawan.

"An integrated layout across the entire industry chain is essential for SEG to comply with lawful supply chain standards. Through upstream and downstream coordination, SEG ensures the provision of clean and traceable green products for the US, European, and Indonesian markets, thus facilitating the global transition to low-carbon green energy," said Jun Zhuge, Founder and COO of SEG.

Construction of the SEG Solar factory in Grand Batang City is expected to begin in 2024 and be completed in the second quarter of 2025. With the presence of SEG, Grand Batang City enters a new chapter as the largest renewable energy manufacturing center in Southeast Asia, driving economic growth by creating new jobs, strengthening the commitment to renewable energy and the transition to a sustainable energy future, and promoting localization of production and increasing efficiency.