PR100177

WASHINGTON, June 26, 2023 /PRNewswire-AsiaNet/ --

SEG Solar (SEG) and PT Kawasan Industri Terpadu Batang (KITB), announced

entering into a binding agreement for the lease of approximately 41 hectares of

land located in the Batang Regency, Central Java, Indonesia for a term of 80

years.

SEG intends to invest a total of 500 million U.S. dollars to develop the land

for construction of a 5GW solar cell production facility and a 3GW solar module

manufacturing facility 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 at the local level

in Indonesia.

The solar cell production line will vertically supply SEG's  module factory in

Houston, Texas, USA and guarantee full capability to trace components within

the module supply chain. SEG aims to cooperate with other PV component

suppliers, 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, taxation benefits and abundant silicon resources."

Bahlil Lahadalia, Minister of Investment of The Republic of Indonesia,

expressed, "This investment will create more than 2,000 jobs for the people of

Indonesia and significantly contribute to the economic growth of the Batang

region.  The Indonesian government is committed to providing tax support,

aiming to foster mutually beneficial outcomes." The facilities are scheduled to

be completed in the second quarter of 2024 and will be one of Indonesia's

largest solar cell and module factories.

Founded in 2016, SEG is a leading vertically integrated PV manufacturer

headquartered in Houston, Texas, USA. SEG will have more than 5.5GW of global

module production capacity in 2024.

Established in 2017, ATW Group is an Indonesian-based renewable energy

investment company. ATW Group has more than 80 MWp portfolio throughout the

archipelago. KITB is the latest state-owned Industrial Estate in Indonesia

which is appointed to be one of the National Strategic Projects since its

establishment in 2020. KITB has 4,300 hectares of land, with development

proceeding in three clusters.

SOURCE: Xinhua Silk Road

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   Caption: SEG and KITB signing ceremony