Indonesia Energy Corporation (NYSE American: INDO) announced today that it has signed a new Memorandum of Understanding with Aguila Energia e Participações Ltda. (AEP), an affiliate of Rio de Janeiro‑based Aguila Capital, during the summit meetings between Presidents Prabowo Subianto of Indonesia and Luiz Inácio Lula da Silva of Brazil. The agreement, signed on 24 October 2025, establishes a cooperative, non‑binding framework to jointly identify, evaluate, and pursue opportunities to develop two hybrid energy pilot projects that combine solar power with natural gas from AEP’s assets in Brazil’s Northeast region.
Each pilot project is designed to deliver an initial generation capacity of 10 megawatts, with the potential to scale up to 400 megawatts as the projects mature. The partnership aims to provide autonomous energy infrastructure for data centers in Brazil, supporting the growing digital economy and high‑density computing needs. The MOU follows an earlier, more general memorandum signed in August 2025, and represents a concrete step toward operationalizing hybrid energy solutions in a key emerging market.
By entering into this collaboration, INDO expands its strategic footprint beyond Indonesia, positioning itself to tap into Brazil’s renewable energy sector and to leverage AEP’s local expertise and regulatory engagement. The agreement also aligns with INDO’s broader objective of developing its Citarum natural gas asset on Java, potentially creating synergies between domestic and international projects. The deal is a significant strategic shift that could open new revenue streams and enhance the company’s long‑term value proposition.
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