Indonesia Energy Signs Memorandum of Understanding During State Visit to Indonesia By Brazilian President Lula da Silva Promoting Energy Cooperation between Indonesia and Brazil

Core Insights - Indonesia Energy Corporation (IEC) has signed a Memorandum of Understanding (MOU) with Aquila Energia e Participações Ltda. (AEP) to explore sustainable off-grid energy solutions in Brazil, particularly for data centers [1][2] - The MOU aims to develop two hybrid energy pilot projects that integrate solar power and natural gas, with an initial generation capacity of 10 MW and potential expansion up to 400 MW [1] - This collaboration is part of a broader strategy to leverage state funding and other capital sources for energy projects in Brazil, combining IEC's expertise in oil and gas with AEP's local market knowledge [2][3] Company Overview - Indonesia Energy Corporation Limited (NYSE American: INDO) focuses on acquiring and developing high-growth energy projects in Indonesia, with significant assets in the Kruh Block and Citarum Block [4] - The company is also exploring joint project development opportunities in Brazil, indicating a strategic expansion into international markets [4] Strategic Context - The MOU was signed during a summit between the Presidents of Indonesia and Brazil, highlighting the commitment of both countries to collaborate on energy ventures [3] - IEC's President emphasized the potential for state financing to accelerate the development of significant assets, including a billion-dollar natural gas project in Indonesia [3]