SOS Limited Enters Framework Memorandum for Potential AI Data Center Platform in Indonesia
SOS Limited (NYSE: SOS) has signed a non-binding cooperation memorandum with an Indonesian company to potentially develop a 500-megawatt wholesale AI and cloud data center campus in the Galang Batang Special Economic Zone on Bintan Island. The project, if realized, would begin with Phase I construction of approximately 50MW capacity. The agreement outlines preliminary terms for land use, power supply, funding mechanisms, and a six-month due diligence period before definitive agreements are finalized. The location is strategically positioned near Singapore within the SJR growth corridor, offering low latency connectivity and potential cost advantages in land and electricity. A local partner will aim to secure at least 60MW of effective power capacity for Phase I under a coal-index-linked pricing model. SOS has also received non-binding expressions of interest from prospective tenants totaling approximately 180MW. The company plans to finance the project through an equity and project-finance structure, potentially involving institutional lenders. However, no financing agreements have been finalized yet.
Tickers: $SOS
Topics: AI infrastructure data centers Southeast Asia expansion strategic partnerships