Indonesia and Singapore sign MoU on Renewable Energy Cooperation
The countries will set up a structure that run investments in progressing renewable energy manufacturing industries in Indonesia and trans-border electricity trading projects.
March 18, 2023. By EI News Network
The countries will set up a structure that run investments in progressing renewable energy manufacturing industries in Indonesia and trans-border electricity trading projects.
It was inked by Indonesia’s Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan and Singapore’s Senior Minister and Coordinating Minister for National Security Teo Chee Hean at the Singapore-Indonesia Leaders’ Retreat.
The MOU will grant for the growth of renewable energy production industries and potential in Indonesia, containing solar photovoltaics (PV) and battery energy storage systems, which retrieve surplus power for later purpose.
These projects will access renewable energy to Indonesia for domestic purpose and for energy export, containing the export of green electricity, and feasibility of hydrogen and ammonia, tapping the solar PV systems and battery storage amenities produced in Indonesia.
As part of the agreement, Indonesia and Singapore will also function together to provide commercial arrangements and the evolution of frameworks and transmission infrastructure to permit trans-border electricity dealing between Indonesia and Singapore.
With trans-border electricity deal being provided between the two nations, it could assist Singapore to attain its target of importing up to 4 gigawatts of low-carbon electricity by 2035, which will provide around 30 per cent of Indonesia’s planned energy supply by 2035.
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