The upcoming Indonesia International Sustainability Forum (ISF) 2024 is set to open new avenues for Indonesia, with plans to export renewable electricity, particularly solar power, to Singapore, an initiative considered as a significant step towards regional collaboration in green energy.
Rachmat Kaimuddin, Deputy for Infrastructure and Transportation at the Coordinating Ministry for Maritime Affairs and Investment, said that 10 agreements are expected to be finalized during the event, including a substantial deal for exporting renewable electricity to Singapore.
“One of the major agreements involves granting conditional licenses for the transfer of electricity to Singapore, potentially worth billions of US dollars,” Rachmat told a press conference on Thursday, August 29, 2024 in Jakarta.
He cited that several Indonesian companies have received conditional approval to supply electricity to Singapore, which is a preliminary step towards obtaining a conditional license from the Singaporean government.
“We currently have several companies with conditional approval. The next phase is securing the conditional license from the Singapore government,” Rachmat said.
The export of green electricity from Indonesia to Singapore is projected to commence in 2027. To achieve this, project developers are planning the necessary infrastructure, including cable installation and determining factory locations.
Rachmat emphasized the importance of using domestically produced materials for this project, such as solar modules, solar panels, and batteries, highlighting its potential to boost Indonesia’s manufacturing industry, particularly in the renewable energy supply chain.
“This initiative not only aims to foster regional energy cooperation, but also seeks to bolster Indonesia’s renewable energy manufacturing sector,” he concluded.
