SG, Indonesia ink pact on renewable energy cooperation
Under the MoU, the parties will develop solar farms to supply renewable energy to Indonesia.
Singapore and Indonesia have agreed to collaborate on renewable energy projects.
Under the Memorandum of Understanding (MOU) on Renewable Energy Cooperation, the parties will “establish a cooperative institutional framework to facilitate investments in the development of renewable energy manufacturing industries in Indonesia and cross-border electricity trading projects between Indonesia and Singapore.”
“The countries will facilitate investments for the development of upstream and downstream renewable energy manufacturing industries and capabilities in Indonesia, including solar photovoltaics (PV) and Battery Energy Storage Systems (BESS), leveraging investments for electricity export projects to Singapore,” the Ministry of Trade and Industry added.
The parties will also work on developing solar farms and BESS that will supply renewable energy to Indonesia. These facilities will also allow the export of energy between the two counties.
Singapore and Indonesia will also work together to facilitate commercial arrangements and the development of frameworks and transmission infrastructure to allow cross-border electricity trading between them.