March 17, 2023
Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan (left) and Singaporean Chief Minister Teo Chee Hean (right) signed a memorandum of understanding on bilateral cooperation in the renewable energy sector at the Indonesia-Singapore Leaders' Meeting in Singapore on Thursday (March 16, 2023). g.). (ANTARA/HO-Coordinating Minister for Maritime Affairs and Investments/uyu)
The development of these facilities is expected to support the establishment of a Green Corridor (Energy) in the Riau Archipelago and other potential areas of Indonesia.
Jakarta (ANTARA) - Minister of Maritime Affairs and Investment Coordinator Luhut Binsar Panjaitan signed a Memorandum of Understanding (MoU) with Singapore's Senior Minister Teo Chee Hin on cooperation in the renewable energy sector.According to information received on Friday, the signing took place at a meeting between the leaders of Indonesia and Singapore in Singapore on Thursday (16/03/2023).
"Through this MoU, Indonesia and Singapore will form an institutional framework for cooperation to promote investment in renewable energy development for production in Indonesia, as well as cross-border electricity trade projects between Indonesia and Singapore," Panjaitan said.
As noted in the report, the Memorandum of Understanding on cooperation in the field of renewable energy was developed on the basis of two notes previously signed by the two countries.
These include the signing of a Memorandum of Understanding on Energy Cooperation during the Indonesia-Singapore Leaders' Retreat in Bintan, Riau Province in January 2022, and a Memorandum of Understanding on Climate Change and Sustainable Development that was signed in Singapore in March 2022 Mr.
The two countries agreed to encourage investment in the development of solar panels and battery energy storage systems (BESS) in Indonesia, as well as the development of clean hydrogen and ammonia that can be used as a low-carbon green fuel.
"The construction of the facilities should contribute to the creation of a green (energy) corridor in the Riau Archipelago and the potential of other regions in Indonesia," said Indonesia's Coordinating Minister of Economy.
Both countries will also work together to attract industrial companies to invest and use the green energy corridor.
Indonesia and Singapore will also work together to facilitate trade agreements and the construction of transmission infrastructure to support the export of electricity from Indonesia to Singapore.
The governments of both countries are currently considering several potential trade proposals that could meet the needs of both countries. Currently, submission of commercial proposals is ongoing.
Meanwhile, at a leaders' meeting, Indonesian President Joko Widodo (Jokowi) and Singaporean Prime Minister Lee Hsien Loong discussed Singapore's willingness to support the construction of Indonesia's New Capital (IKN) in East Kalimantan province.
The conversation also focused on bilateral cooperation in the field of livestock trade and the development of medical services and technologies.
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