Indonesia and Singapore Ink MoU on Commercial Renewable Energy Projects

Singapore and Indonesia have signed a bilateral Memorandum of Understanding (MoU) on Renewable Energy Cooperation. The agreement was announced at the recent Singapore-Indonesia Leaders’ Retreat, which was held in Singapore.

The participants said the MoU builds on the previous MoU on Energy Cooperation between Indonesia and Singapore which was signed in conjunction with the Singapore-Indonesia Leaders’ Retreat last year, and the MoU on Climate Change and Sustainability signed in March 2022.

Under this latest MoU, Indonesia and Singapore 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 two countries will also facilitate the development of solar farms and BESS to supply renewable energy into Indonesia and for energy export, including the export of green electricity, and when viable, hydrogen and ammonia, using solar PV and BESS manufactured in Indonesia. This can support the development of Green Corridors in Riau Islands and other potential regions in Indonesia.

The countries further agreed to promote investments to attract industries harnessing renewable energy into such Green Corridors in Indonesia, including industrial hubs, industrial parks, and smart cities.

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