Indonesia, Singapore ink MoU on renewable energy cooperation

The development of facilities is expected to support the establishment of the Green (Energy) Corridor in the Riau Islands and other potential areas in Indonesia. Jakarta (ANTARA) - Indonesia's Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan signed a memorandum of understanding (MoU) with Senior Minister of Singapore Teo Chee Hean on renewable energy cooperation.The signing was conducted at the Indonesia-Singapore Leaders' Retreat in Singapore on Thursday (March 16, 2023), according to a statement received on Friday. "Through this MoU, Indonesia and Singapore will establish an institutional cooperation framework to facilitate investment for developing renewable energy for the manufacturing industry in Indonesia as well as cross-border electricity trade projects between Indonesia and Singapore," Pandjaitan stated. ccording to the statement, the MoU on renewable energy cooperation was developed based on two memoranda earlier inked by the two countries. They include the MoU on Energy Cooperation signed at the Indonesia-Singapore Leaders' Retreat in Bintan District, Riau Islands Province, in January 2022, as well as the MoU on Climate Change and Sustainability inked in Singapore in March 2022. The two countries agreed to encourage investment for the construction of solar panels and Battery Energy Storage System (BESS) in Indonesia as well as the development of green hydrogen and ammonia that can be used as low-carbon green fuel. "Development of the facilities is expected to support the establishment of the Green (Energy) Corridor in Riau Islands and other potential areas in Indonesia," the Indonesian coordinating minister remarked. The two countries will also cooperate to attract various industrial companies to invest and utilize the green energy corridor. Indonesia and Singapore will also collaborate to facilitate commercial arrangements as well as the transmission infrastructure development to enable the export of electricity from Indonesia to Singapore. Currently, the two governments are reviewing several potential commercial proposals that can meet the requirements of both countries. Currently, submission for the commercial proposals is still open. Meanwhile, at the leaders' retreat, Indonesian President Joko Widodo (Jokowi) and Singaporean Prime Minister Lee Hsien Loong discussed Singapore's keenness to support the development of the new Indonesian capital (IKN) Nusantara in East Kalimantan Province. They also spoke about bilateral cooperation in livestock trade as well as the development of medical services and technology.

Source: Antara News Agency (ANA)