Indonesia is set to export low-carbon electricity to Singapore, with a MoU to be signed at the International Sustainability Forum (ISF) 2024
THE Indonesian Coordinating Ministry for Maritime Affairs and Investment announced plans to discuss electricity exports to Singapore during the International Sustainability Forum (ISF) 2024. This event, set to take place from September 5th – 6th, 2024, will see a significant agreement in the form of a memorandum of understanding (MoU) between Indonesian and Singaporean companies, witnessed by key officials from both nations.
Mr. Rachmat Kaimuddin, Deputy for Infrastructure and Transportation Coordination at the Coordinating Ministry for Maritime Affairs and Investment, shared in Jakarta on Thursday, August 29th, 2024, that the plan for electricity exports is progressing, with aims to begin exports by late 2027 or early 2028. A conditional licensing agreement, a prerequisite for the electricity export to Singapore, is one of the ten partnerships that will be finalised at the forum. The agreement is expected to be valued at billions of U.S. dollars.
Singapore plans to import 4 gigawatts of low-carbon electricity by 2035, with 50% of this supply coming from Indonesia. This partnership forms a framework to facilitate commercial projects for developing carbon energy and cross-border electricity trade between the two nations. The MoU signing will be witnessed by Mr. Rachmat Kaimuddin and Singapore’s Deputy Minister for Trade and Industry, Mr. Tan See Leng, highlighting the long-term and comprehensive partnership between the two countries.
Additionally, the ISF 2024 will feature agreements on carbon capture and storage (CCS) with Indonesia’s Pertamina. The forum, which brings together global leaders from various sectors and countries, will focus on five key pillars: green economy, energy transition, nature conservation and biodiversity, sustainable lifestyles, and the marine economy.
Source: Antaranews
