Indonesia's Coordinating Ministry for Maritime Affairs and Investment (Kemenko Marves) has confirmed ongoing plans to export low-carbon, green electricity to Singapore. Deputy for Infrastructure and Transportation Coordination, Rachmat Kaimuddin, revealed that the government is currently in the process of identifying suppliers for solar panels, along with discussions on cable connections and batteries. As of 14 August 2024, these technical aspects are still being evaluated, with the project being large in scale. Rachmat emphasized that the investment cooperation between Indonesia and Singapore is primarily business-to-business (B2B), meaning that transactions are predominantly conducted between companies.
Previously, Kemenko Marves outlined specific conditions for Singapore’s green electricity imports from Indonesia, including the requirement for developers to establish solar panel factories within Indonesia. Singapore and Indonesia have already agreed on a low-carbon electricity trade partnership. In the initial phase, from 2026 to 2027, developers will supply 2 Gigawatts (GW) of green electricity. By 2035, Singapore’s total electricity demand is expected to reach 4 GW, with 50% to be imported from Indonesia. Regarding the solar panel factory development, five Indonesian and five Singaporean developers will collectively install 11 GW of solar panel capacity and 21 GW of energy storage batteries in Indonesia. This commitment was solidified through a Letter of Intent (LoI). The Indonesian developers include Pacific Medco Solar Energy consortium, Adaro Clean Energy, and Energi Baru TBS. The Singaporean developers involved are Seraphim Solar System, LONGi Solar Technology, IND Solar Tech, Sungrow Power Supply, and Huawei Tech Investment.
