Heaptalk, Jakarta — Indonesia will export 3.4 gigawatts (GW) of green electricity to Singapore, valued at Rp308 trillion, approximately US$19.9 billion (US$1 equals Rp15,448).
The cooperation between the two countries was marked by the signing of a Memorandum of Understanding (MoU) on the Announcement of Cross Border Electricity Interconnection at the Indonesia International Sustainability Forum (IISF) 2024, held at the Jakarta Convention Center (JCC) on Thursday (09/05).
Following the agreement signing, Indonesia’s Coordinating Minister for Maritime Affairs and Investment (Kemenko Marves), Luhut Binsar Pandjaitan, stated that the value of the electricity export project from Indonesia to Singapore, amounting to 3.4 GW, would reach US$20 billion, or approximately Rp308 trillion (assuming an exchange rate of Rp15,400 per US$). This partnership between Indonesia and Singapore is a significant step forward in their shared commitment to a sustainable future. According to Luhut, Singapore and Indonesia will benefit from this clean electricity purchase agreement.
Additionally, Indonesia plans to build a domestic solar panel industry to support an environmentally friendly electricity supply. The country is currently constructing a 9 GW hydropower plant in the green industrial area in North Kalimantan.
Luhut added, “We are building a 9 GW hydropower plant combined with solar panels, which will be a breakthrough for Indonesia.” Although Indonesia will export electricity, national interests will remain a priority. Exports will be conducted based on calculations ensuring domestic energy needs are met first. “We are carefully assessing and calculating everything. We must also consider the domestic demand, right? We can’t export everything and leave ourselves with none,” Luhut concluded.
