DIGIVESTASI - Clean Electricity Export Plan to Singapore Could Attract Significant Investment to Indonesia, Indonesia's plan to export clean electricity to Singapore is expected to bring significant investments to the country. The demand for clean electricity from Singapore reaches 3.4 GW, providing a substantial opportunity for Indonesia.

According to Andi Yulianti Ramli, Acting Head of the Sustainable Connectivity Coordination at the Coordinating Ministry for Infrastructure and Regional Development, the potential investment that Indonesia could gain is estimated at USD 50 billion, or around IDR 780 trillion. Additionally, Indonesia is projected to achieve export foreign exchange of around USD 4-6 billion.

"Well, this opens up the opportunity for export foreign exchange of electricity amounting to USD 4-6 billion and investment up to USD 50 billion," said Ramli during The Bangun Bangsa Conference 2024, themed "Sustainability in Action: Accelerating Decarbonisation Journey in Asia Pacific," held at Hotel Sultan, Jakarta, on Friday (October 25, 2024).

Moreover, there is also potential investment in the solar panel supply chain, energy storage systems, and more, which could generate foreign exchange of up to USD 2.7 billion.

"If we export electricity to Singapore, it opens up economic opportunities for investments in the solar, PV, and battery storage supply chains. We have conducted calculations, and several companies are already building projects in Kendal, where the investment in solar panels has the potential to generate foreign exchange of USD 2.7 billion," she added.

Meanwhile, the Energy Market Authority (EMA) of Singapore has granted Conditional Approval to Total Energies RGE to supply 1.0 gigawatt (GW) of solar Photovoltaic (PV) power from Indonesia to Singapore through its subsidiary, Singa Renewables Pte Ltd, and Shell VBenaEnergy.

The approval was announced by Singapore's Minister of Manpower and Second Minister for Trade and Industry, Tan See Leng, during the Indonesia International Sustainability Forum (ISF) 2024.

This project will utilize solar power from Indonesia to produce clean energy to be supplied to Singapore. Additionally, Singa Renewables will also provide PV solar power for domestic use in a green industrial complex in Riau Province, Indonesia.

Last year, a consortium consisting of Pacific Medco Solar Energy, Medco Power, PacificLight Power Pte Ltd, Gallant Venture Ltd, Adaro Green, and TBS Energi Utama also received similar approval.

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