Batam, gokepri – Singapore and Indonesia have reached a historic agreement to boost their collaboration on renewable energy. The Leaders’ Retreat Indonesia-Singapura 2023, which was held in Singapore on Thursday, March 16, 2023, produced a memorandum of understanding (MoU) to enhance cooperation on new and renewable energy between the two nations.
One of the outcomes of the annual meeting was an increase in investment in the renewable energy sector to meet both countries’ energy needs. President Joko Widodo stated in a joint press conference with Singapore’s Prime Minister Lee Hsien Loong, broadcast on the official YouTube channel of the Presidential Secretariat, that “For the fulfillment of the energy needs of both countries.”
The green economy was one of the aspects discussed at the Leaders’ Retreat, and Prime Minister Lee Hsien Loong said that the MoU signed on this occasion would support a commercial framework for the development of renewable energy capabilities in cross-border transmission infrastructure and electrification. “This will strengthen both countries’ energy infrastructure, energy transition, and energy security,” PM Lee said.
Both countries are also aligned with regional initiatives such as the ASEAN Power Grid. The integrated power network infrastructure cooperation in Southeast Asia has been formulated since 1997 by the regional organization and is in line with the spirit of utilizing renewable energy in the region, targeting a renewable energy mix of 35% by 2025.
Energy and Mineral Resources Minister Arifin Tasrif acknowledged that the primary energy mix of renewable energy in Indonesia in 2022 was only 14.11%, which is still very low compared to the government’s target of 15.7% for the same year.
In an effort to achieve this target, the increased cooperation on renewable energy between Indonesia and Singapore is expected to be a solution to enhance the use of renewable energy in the region and support regional initiatives such as the ASEAN Power Grid.
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