Jakarta – At the Indonesia International Sustainability Forum (ISF) 2024 in Jakarta, Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, confirmed that Indonesia is ready to export electricity to Singapore. This plan has entered the next stage after the signing of a memorandum of understanding (MoU) between the Indonesian Minister of Energy and Mineral Resources (ESDM) and the Second Minister for Trade and Industry of Singapore.
Luhut stated that the electricity export will start with 2 gigawatts (GW) of low-carbon electricity. “Electricity exports to Singapore are underway, it has been signed. In the first stage, we export 2 GW, and it can grow,” said Luhut on the sidelines of the ISF at the Jakarta Convention Center, Thursday (5/9). He also added that the export will be carried out without sacrificing domestic electricity needs. “We must also look at domestic needs, don’t export everything. We must still have our own reserves,” he said.
Regarding the value of the export, Luhut has not given a definite figure, but said the potential income is very large. “The value could be tens of billions of US dollars, very large,” he said.
Luhut also highlighted the importance of the Green Industrial Area in North Kalimantan which will become the center of environmentally friendly industries. This area will cover various sectors, such as green aluminum production, electric cars, and green petrochemicals. “This is our ideal. Indonesia can achieve it, as long as we work together and manage it well,” said Luhut optimistically.
Not only that, Luhut said that Indonesia has great potential in storing carbon emissions of up to 600 giga tons through Carbon Capture and Storage (CCS) technology. “We are blessed with great potential to store carbon. This is a great opportunity for Indonesia,” he explained.
Luhut also expressed confidence that the next administration, which is expected to be led by Prabowo Subianto, will continue its commitment to green energy. “I am sure the next administration understands the importance of this green energy. The Indonesian government will continue to pursue this vision,” Luhut said.