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[SINGAPORE] RGE and TotalEnergies on Wednesday (May 28) have signed a co-investment agreement to jointly develop a solar power plant with battery energy storage system in Riau Province, Indonesia.
The utility-scale project will be developed through their equally owned joint venture Singa Renewables.
As part of the Singapore-Indonesia electricity import framework, it will provide both green energy supply for domestic consumers in Indonesia and clean solar energy export to Singapore, upon completion.
The agreement was announced in the presence of Indonesian President Prabowo Subianto and French President Emmanuel Macron at the Presidential Palace in Jakarta.
Imelda Tanoto, managing director at RGE, highlighted that the agreement reflects the Singapore-headquartered group’s alignment with Indonesia’s National Transformation Strategy.
“We aim to unlock long-term economic value for Indonesia by driving investment, developing Indonesia’s solar energy value chain and creating skilled expertise in renewables,” said RGE’s Tanoto.
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The project is expected to position Indonesia as a global renewables hub through the creation of skilled jobs in renewables, battery energy storage system, engineering, and grid integration in the country, in addition to developing the country’s solar and energy storage supply chain capabilities, said both companies in a joint release.
Besides, it will also support the Association of Southeast Asian Nations’ wider ambitions for cross-border clean energy cooperation and energy integration, according to the release.
Singapore’s Energy Market Authority (EMA) granted conditional licence to the joint venture Singa Renewables to import 1 gigawatt (GW) of low-carbon electricity from Indonesia in September, 2024, as part of the Republic’s ongoing efforts to import low-carbon electricity.
In 2021, Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong announced Singapore’s plans to import up to 4 GW of low-carbon electricity by 2035.
Singapore and Indonesia signed multiple memoranda of understanding in energy cooperation in January 2022, March 2023 and September 2023, to facilitate cross-border trading projects and interconnections between two countries, as well as investments in the renewable energy manufacturing industries, including the solar photovoltaics and battery energy storage systems in Indonesia.
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