Singapore, March 16th, 2023 – Indonesia & Singapore sign a Memorandum of Understanding (MoU) on Renewable Energy Cooperation during Singapore-Indonesia Leaders’ Retreat, which was held in Singapore today. The MoU was signed by Indonesia’s Coordinating Minister for Martime Affairs and Investment Luhut Binsar Pandjatian and Coordinating Minister for National Secuirty Teo Chee Hean Singapore. Both countries will leverage investment from electricity export projects to Singapore to facilitate the development of renewable energy manufacturing industries and capabilities in Indonesia, such as solar photovoltaics (PV) and battery energy storage system (BESS). Both countries will also facilitate cross-border electricity trading between Indonesia & Singapore. During the above event, Eka Satria, President Director of PT Medco Power Indonesia, together with PT Adaro Clean Energy Indonesia and PT Energi Baru TBS signed an MoU to collaborate with several Original Equipment Manufacturers (OEM) towards the development of renewable energy and opportunities for the industrialization of the Solar PV supply chain and BESS. President Director of PT Medco Energi International Tbk, Hilmi Panigoro said “MedcoEnergi has longstanding business relationships in both Indonesia and Singapore, and is pleased to support this joint initiatives that fits with our renewable energy program.”
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