TEMPO.CO, Jakarta - The investment arm of Danantara, PT Danantara Investment Management, signed two memorandums of understanding (MoUs) with Keppel Electric and Sembcorp Utilities today. The agreements outline potential cooperation for exporting electricity to Singapore.
Rosan Perkasa Roeslani, Chief Executive Officer of the Indonesian Agency for Nusantara Energy Investment Management (BPI Danantara), stated that Indonesia is fully committed to preparing the regulations and infrastructure required to get the project operational before the end of this decade.
"This is a catalyst for domestic green downstreaming in Indonesia; the interconnection with Singapore is one of the manifestations of a much larger strategic transformation," Rosan said in a written statement on Monday, July 6, 2026.
Alongside Keppel Electric and Sembcorp Utilities, Danantara also signed an agreement with Singapore Energy Interconnections. The pact aims to facilitate information exchange and explore potential cooperation on commercial and technical issues regarding cross-border interconnection development.
The realization of the project, which features a capacity of 3.4 gigawatts or more, is projected for 2035. The initiative is expected to advance energy connectivity and decarbonization for both nations within the clean energy sector.
Indonesia and Singapore will also develop and adopt a Cross-Border Renewable Energy Certificate (REC) Framework aligned with international standards. This framework is designed to support cross-border REC tracking and accounting ahead of the initial electricity flow.
According to Rosan, Indonesia will pioneer the ASEAN electricity grid alongside Singapore. "We are proving that regional decarbonization and high-value economic growth can, and will, occur simultaneously," he said.
Singapore's Minister-in-Charge of Energy and Technology, Tan See Leng, noted that the potential electricity export project from Indonesia is showing positive progress. Driven by the political will of both governments, the project is expected to successfully clear remaining hurdles, with operations targeted to commence within this decade.
"This will bring greater energy security and sustainability to our communities while generating spin-off benefits for our economy," Tan said.
Read: Prabowo Highlights Regional Stability During Singapore Meeting
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