Singapore and Indonesia signed agreements on cross-border electricity trade and carbon market cooperation. (Photo: Ministry of Digital Development and Information, Singapore)
Singapore and Indonesia signed agreements on cross-border electricity trade and carbon market cooperation during a bilateral retreat in Jakarta on Monday, as both governments move to strengthen energy security, clean power supply, and climate policy coordination.
Speaking alongside Indonesian President Prabowo Subianto, Singapore Prime Minister Lawrence Wong said energy and sustainability would remain a key area of bilateral cooperation, adding that recent developments in the Middle East have underscored the need for energy diversification.
“Indonesia has tremendous potential in renewable energy, and Singapore would like to partner Indonesia in unlocking this potential,” Wong said.
Unlock the full article to explore three key takeaways:
Singapore and Indonesia are advancing cross-border electricity trade, with Danantara signing MoUs with Keppel Electric, Sembcorp Industries, and Singapore Energy Interconnections to support a 3.4 GW power export pipeline to Singapore.
The two governments are building a framework for cross-border carbon credit cooperation under Article 6 of the Paris Agreement, including information-sharing, technical exchange, and the identification of high-integrity carbon credit projects.
The new agreements add to a wider clean energy and carbon management pipeline between the two countries, spanning solar development in Morowali, CCS projects, and sustainable industrial zones near Singapore.
