Indonesia, Singapore to invest over US$10 billion in green energy

Indonesia and Singapore have agreed to invest more than US$10 billion in green energy initiatives, marking a major step toward regional sustainability, Indonesian news agency (ANTARA) reported Saturday.

 “The signing of three memorandums of understanding (MoUs) between Indonesia and Singapore today brings benefits to both countries,” said Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, on Saturday.

 The US$10 billion investment will support the implementation of environmentally sustainable energy policies, including the development of a solar panel supply chain, the patenting of carbon capture and storage (CCS) technologies, and the creation of green industrial zones.

 Lahadalia noted that the scale of the investment reflects both countries’ strong commitment to clean energy and the business opportunities it presents in Southeast Asia.

 The investment will be distributed across several strategic areas, including large-scale construction of solar panel installations; the development of CCS facilities to position Indonesia and Singapore as regional leaders in carbon management technologies; and the establishment of green industrial zones that integrate low-emission supply chains across manufacturing, technology, and logistics sectors.

 Lahadalia said the investment is expected to foster a new economic ecosystem, creating thousands of jobs—from solar panel and battery energy storage system (BESS) production to operations and maintenance roles.

 On the fiscal side, the government projects up to US$6 billion in additional annual foreign exchange revenue and a significant increase in tax revenues.

WAM