Indonesia, Singapore negotiate pricing for green power exports

Jakarta (ANTARA) - Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, informed that negotiations are underway on the price of green electricity export from Indonesia to Singapore, as an effort to bring balanced economic benefits for both countries.

"The process is ongoing. We are still negotiating the price. Our regulations place the price in the government's hands. We want a win-win situation, mutually beneficial," Lahadalia said in a statement on Tuesday.

He stressed that Indonesia seeks an agreement that not only creates opportunities for energy exports but also delivers balanced economic benefits for both countries.

"We want to be mutually beneficial. The cooperation must be mutually beneficial for both parties. I think we will find common ground soon," he continued.

The minister said cooperation between Indonesia and Singapore has progressed positively, although negotiations have yet to be finalized.

The cross-border electricity trade plan is part of strengthening economic relations between the two countries, particularly in the development of green energy and the energy transition. At the same time, the completion of price negotiations remains key to ensuring the cooperation can be implemented swiftly.

According to Lahadalia, a balanced pricing agreement is essential to ensure that electricity exports not only serve as commercial transactions but also generate tangible economic benefits for Indonesia while supporting the sustainability of energy cooperation with Singapore.

The green electricity export cooperation is a continuation of the energy sector cooperation agreed upon last year. In addition to green electricity exports, other cooperation includes the development of green industrial areas and carbon capture and storage (CCS).

Beyond the energy sector, the meeting between the two countries also discussed various bilateral cooperation agendas, ranging from trade, investment, connectivity, the digital economy, cybersecurity, and defense.

Of the 26 agreements signed, 18 are government-to-government, while the other eight are business-to-business agreements.

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Translator: Putu Indah S, Resinta Sulistiyandari

Editor: Azis Kurmala

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