ASIATODAY.ID, JAKARTA – The Indonesian government is offering investment opportunities in the renewable energy sector to entrepreneurs in China at the “The China RE Invest Indonesia 2024” forum in Beijing.
“The Indonesian government has carried out various initiatives to support the energy transition, such as building new electricity transmission infrastructure, developing renewable energy supply chains, especially the solar energy sector, as well as developing an ecosystem for electric vehicles, batteries and green hydrogen,” said Deputy for Infrastructure and Transportation Coordination, Coordinating Ministry. Maritime and Investment Sector Rachmat Kaimuddin in a written statement, Tuesday, April 2 2024.
Rachmat conveyed this at the forum “The China RE Invest Indonesia 2024” organized by the Embassy of the Republic of Indonesia in Beijing in collaboration with Tenggara Strategics and the Indonesian Center for Strategic and International Studies (CSIS) in Beijing on Monday, April 1 2024.
The forum aims to introduce investment and financing opportunities to Chinese investors and financiers in renewable energy in Indonesia. The event also held a panel discussion on renewable energy exports to Singapore and a business-matching session.
“Production of solar panels and battery energy storage systems (BESS) for electricity exports to Singapore must be able to meet local content requirements of at least 60 percent,” added Rachmat.
Meanwhile, the Indonesian Ambassador to China and Mongolia, Djauhari Oratmangun, at the event emphasized the strong bilateral relations between Indonesia and China, especially in the field of renewable energy.
The discussion session presented the President Director of PT PLN Darmawan Prasodjo, Director of Financing and Investment of PT Sarana Multi Infrastruktur (SMI) Sylvi J. Gani, Chair of Energy and Mineral Resources of the Indonesian Employers’ Association (APINDO) and CEO of Medco Power Indonesia Eka Satria and Director of Public Affairs Trina Solar Co., Ltd. Tori Liu.
“PLN plans to develop a comprehensive smart-grid system to support various renewable energy sources so that it will be in line with the development of the cross-border ASEAN Electric Network. This step will pave the way for Indonesia to export renewable energy to Singapore,” said Darmawan in the discussion.
Meanwhile, Sylvi J. Gani explained the role of PT. SMI as a “Special Mission Vehicle” (SMV) under the Ministry of Finance in facilitating investors and financial institutions for the development of renewable energy in Indonesia.
Furthermore, Eka Satria invited Chinese investors and financiers to participate in renewable energy exports to Singapore by investing in the manufacture of solar PV modules and battery energy storage systems (BESS).
Meanwhile, Tori Liu said that her company, Trina Solar, had invested more than US$86 million in the Kendal Industrial Area, Central Java to produce 1 GW Topcon N-type cells and modules.
“Indonesia offers a strategic position as an investment center in the ASEAN region with significant solar energy market potential, including project development on former mining land, unproductive land, and floating solar power plant initiatives on reservoirs,” said Tori.
The China RE Invest Indonesia 2024 Forum also held a “business matching” session as a forum for direct interaction between Chinese investors and financiers and renewable energy project owners in Indonesia, especially those related to renewable energy exports to Singapore.
Singapore, through the Energy Market Authority (EMA), plans to import 4 Gigawatts (GW) of low-carbon electricity by 2035.
Singapore has also given conditional approval to five companies, including Pacific Medco Solar and Indonesia’s Adaro Solar International, to export 2 GW of clean energy from Indonesia, equivalent to 14 Gigawatts peak (GWp), representing an investment opportunity of US$15 billion, including for electricity generation and manufacturing of solar panels and BESS.
The renewable energy export initiative to Singapore offers an important investment opportunity for stakeholders in China’s renewable energy sector, especially because of China’s position as the world’s largest investor in renewable energy. (AT Network)
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