Danantara Targets Renewable Energy Investment to Singapore Worth $30 Billion - BCA Sekuritas

Indonesia’s Investment Management Agency (BPI) Danantara is targeting involvement in a renewable energy cooperation project with Singapore, with the project investment estimated to reach $30 billion or approximately Rp518.74 trillion. Danantara’s Chief Investment Officer (CIO) Pandu Sjahrir stated that investor interest in the green electricity supply project is substantial. The project encompasses the construction of solar panel infrastructure as well as cross-border transmission networks. “We will implement and review energy exports to Singapore, and Indonesia in terms of (the) solar panel project, which is likely to become the largest project in ASEAN,” Pandu said at the Fitch Ratings Annual Indonesia Conference in Jakarta on Thursday. He explained that Danantara’s involvement also includes building transmission lines connecting Indonesia and Singapore. “We (Danantara) will be involved and also build transmission lines both for Singapore and for our own country. The project will be worth at least approaching $30 billion,” he stated. Nevertheless, Pandu emphasised that technical details and cooperation schemes are still in further discussion stages, given that several private companies have already established agreements with Singaporean authorities. Furthermore, he mentioned that this project is a continuation of commitments to develop solar panel projects previously discussed at the Indonesia Sustainability Forum (ISF). “Because the desire (for RI-Singapore cooperation) can also bring a lot of value to Indonesia, and we will also have to make those solar panels. Later, we will definitely produce them for Indonesia as well. So there are many added values,” he explained.