Singapore, Indonesia push for low-carbon, clean energy future with new sustainability MoUs
SINGAPORE, June 14 — Singapore and Indonesia on Friday signed three Memoranda of Understanding (MoUs) to create win-win partnerships that would enable clean energy transition, facilitate industrial decarbonisation, and generate investments in the development of sustainability-related activities.
Singapore's Ministry of Trade and Industry (MTI) said in a statement that the three MoUs are on Cross-Border Electricity Trade (CBET), Carbon Capture and Storage (CCS), and a Sustainable Industrial Zone (SIZ).
The MoUs were signed by Singapore's Minister-in-charge of Energy and Science & Technology, Dr Tan See Leng, and Indonesia's Minister for Energy and Mineral Resources, Dr Bahlil Lahadalia, during the former's visit to Jakarta, Indonesia.
Dr Tan said the MoU marks a significant milestone in Singapore's continued partnership with Indonesia under the Prabowo administration and reflects the resolve of both countries to pursue robust low-carbon and sustainability initiatives.
'These win-win partnerships will support both countries in achieving a resilient and low-carbon energy future, and generate new investments into green activities, while we do our part for global climate action,' he said in the statement.
MTI said the CBET MoU, which builds on previous MoUs on energy cooperation, will see both MTI and Indonesia's Ministry of Energy and Mineral Resources (ESDM) aim to put in place the necessary policies, regulatory frameworks, and business arrangements for CBET within 12 months.
Meanwhile, under the CCS MoU, a joint working group will be set up to study components of a legally binding government-to-government agreement on CCS that will be necessary for implementing cross-border CCS projects.
Under the SIZ MoU, a joint task force will be established by MTI and ESDM to study the development of potential industries within the sustainable industrial zone (SIZ) in Bintan, Batam, and Karimun (BBK).
'The MoU reflects recognition by both countries of the importance of providing regulatory certainty for renewable energy projects, which will in turn create spin-off investments in Indonesia,' it added. — Bernama
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