Singapore Indonesia 3.4 GW cross border electricity trade MOUs signed with Keppel Sembcorp Danantara

Singapore and Indonesia signed several memoranda of understanding to advance cross-border electricity trade (CBET) targeting 3.4 gigawatts or more of low-carbon power projects by 2035. Danantara Investment Management, the investment arm of Indonesia's Danantara, signed MOUs with Keppel Electric and Sembcorp Utilities to explore offtake of imported low-carbon electricity. A separate MOU between Singapore Energy Interconnections and Danantara will focus on information sharing and technical collaboration for interconnector development. The Indonesian government has designated Danantara to lead CBET between the two countries. Both governments plan to develop regulatory frameworks, policies, and requirements to support the projects, including investment conditions based on agreed milestones and timelines. They will also develop a cross-border renewable energy certificate framework. The agreements signal a concrete step toward the 3.4 GW target by 2035, though details on project timelines, financing, and specific generation sources remain to be clarified.