Investment Minister Aims to Co-Develop Solar Panel Industry with Singapore

TEMPO.CO, Jakarta -  The Coordinating Minister of Maritime Affairs and Investment Luhut Pandjaitan on Tuesday said the Indonesian government will partner with the Singaporean government in developing the solar panel industry with a claimed US$50 billion investment potential, Antaranews reported. 

The minister mentioned this during the Leading Economic Forum 2023 event in Jakarta. “We will sign an agreement with Singapore this week in regard to the solar panel industry.”

According to Luhut, in this cooperation, Singapore initially wanted the electricity to be exported to Singapore. However, Indonesia is adamant that industrial development must be carried out domestically.

"But we don't want it to be like that. What we want is an end-to-end, so we have to build the solar panels here for the industry, then the batteries, and so on. Later we will also export them to Singapore, so it's a win-win," he said.

The cooperation with Singapore is also to support the Kalimantan Industrial Park Indonesia (KIPI) in North Kalimantan, which has seen the groundbreaking ceremony for the construction of the Mentarang Hydroelectric Power Plant, which is projected to have a capacity of 1,375 Megawatts (MW).

The North Kalimantan industrial area will also build the largest petrochemical factory, iron steel factory, electronic alumina, electric batteries, and solar panels.

ANTARA

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