Indonesian sovereign wealth fund Danantara and Singapore's Keppel Electric, Sembcorp Industries and Singapore Energy Interconnections have signed a memorandum of understanding for a cross-border electricity project, Singapore's prime minister said on Monday.Prime Minister Lawrence Wong was speaking at a press conference following a meeting with Indonesian President Prabowo Subianto in Jakarta.
Singapore and Indonesia are currently conducting price negotiations for the cross-border electricity deal, Energy and Mineral Resources Minister Bahlil Lahadalia told reporters.
"I think there will be a breakthrough soon. We want everybody to reap the benefits, reaching a win-win solution for both," Bahlil said.
The electricity deal is a follow-up to a string of early agreements Indonesia struck with Singapore in 2025, which includes a plan to supply 3.4 gigawatts of low-carbon power to the city-state by 2035.
