Indonesia approves Australian solar project worth over $ 2.5 billion in investment, Energy News, ET EnergyWorld

Jakarta: Indonesia has approved a giant solar link between Australia and Singapore after a $ 2.5 billion investment pledge, authorities said Thursday.

Southeast Asia’s largest economy has agreed to clear Sun Cable’s Australia-Asia PowerLink or AAPowerLink route through Indonesian waters and approved the underwater study permit.

“We expect this project to have a lasting impact on our economy through various procurement programs that will benefit industry and government revenue,” Coordinating Minister of Maritime Affairs and Investment Luhut said. Binsar Panjaitan at a virtual press conference in Jakarta.

AAPowerlink will generate solar electricity from one of the largest solar farm projects in the world and transmit it from Darwin to Singapore from 2028.

The project is expected to supply up to 15 percent of Singapore’s electricity needs and reduce the country’s emissions by about six million tonnes per year.

The company will not supply renewable energy directly to Indonesia, but has pledged around $ 1 billion in direct investments in the purchase of equipment and services and an additional $ 1.5 in operational spending over the life of the company. life of the project.

“We are very pleased to announce that this project will invest US $ 2.58 billion in Indonesia,” said Sun Cable CEO David Griffin.

“We want this landmark project to create a radical shift in the Indo-Pacific’s ability to achieve net zero ambitions and economic growth supported by renewable energy.”

The more than A $ 30 billion project includes the construction of the massive solar farm in Australia’s Northern Territory, the world’s largest battery, and a high-voltage submarine cable system of approximately 4,200 kilometers from Darwin to Singapore.

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