Singa Renewables Pte. Ltd., a joint venture between TotalEnergies SE and RGE (Royal Golden Eagle) Pte. Ltd., has been granted a conditional license by Singapore’s Energy Market Authority (EMA) to import 1 gigawatt (GW) of renewable power from Indonesia.
TotalEnergies also said in a media release that the joint venture partners signed a memorandum of understanding (MOU) with Singapore Energy Interconnections Pte. Ltd. to jointly develop a subsea interconnector, enabling electricity imports from Indonesia to Singapore.
The two companies earlier formalized a Co-Investment Agreement to construct, develop, and manage a hybrid renewable energy facility that includes a solar farm, a battery energy storage system (BESS), and an underwater cable in Riau Province, Indonesia.
The initiative will provide clean firm power to consumers with high energy demands in Singapore as well as to industrial facilities near the solar installation in Riau Province, Indonesia.
During the project’s development, the partners will leverage TotalEnergies’ international expertise in large-scale energy initiatives while taking advantage of RGE’s extensive presence in Indonesia and Singapore, TotalEnergies said.
Helle Kristoffersen, President for Asia and Executive Committee Member at TotalEnergies, said, “The project will contribute to Singapore’s goal of reaching net zero emissions by 2050 while supporting Riau Province’s economic development in Indonesia. This initiative also illustrates TotalEnergies’ commitment to ASEAN’s energy transition and security of supply”.
“We are doing our part to accelerate the region’s clean energy transition”, Imelda Tanoto, Managing Director at RGE, said. “The Conditional License is a key milestone that affirms our role in advancing the region’s collaboration and decarbonization goals as we remain focused on creating lasting value for communities, markets, and governments alike”.
TotalEnergies aims for 35 GW of installed renewable capacity and over 100 TWh of net electricity production by 2030.
Source: by Paul Anderson for Rigzone Staff