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Govt eyes $6 billion in forex revenue from solar power exports
The domestic industry is projected to produce 16.4 gigawatt-peaks (GWp) worth of solar panels per year as well as 31.4 gigawatt-hours (GWh) per year worth of battery storage systems.
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Power of cooperation: Hilly terrain forms a backdrop on Nov. 9, 2023, against the Cirata Floating Solar Power Plant at Cirata Reservoir in Purwakarta, West Java, the largest energy facility of its kind in Southeast Asia that was developed jointly by the Indonesian government and Abu Dhabi-owned renewable company Masdar. (AFP/Bay Ismoyo)
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olar power export and solar panel supply chain development projects are estimated to bring billions of US dollars to Indonesia’s economy, including around US$ 6 billion in foreign exchange reserves.
Rachmat Kaimuddin, second undersecretary at the Coordinating Infrastructure and Regional Development Ministry said Indonesia has 3,200 gigawatts (GW) that it could tap to support the country’s shift from fossil fuels to renewable electricity.
To fully optimize that potential, he pointed out that the development of solar power projects needs to be pursued simultaneously with the development of the domestic solar panel industry.
“If most of our renewables come from solar [power], it means that Indonesia must have a solar value chain. [God forbid] when we are running out of fossil fuels, we still have to import [...] solar panels. So, we must have [a domestic value chain],” he said on Thursday, as reported by Kumparan.
As of today, Indonesia has signed an agreement to export 3.4 GW of solar power to Singapore.
“But there are several conditions, two of which are that the solar panels and batteries must be made in Indonesia because we want to build a local supply chain,” he said.
Read also: Singapore OK's importing 1.4 GW more solar power from RI
