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View all search resultsDanantara eyes $30b solar project on power exports to Singapore
The state asset fund is eyeing a US$30 billion renewable energy project that will export power to Singapore as well as supply the national grid, but licensing and funding issues related to a prior solar farm deal continues to cast a cloud of uncertainty among investors.
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Workers check solar panels on Nov. 7, 2019, at Tirtonadi Terminal in Surakarta, Central Java, in connection a 500,000-watt Transportation Ministry project to power the bus terminal. (JP/Ganug Nugroho Adi)
S
tate asset fund Danantara is gunning for investment in a US$30 billion renewable energy export project to Singapore, according to an executive at the state asset fund who cited investors’ huge appetite for green energy procurement projects.
Chief investment officer Pandu Sjahrir said the proposed project would include solar power infrastructure development and a cross-border power transmission network.
“We will carry out and review energy exports to Singapore,” Pandu said on Thursday, highlighting that the planned solar farms “will probably be the biggest” in Southeast Asia, as quoted by to state news agency Antara.
He said the project also involved developing the national power grid and a transmission network connecting to Singapore at a cost nearing “at least” $30 billion.
Some private companies had secured previous agreements with Singaporean, Pandu said, adding that he could not divulge technical details or how the cooperation would materialize at this time.
He said the project was a continuation of a solar panel development commitment discussed at the Indonesia International Sustainability Forum in October 2025.
According to Pandu, the project will generate electricity for exports to Singapore as well as the national grid.
