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BUSINESS AND TRADE - JAKARTA, Oct 7 - Indonesia plans to review its electricity export deals to ensure the country gains more benefits from them, Bahlil Lahadalia, the senior minister overseeing energy, said on Wednesday.
Indonesia signed a deal in 2025 with maritime neighbour Singapore to export 3.4 gigawatts of low-carbon power by 2035.
The deal could bring in $10 billion of investment for the manufacturing of solar panels, the development of carbon capture projects and the potential construction of industrial estates, Bahlil said at the time.
The deal was reaffirmed during a July visitto Jakarta by Singapore's prime minister.
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In his Wednesday remarks, Bahlil did not mention Singapore by name, though Indonesia has not signed power export deals with any other countries.
"I think we can export, provided that we set the price ourselves," he told a business conference in Jakarta.
"Not only do they want to set the price, they even pick the business themselves," he said, referring to the companies expected to develop the projects. He did not provide further details.
Bahlil was given the senior role of Coordinating Minister of Downstreaming and Energy Transition in President Prabowo Subianto's cabinet reshuffle last week, on top of his existing role as energy minister.
The review of the deal will be one of the issues his newly formed coordinating ministry plans to address, Bahlil said.
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The new coordinating ministry will cover energy, mining and investment, and oversee other ministries linked to downstream industrial developments, he said.
"So we can trade, but we will also protect our sovereignty, and won't sell ourselves cheaply. And for this matter, the president's direction is to reorganise to safeguard the interests of the country above all else," he said.
