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SM Teo Unveils Extra 1.4GW Green Power Deal with Indonesia

Singapore has approved an additional 1.4 gigawatts of green power imports from Indonesia, as part of a wider regional push to help Southeast Asia reach net-zero emissions.

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Archive · 5 Sept 2024
SM Teo Unveils Extra 1.4GW Green Power Deal with Indonesia
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KEY POINTS

  • ●Singapore has approved two new projects to import an extra 1.4GW of low-carbon electricity from Indonesia, adding to five previously approved projects that bring in 2GW.
  • ●Three main pathways for a greener ASEAN include building more green energy infrastructure, using carbon capture and storage technology, and securing funding for these projects.
  • ●The ASEAN Power Grid would connect electricity supplies across Southeast Asian countries, allowing them to share clean energy more easily through undersea cables.
  • ●A financing initiative called FAST-P aims to raise up to US$5 billion to fund green energy projects across Asia.
  • ●Indonesia and Singapore are jointly developing rules for carbon capture and storage technology.

IN SIMPLE TERMS

Singapore is buying more clean electricity from Indonesia to use instead of energy that pollutes the air. A senior government official explained that Southeast Asian countries are working together to fight climate change by sharing clean energy and using new technology to catch harmful gases before they harm the atmosphere.

WHY IT MATTERS

Climate change is projected to warm the world by 2.1 to 2.8 degrees Celsius by 2100 without urgent action, making regional cooperation essential.
Regional power sharing through the ASEAN Power Grid can help countries reduce reliance on fossil fuels and lower energy costs.
Green energy projects create new jobs and enable economies to grow in a sustainable way rather than through polluting industries.
Working together on climate solutions helps protect Southeast Asian communities from flooding, heatwaves, and other climate-related disasters.

WHERE DO YOU STAND?

Should Southeast Asian countries prioritise building undersea cables to share clean energy across the region, even if the upfront costs are high?

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The Full Story
  1. Senior Minister Teo Chee Hean speaks at sustainability forum in Jakarta.
  2. Three key pathways proposed for a net-zero ASEAN.
  3. New projects approved to import low-carbon electricity (green power) from Indonesia to Singapore.

Singapore’s Senior Minister outlines plans for a greener ASEAN future at a key forum in Jakarta.

Key Terms Simplified

  • Net-zero means not adding any more harmful gases to the air than we take out.
  • Carbon Capture and Storage (CCS) is a way to catch harmful gases and store them underground.
  • ASEAN Power Grid is a plan to connect electricity supplies across Southeast Asian countries.

Singapore’s Senior Minister Shares Green Vision

On 5 September 2024, Singapore’s Senior Minister Teo Chee Hean spoke at a major meeting in Jakarta.

The meeting was called the Indonesia International Sustainability Forum 2024.

SM Teo Chee Hean talked about ways to make Southeast Asia more eco-friendly.

He said the world is getting warmer, which is bad for everyone.

According to PMO, SM Teo stated, “The world is currently on a pathway to 2.1 to 2.8 degrees Celsius of global warming by 2100.”

This means we need to act fast to stop the earth from getting too hot.

Three Ways to a Greener ASEAN

SM Teo suggested three main ways to help ASEAN countries become more eco-friendly:

  • Build more green energy structures.
  • Use new technologies to catch harmful gases.
  • Find ways to pay for these green projects.

These ideas can help ASEAN countries work together to fight climate change.

One big plan is to connect all ASEAN countries’ power supplies.

This is called the ASEAN Power Grid.

It would help countries share clean energy with each other.

New Green Energy Projects Approved

Singapore has approved new projects to bring clean energy from Indonesia.

Last year, they approved five projects to bring in 2GW of green power.

Now, they’ve approved 2 more projects for an extra 1.4GW of low-carbon electricity.

This is like buying wind electricity from Vietnam, which Singapore also wants to do.

These projects will help Singapore use more clean energy and less dirty energy.

Working Together for a Better Future

SM Teo Chee Hean said countries need to work together to build better power lines.

He stated, “If we want a truly interconnected regional grid in ASEAN, we must work together to develop subsea cables.”

This means building special cables under the sea to connect countries’ power supplies.

It’s a big job, but it can help ASEAN countries share clean energy easily.

New Ways to Catch Harmful Gases

Another important idea is to use new technology to catch harmful gases.

This is called Carbon Capture and Storage (CCS).

CCS can help catch gases that warm up the earth before they go into the air.

Indonesia and Singapore are working together to make rules for using CCS.

This technology, along with tidal energy, could be the future of clean power in Singapore.

Paying for Green Projects

SM Teo also talked about ways to pay for these big green projects.

He mentioned a plan called Financing Asia’s Transition Partnership (FAST-P).

This plan aims to raise up to US$5 billion for green projects in Asia.

The money will help make projects that are good for the environment but hard to pay for.

ProjectGoal
ASEAN Power GridConnect power supplies across Southeast Asia
Carbon Capture and StorageCatch harmful gases before they enter the atmosphere
FAST-PRaise money for green projects in Asia

Why This Matters

Climate change is a big problem that affects everyone.

It can cause floods, heatwaves, and other problems that hurt people and businesses.

By working together, ASEAN countries can fight climate change better.

They can also create new jobs and help their economies grow in a clean way.

What’s Next?

SM Teo Chee Hean ended his speech with hope for the future.

He said, “There are clear pathways to success. There are many opportunities for Indonesia and Singapore to work together.”

This means that even though the job is big, there are good plans to make things better.

Countries in Southeast Asia will need to work hard to make these plans happen.

But if they do, they can create a cleaner, safer future for everyone.

The plans shared at this forum show that ASEAN countries are serious about fighting climate change and creating a greener future.

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