Regarding the export of electricity to Singapore, Bahlil said the price was not win-win.

Minister of Energy and Mineral Resources or ESDM Bahlil Lahadalia. (Teddy VOI)

JAKARTA - The plan to export Indonesian green electricity to Singapore is not yet fully resolved. Minister of Energy and Mineral Resources or ESDM Bahlil Lahadalia said the process is underway, but the price negotiations are still a point that must be resolved.

The statement was made by Bahlil after President Prabowo Subianto's meeting with Singaporean Prime Minister Lawrence Wong at the Merdeka Palace, Jakarta, Monday, July 6.

Bahlil said that Indonesia's energy cooperation with Singapore is not only about electricity exports. According to him, there are three memorandums of understanding or MoUs that have been signed since last year.

"From a year ago we have signed a MoU. There are three MoUs," said Bahlil.

The three MoUs include the export of green electricity to Singapore, green industrial areas, and carbon capture and storage.

Green electricity refers to electricity that comes from clean or low-emission energy sources. Meanwhile, CCS is a technology for capturing and storing carbon so that it does not escape into the atmosphere.

"One is the export of electricity to Singapore, green electricity. The second is the green industrial area. The third is for CCS storage," said Bahlil.

Bahlil said that the three collaborations were a package. The MoU was signed last year and now the process of exporting electricity to Singapore is still ongoing.

However, Bahlil admitted that the discussion was not complete. The most important point at this time is the price.

"Regarding electricity to Singapore, the process of stages is running. But we are still negotiating about the price," said Bahlil.

According to Bahlil, the price regulation is in the hands of the government. Therefore, Indonesia wants to ensure that the cooperation is mutually beneficial.

"Our regulation is that the price is in the government. We want there to be a win-win, mutually beneficial. Cooperation must be mutually beneficial," said Bahlil.

Bahlil said the discussion had been carried out. He estimated that a meeting point could be reached soon if both parties found a formula that would benefit both parties.

"I think soon there will be a meeting point. We want everyone to have a win-win benefit for both parties," said Bahlil.

When asked whether the cooperation was mutually beneficial, Bahlil replied no.

"It's not a win-win. I feel it's not a win," said Bahlil.

Bahlil's statement shows that the green electricity export project to Singapore is still on the negotiating table. Cooperation has been carried out in the form of documents, but the economic value has not been completely locked.