Prabowo eyes Danantara-Temasek partnership in renewable energy

Jakarta (ANTARA) - President Prabowo Subianto has encouraged greater collaboration on renewable energy projects between Indonesia’s sovereign wealth fund, Danantara, and Singapore’s Temasek Holdings.

“We look forward to strong cooperation between Temasek and Danantara, particularly in renewable energy and sustainable industrial zones,” Prabowo said during the annual leaders’ retreat with Singaporean Prime Minister Lawrence Wong in Singapore on Monday.

In a recorded message, Prabowo noted that the two sovereign wealth funds (SWFs) have the potential to advance low-carbon energy initiatives and develop key infrastructure in Batam, Bintan, and Karimun in Indonesia’s Riau Islands Province, which shares a maritime border with Singapore.

He also expressed appreciation for Singapore’s substantial contribution to Indonesia’s economy, pointing out that capital from the city-state accounted for about one-third of Indonesia’s total foreign direct investment last year.

“Thank you for the trust you have placed in us. We are committed to taking this collaboration and partnership to the next level,” he said.

Prabowo highlighted Danantara’s strategic role, describing it as a source of future energy for Indonesia. He explained that the name Danantara reflects the country’s aspirations to build long-term strength through investment for future generations.

He also told Prime Minister Wong that Danantara was inspired by the success of Temasek in managing Singapore’s national wealth.

“We proudly replicated your sovereign wealth fund, Temasek. Several months ago, we launched our own version, called Danantara,” he said.

Underscoring Indonesia’s openness to global best practices, Prabowo also mentioned Singapore’s subsidized housing policies as another area of interest.