Indonesian President Promotes Danantara–Temasek Collaboration in Renewable Energy Development

Indonesian President Prabowo Subianto has called for deeper cooperation between Danantara, Indonesia’s newly established sovereign wealth fund, and Temasek Holdings, Singapore’s state-owned investment company, with a focus on renewable energy and sustainable industrial development.

“We welcome stronger collaboration between Temasek and Danantara, especially in the areas of renewable energy and sustainable industrial zones,” Prabowo said during the annual Singapore–Indonesia Leaders’ Retreat, held on Monday in Singapore, alongside Prime Minister Lawrence Wong.

In a pre-recorded address, Prabowo emphasized the strategic importance of a partnership between the two sovereign wealth funds in promoting low-carbon energy projects and developing infrastructure in Indonesia’s Riau Islands Province, particularly in Batam, Bintan, and Karimun, which lie just across the maritime border from Singapore.

He also expressed gratitude for Singapore’s significant investment footprint in Indonesia, noting that the city-state accounted for nearly one-third of Indonesia’s total foreign direct investment in the past year.

The President highlighted Danantara’s role as a strategic investment vehicle, designed to support Indonesia’s long-term economic resilience and energy transition goals.

Prabowo also acknowledged that Temasek served as an inspiration for Danantara’s formation. “We proudly modeled our sovereign wealth fund after Temasek. Just a few months ago, we launched Danantara, our own version,” he said.

Reinforcing Indonesia’s openness to international best practices, Prabowo additionally pointed to Singapore’s subsidized housing model as a potential reference for future policy initiatives.