Indonesia, reliant on coal for power but committed to a clean energy transition, awaits a significant portion of the $20 billion pledged by developed nations to finance the shift.
Indonesia , the largest economy in Southeast Asia , is still awaiting a large part of the $20 billion funding it was promised by the richest nations to facilitate its move away from coal, a government official said on Monday. “If you push us to retire our coal plants early, how do we finance it The interest on the finance needs to be attractive,” Luhut Pandjaitan, a senior minister overseeing mining, said at the Coaltrans Asia industry event, as carried by Reuters.
To achieve total power sector emissions peaking by 2030, the long-term partnership said in 2022 that it intends to mobilize an initial $20 billion in public and private financing over a three-to-five-year period, using a mix of grants, concessional loans, market-rate loans, guarantees, and private investments. These investments are expected to help Indonesia achieve the other main targets of the JETP.
Coal Transition Just Energy Transition Partnership (JETP) Renewable Energy Funding Gap Net-Zero Emissions Power Sector Coal Exports Southeast Asia
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