Indonesia plans to offer to international investors opportunities to build 75 gigawatts (GW) of renewable power in the country in the next 15 years.
Indonesia’s Climate Explains The Plan
Hashim Djojohadikusumo, Indonesia’s climate envoy spelt out these plans on the sidelines of the COP29 summit.
Hashim who is Indonesia’s envoy to the 2024 United Nations Climate Change Conference in Azerbaijan, described the plan as a commitment of President Prabowo Subianto.
Notably, Hashim is the brother of President Subianto.
Pledge to Achieve Carbon Neutrality By 2060
Indonesia, one of the world’s biggest greenhouse gas emitters, has pledged to attain carbon neutrality by 2060.
Furthermore, it plans to phase out coal-fired power plants and replacing them with renewables.
In a livestreamed speech, Hashim said that 100 GW of new energy will be implemented in the new administration in the next 15 years.
He said that 75%, or 75 GW of the new energy will be renewable.
Nature Of Renewable Projects
The renewable projects would include solar, hydro, geothermal and nuclear power, Hashim said.
He did not explain plans for the remaining 25 GW.
Indonesia’s current installed power capacity is more than 90 GW.
Notably, more than half of its installed power capacity is powered by coal and less than 15% by renewables.
No Nuclear Capacity
It currently has no nuclear capacity, a controversial topic in a country prone to earthquakes.
Indonesia’s state-power utility Perusahaan Listrik Negara is designing a new green transmission line spanning 70,000 km (43,500 miles), its chief executive Darmawan Prasodjo said.
Indonesian authorities have often promoted the country’s potential in renewables.
It has however not developed much renewable capacity due to subsidies for coal that make renewable tariffs unattractive for investors, analysts have said.
In his speech, Hashim also said Indonesia plans to offer carbon offset projects that could remove hundreds of millions of metric tons of carbon emission from the atmosphere.
He did not elaborate on these projects.
Project Of Reforesting Degraded Forests
Prabowo will also embark on a years-long project of reforesting 12.7 million hectares of severely degraded forests with funding that includes foreign sources, Hashim said.
He said that Bezos Earth Fund, Jeff Bezos’s $10 billion green funding project, has already shown interest.
(With inputs from Reuters)
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