Indonesia launches $20 bln renewable energy investment plan

Indonesia launched on Tuesday its investment plan to mobilise $20 billion in financing pledged by global lenders led by the United States and Japan to accelerate its power sector decarbonisation and called for immediate fund disbursement.
Under Indonesia’s Just Energy Transition Partnership (JETP) the country seeks to cut carbon dioxide emissions to 250 million metric tons for its on-grid power sector by 2030, versus estimated business-as-usual emissions of over 350 million.
The investment proposal, known as Comprehensive Investment and Policy Plan (CIPP), was officially announced following a public consultation period after the draft was made public earlier this month.
Indonesia, one of the world’s biggest greenhouse gas emitters, plans to increase the portion of renewable energy in its power generation to 44% by 2030 from around 12% in 2022.