The Indonesian Chamber of Commerce and Industry highlighted Indonesia’s huge potential in the green and renewable energy sector, noting that the country has the second-highest capacity for nature-based solutions in the world after Brazil, with up to 1.5 GtCO2 per year.
JAKARTA, July 17 (Xinhua) — Indonesia is seeking investors to fund green and renewable energy projects to support the country’s agenda of fighting climate change and promoting sustainable economic growth.
Indonesia is hoping for about $281 billion in green investment funding out of the total $1.1 trillion needed to achieve its green energy goal, the country’s coordinating minister for economic affairs, Airlangga Hartarto, said at a recent event. Net Zero Reduce emissions by 2060.
As part of efforts to attract foreign investors, the Indonesian government has proposed 21 sustainable green infrastructure projects, of which 19 are related to pipeline projects. Hartarto noted that the two projects that are ready for investment are Green Refinery Cilacap in Cilacap and Green Refinery Plaju in South Sumatra, each worth $860 million.
“Investments in green and renewable energy will support Indonesia’s clean energy and sustainable infrastructure,” Hartarto said in Jakarta.
In addition to the pipeline project, Indonesia is also focusing on building solar power plants across the country to reduce its reliance on finite and polluting fossil fuels.
Meanwhile, Indonesia’s Ministry of Energy and Mineral Resources has proposed to investors 12 geothermal power plant development projects requiring investments of up to $2.16 billion. The projects have a generating capacity ranging from 15 megawatts to 60 megawatts.
Eniya Listani Dewi, director of the ministry’s New and Renewable Energy and Energy Conservation Agency, said the government was currently collecting data on all existing energy potential in the country.
“Geothermal and hydropower are open to any investment,” Dewi said in Jakarta on Tuesday.
Meanwhile, Undersecretary for Infrastructure and Transport Coordination at the Coordinating Ministry for Maritime Investment Ratimat Kaimuddin said Indonesia has abundant mineral resources, key materials used in downstream industries for the production of renewable energy and energy conversion technologies.
“By leveraging renewable resources, our goal is not only to achieve our emissions targets but also to make Indonesia a leader in green and renewable energy technologies. To realise this vision, the government has a great responsibility to attract investments that are commensurate with Indonesia’s economic potential and climate commitments,” Kaimuddin said in a press release.
Meanwhile, the Indonesian Chamber of Commerce and Industry highlighted Indonesia’s huge potential in the green and renewable energy sector, noting that it has the second-highest capacity for nature-based solutions in the world after Brazil, with up to 1.5 GtCO2 per year.
“Indonesia has a total of 3,686 GW (gigawatts) of renewable energy resources: 3,295 GW of solar power, 95 GW of hydropower, 57 GW of bioenergy, 155 GW of wind power, 24 GW of geothermal energy and 60 GW of marine energy. However, of this capacity, only 12.54 MW (megawatts) is actually utilised,” Shinta Wijaya Kamdani, the chamber’s vice president for maritime, investment and foreign affairs, said in a statement.
“Developing this potential will enable Indonesia to have more than 1.1 terawatts of renewable energy capacity and become a leader in the global transition to renewable energy,” she added.■
