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Indonesia has launched an investment plan to secure US$20 billion in financing from global lenders to decarbonize the power sector.
The plan aims to reduce CO2 emissions to 250 million tonnes by 2030. The country is one of the world’s largest emitters of greenhouse gases and plans to increase the share of renewable energy in electricity generation to 44% by 2030. The investment plan, known as the Integrated Investment and Policy Plan (CIPP), proposes that $97.3 billion will be needed to invest to achieve the 400 projects launched by 2030.
The funding commitment of the Just Energy Transition Partnership (JETP) is believed to drive energy transition investment and attract more financing. However, half of the funding will come from private financing, raising concerns among some environmentalists about commercial loans.
(Source: Reuters Image source: freepik)
