Indonesia Delays $20B Energy Transition Fund Investment Plan

Indonesia Delays $20B Energy Transition Fund Investment Plan

Time Stamp: August 17, 2023 12:00 AM
Source Node: 2827800

Indonesia has delayed its plans to announce investments from a $20 billion fund that will help the country transition to cleaner energy sources until later in 2023, authorities said August 15.

The detailed investment plan was expected to be made public August 15, but officials in charge of drafting the strategy said the timeline for publication had to be delayed because new data was added to the proposal, according to Reuters. Officials said the delay will give technical experts more time to prepare a pathway for the power sector’s transition and provide a window for public comment before the plan is finalized.

The investment aims to close some of Indonesia’s coal plants, help the country adopt greener sources of power, and advance the sector’s peak emissions target by seven years to 2030. 

The Just Energy Transition Partnership (JETP), which is a coalition of nations led by the U.S. and Japan, has promised to make public and private funds available to help several countries adopt cleaner energy sources. The Indonesian government and JTEP member nations said they had received a draft of the plan, but its details will not be made public until it has been reviewed by the country.

“Without the intense transparency of the funding scheme, a just energy transition is not possible,” said Bhima Yudhistira, the director of the Center of Economic and Law Studies, an Indonesian think tank.

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