Steam rises from PT Vale Indonesia's nickel processing plant in Sorowako, South Sulawesi, Indonesia on Sep 12, 2023. JAKARTA: Indonesia aims to unveil its US$20 billion energy transition investment plan next month, an official said on Friday , days before the United Nations COP28 climate summit as Jakarta tries to resolve issues on funding and energy mix for the initiative.
The new target is for JETP plans to be released for public feedback on Nov 1, with an official launch set for around Nov 20, Paul Butarbutar, deputy secretary of Indonesia's JETP office, told reporters. Indonesia has agreed to cap and peak the power sector's carbon emissions at 290 million metric tons by 2030 under the JETP, following the IPG's commitment to provide financial support through a blend of equity investments, grants and concessional loans.
Currently more than half of the electricity capacity in Indonesia, the world's biggest exporter of thermal coal, is fuelled by coal.