Indonesia needs 167 bln USD to build 56 GW of renewable energy plants

Indonesia needs 167 bln USD to build 56 GW of renewable energy plants
A geothermal power plant in Indonesia. (The Indonesia Ministry of Energy and Mineral Resources)

Jakarta (Indonesia Window) – Indonesia needs an investment fund of 167 billion U.S. dollars for the development of additional renewable energy power plants with a total capacity of 56 Gigawatts (GW).

“We need an investment of about 167 billion U.S. dollars to reach the emission reduction target by 2030, by building an additional 56 GW of renewable energy power plants,” said the Environment Director at the National Development Planning Agency Medrilzam here on Friday (March 5), according to Antara News Agency.

According to him, this year the Indonesian government is targeting investment in the green energy sector worth 2.05 billion U.S. dollars, or higher than that in 2020 of 1.36 billion U.S. dollars.

Based on the agency’s study, there are six types of renewable energy available and have been developed commercially in Indonesia, namely solar energy, wind energy, geothermal energy and bioenergy.

Meanwhile, the potentials of renewable energy that have yet to be developed in the archipelagic country include those of sea waves and hydrogen.

“The total potentials of renewable energy for power plant in Indonesia are estimated at 419 GW. Of the total potentials, nearly half is solar power of 207 GW, followed by hydropower 75 GW, and wind energy 60 GW,” Medrilzam noted.

In the National Energy General Plan, Indonesia targets a green energy mix of 23 percent by 2025 and a reduction in carbon emissions of 29 percent by 2030 in accordance with the Paris Agreement.

“The energy mix is ​​currently at 11.5 percent of the target of 23 percent. In an effort to achieve this target, the government is boosting the development of renewable energy in the forms of regulations, stimuli and incentives,” said Medrilzam.

Data from the Ministry of Energy and Mineral Resources show that the capacity of renewable energy power plants in Indonesia in 2020 is 10,467 Megawatts (MW), consisting of hybrid power (3.6 MW), wind power (154.3 MW), solar power (153.8 MW), bio energy (1,903.5 MW), geothermal power (2,130.7 MW), and hydropower (6,121 MW).

Reporting by Indonesia Window

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