At the COP29 summit, Indonesia announced an innovative strategy to attract global investments to develop 75 gigawatts (GW) of renewable energy projects over the next 15 years.
Indonesia’s climate envoy, Hashim Djojohadikusumo, presented this initiative, emphasizing the nation’s commitment to transitioning to cleaner energy sources.
Commitment to Carbon Neutrality
As the world’s eighth-largest greenhouse gas emitter, Indonesia has committed to achieving carbon neutrality by 2060. The Indonesian government aims to replace coal-fired plants with renewable energy, marking a major shift in its energy policy.
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During his speech, Hashim highlighted that the new administration’s 15-year plan will add 100 GW of new power capacity, with 75 GW specifically from renewable energy sources. This expansion will involve a diverse energy mix, including solar, hydroelectric, geothermal, and nuclear power, leaving 25 GW to be determined.
Hashim said, “There will be 100 GW of new energy that will be implemented in the new administration in the next 15 years, of which 75%, or 75 GW, will be renewable energy.”
Indonesia’s PLN is building a 70,000 km green transmission network to support the distribution of renewable energy resources. However, low tariff rates and coal subsidies undermine renewable investments, highlighting the urgent need to address these challenges.
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Carbon Offset and Reforestation Initiatives
In addition, Indonesia plans to implement carbon offset initiatives to eliminate hundreds of millions of metric tons of carbon emissions.
The country plans to launch a large-scale reforestation program to rehabilitate 12.7 million hectares of degraded forests. International partners, such as the Bezos Earth Fund, a $10 billion initiative by Jeff Bezos, will offer funding support.
As discussions continue at COP29, Indonesia’s ambitious goal illustrate a significant shift in the nation’s energy and environmental strategies.