Sustainable investment opportunities open in Indonesia says minister
Nurul Ichwan, Deputy for Investment Promotion at the Ministry of Investment, said the growing demand for sustainable products is boosting new investments in clean and renewable energy sectors at the domestic and international levels.
He said, “Mining and downstream industry become one of the sectors that use new and renewable energy”, according to local news portal Tempo.
The minister added that sustainable companies are highly popular across genders and generations. Citizens prefer sustainable products despite their relatively higher cost.
Indonesia’s green investment in ASEAN is progressing well but has not yet reached its full potential. Sustainable investment opportunities extend beyond the energy and critical minerals sectors to include activities that achieve economic prosperity while abiding by ecological boundaries.
Read more: Indonesia’s state energy firm, Exxon, KNOC sign agreement for carbon capture and storage hub
According to Nurul, the opportunity to invest in new renewable energy in Indonesia is very large, but there are several challenges, including benchmark prices, so investors can adjust accordingly.
On the sidelines of the 2024 Road to PLN Days, he told the media that investors are eagerly waiting for the price benchmarks to invest in new renewable energy in the country.
The government aims for a renewable energy mix of 23% by 2025. However, according to the Ministry of Energy and Mineral Resources, it was only 15% as of July 2023.
Indonesia’s potential for new and renewable energy is vast, reaching 3,686 GW. This includes 3,295 GW from solar power, 95 GW from hydrogen, 57 GW from bioenergy, 155 GW from wind, 24 GW from geothermal, and 60 GW from marine sources.
“The government continues to strive to create a conducive investment climate to achieve the Net-Zero emission target,” Nurul added.
CalPERS allocates nearly $10 billion to climate action...
-
The California Public Employees’ Retir...
- 05/07/2024
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
ERM, a sustainability consultancy company, announced that it has commenced offshore trials to test the key elements of its Dolphyn Hydrogen process. The trials mark […]
European Energy announced that it had acquired grid connection approvals for nearly 500 megawatts (MW) of solar and wind energy projects across Romania. The approvals […]
In its second-quarter update, Shell announced that it would incur an impairment charge of up to $2 billion following the sale of its Singapore refinery […]
The California Public Employees’ Retirement System (CalPERS) announced a commitment of almost $10 billion to advancing global efforts to transition to a low-carbon economy. This […]
The European Commission announced that it has approved a €10.82 billion French scheme to support offshore wind energy deployment. It aims to help foster a transition […]
ENGIE announced that it signed a 7-year Biotmethane Purchase Agreement (BPA) with BASF. According to the agreement, ENGIE will supply the chemicals company with 2.7 […]