JETP INDONESIA: Would It Boost Renewable Energy Development? (LIVE TONIGHT)
Welcome The Experts Discussion Tonight!
Indonesia’s JETP notes the need to balance industrial development and economic growth considerations against emission reduction.
The Indonesia JETP calls for renewables to comprise 34% of power generation by 2030. The government had previously aimed to raise the share of renewables to 23% by 2025 and 31% by 2050, from 11.5% in 2021. The JETP also targets accelerated retirement of coal-fired power plants, with power emissions to peak by 2030 at no more than 290 million metric tonnes of CO2 equivalent. Bilateral funding partners seek to mobilize USD20 billion to finance the plan, with at least half coming from the private sector.
One of the international media believes early decommissioning of coal-fired plants is unlikely unless matched with funding for alternative sources of employment and power generation. The plan may also help to mobilize finance for the development of the domestic renewables sector. Otherwise, the government could be wary of pushing to boost renewables investment if this sharply increases the energy sector’s reliance on imported materials and technology.
PJCI does not expect the JETP to have a major impact on capex plans over the next five years at Perusahaan Listrik Negara (PLN), the country’s dominant power generator and monopoly electricity distributor. Consequently, its impact on the company’s ‘bb+’ (high risk to get invest) stand alone credit profile will be limited in the near term; its ‘BBB’/Stable ratings are equalized with the sovereign. Nonetheless, we believe the company will be central to the government’s energy-transition efforts.
🔹 Dr, Joko Tri Haryanto | Center for Climate Change Financing Policy and Multilateral Fiscal Policy Agency of the Ministry of Finance (BKF KEMENKEU RI)
🔹 Ir. Eddie Widiono | Founder and Chairman Supervisory Board PJCI) and
🔹 Elrika Hamdi | Energy Finance Analyst at Institute for Energy Economics and Financial Analysis (IEEFA)
PJCI raised this topic, because in the framework of the G20 in Indonesia this year and in welcoming Indonesia's steps and efforts in terms of smart green building. This can be done in various ways, including the implementation of a comprehensive green building in Indonesia. Hopefully all the thoughts and questions in the minds of all the general public can be answered in this live Instagram discussion session, of course with the experts:
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