Indonesia’s renewable energy investment plan, which was presented at COP29, aims to increase the nation’s capacity for renewable energy to 75 gigawatts (GW) in the next 15 years.
This ambitious objective highlights the importance of renewable energy sources such as hydropower, geothermal, wind, and solar.
As Hashim Djojohadikusumo, President Prabowo’s brother, who was also Indonesia’s representative to the UN Climate Change Conference 2024 in Baku, Azerbaijan, stated
“A new government will implement 100 GW of new energy over the next 15 years, with 75% or 75 GW coming from renewable energy.” as reported by Bisnis.com
Since Indonesia wants to contribute significantly to the transition to green energy, this goal is in line with global climate pledges.
Indonesia is also using COP29 to attract foreign investment by highlighting its vast renewable energy potential and urging other international investors to follow Indonesia’s lead in sustainable energy.
Indonesia’s 75 GW Renewable Energy Target
Indonesia has established a bold objective to boost its renewable energy capacity to 75 GW within the next 15 years, with a primary focus on solar, wind, geothermal, and hydropower.
This aim aligns with Indonesia’s initiatives to lower carbon emissions and meet its international climate obligations, particularly under the Paris Agreement.
Considering Indonesia’s abundant renewable resources, especially in geothermal energy where it possesses the largest reserves globally, this objective is regarded as attainable.
The government plans to enhance both large-scale renewable energy initiatives and decentralized solutions for local communities.
Achieving this target will not only facilitate Indonesia’s transition to a more sustainable energy future but also draw significant investments in renewable energy and promote long-term economic development.
COP29 as a Platform for Renewable Energy Investment
COP29 serves as a crucial platform for Indonesia to secure international investment for its renewable energy goals.
At the conference, Prabowo Subianto and other officials highlighted Indonesia’s vast renewable energy potential.
By showcasing the country’s plans for 75 GW of renewable energy capacity, Indonesia aims to attract foreign investors interested in green energy projects.
The conference provides an opportunity for Indonesia to build relationships with international partners, showcase its commitment to climate goals, and demonstrate how renewable energy investments can lead to both economic growth and sustainable energy solutions.
With international attention focused on climate action, COP29 proved to be a pivotal moment for Indonesia in the green and renewable energy initiative.
Overcoming Challenges for a Greener Indonesia
Indonesia’s energy transition faces several challenges, including the need for modern infrastructure, financing, and skilled labor to support the growing renewable energy sector.
While Indonesia’s 75 GW renewable energy target is ambitious, the additional goal of 75 GW renewable energy and 5 GW nuclear power by 2040 is expected to cover only about 35% of the country’s projected electricity demand with fossil-free energy.
As Centre for Research on Energy and Clean Air (CREA) analyst Katherine Hasan noted, “This means that the target must be more than doubled for President Prabowo Subianto’s vision to become a reality.”
However, these challenges present opportunities for innovation, such as the development of carbon capture and storage (CCS) technologies, which could significantly reduce emissions.
By addressing these obstacles, Indonesia can unlock new pathways to a sustainable energy future while driving economic growth.
Indonesia’s Path to a Sustainable Energy Future
Indonesia’s renewable energy goals, including the 75 GW target, mark a significant step towards a sustainable energy future.
By leveraging international investment and technological advancements, Indonesia can overcome challenges and meet its climate commitments.
Achieving these goals will not only reduce carbon emissions but also foster economic growth, positioning Indonesia as a leader in renewable energy and climate solutions in Southeast Asia.
Source: hijau.bisnis.com, tempo.co
Images: Getty Images
The post Indonesia’s Renewable Energy Investment Plans at COP29 appeared first on Invest Indonesia.
