The government of Indonesia announced that a portion of the initial pledge of $20 billion from the Just Energy Transition Partnership (JETP), specifically $3.1 billion, has been made available to aid in the advancement of multiple clean energy initiatives within Indonesia. Additionally, around $5.5 billion is presently being discussed for prospective projects.
"Of the US$20 billion, US$3.1 billion has been mobilized under the JETP scheme, and another US$5.5 billion is under negotiation for concrete projects," Coordinating Minister for Economic Affairs Airlangga Hartarto says.
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He stated that multiple key projects have been incorporated into the JETP list, encompassing both fully prepared ones and those still pending funding approval.
Hartarto proceeded to present a number of initiatives that are poised to advance with the backing of JETP financing.
These include the development of the Saguling Floating Solar Power Plant, the Muara Laboh Geothermal Power Plant, the Legok Nangka Waste-to-Energy Plant, enhancement of the transmission network in the Sulawesi corridor, the establishment of the Wind Power Plant in South Sumatra, and the implementation of the de-dieselization program.
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The financial support provided by JETP to Indonesia has recently been raised from $20 billion to $21.4 billion. It is composed of $11 billion from the International Partners Group (IPG) and $10 billion from the Glasgow Financial Alliance for Net Zero (GFANZ), as elaborated by the speaker.
The government has established the Energy Transition and Green Economy Task Force (Satgas TEH) as a measure to expedite the advancement of clean energy.
This task force aims to accelerate the implementation of the JETP, including JETP 2.0, to effectively utilize the allocated funds to achieve Indonesia's National Development Planning (NDC) targets.
The Joint Energy Transition Partnership (JETP) is a financial pledge established to assist with Indonesia's shift towards sustainable energy, which was ratified during the G20 Summit held in Bali in November 2022. This initiative signifies a cooperative effort between Indonesia and industrialized nations within the International Partners Group (IPG).
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After the US' decision to withdraw, the International Planning Group is now overseen by Germany and Japan, with its membership composed of Denmark, the United Kingdom, Italy, Canada, Norway, France, and the European Union.
Hartarto underscored that the withdrawal of the United States would not have a significant impact on the advancement of the partnership, since JETP funding is intended to be mutually advantageous and not reliant on any single country.