In this article, you will get all the information regarding Indonesia Signs Green Energy Agreement with Developed Countries at G20 Summit –

KUALA LUMPUR, Oct. 19 — Indonesia is on track to secure clean energy partnerships with developed nations as it hosts the G20 summit in November, reducing its reliance on coal-fired power, making it greener and fairer. energy analysts say they are getting international funding to implement the transition. .

The multi-billion dollar deal will help Indonesia phase out coal power plants early and invest more in renewable energy with the backing of wealthy countries, development banks, private banks and philanthropists. Expected.

Faby Tsumiwa, director of the Indonesia-based Institute for Innovation in Essential Services, an energy and environmental think tank, said the deal will take place on November 15-16 in Bali, where the leaders of the world’s top 20 economies will gather. said to be announced.

It could be a “big win for the president” of Indonesia’s Joko Widodo, while setting an example for other G20 countries and coal producers such as India and China that plan to transition to cleaner energy. he added.

At last year’s COP26 climate summit, the US, UK, France, Germany and the European Union proposed a US$8.5 billion package to help South Africa achieve a “just energy transition” away from coal, but opinion progress has been slowed by discrepancies in About the types of funds and how they are deployed.

Besides Indonesia, countries such as Vietnam, India and Senegal are in talks about similar partnerships.

Under the Paris Agreement to tackle global warming, Indonesia, the world’s eighth-largest carbon polluter, has pledged to reduce emissions by about 32% compared to normal levels by 2030. , hopes to reach net zero by 2060.

However, nearly 85% of the Southeast Asian archipelago’s electricity is generated from fossil fuels, and coal-fired power plants supply about 60% of Indonesia’s electricity demand.

Replacing coal-fired power with renewable energy will be costly for Indonesia, a developing country with limited resources and still recovering from the economic impact of the Covid-19 pandemic.

The principles of the Clean Energy Transition Agreement are expected to be announced next month, but details of its scope and an investment plan outlining how the green shift will be financed are likely to be announced in 2023, Tumiwa said. said.

The best renewable energy sources for Indonesia are solar, hydro and geothermal, he added.

But switching to them will require about US$135 billion in funding by 2030, and the success of the transition agreement will depend on commitments by wealthy Western countries, he said.

“The[Indonesian]government wants to increase renewable energy to reach 40% of the electricity sector by 2030, and that will require massive investments,” said Tsumiwa of the Thomson Reuters Foundation. told to

The Renewable Energy Act was long awaited

Indonesia, the world’s largest exporter of thermal coal, aims to increase the share of renewable energy in its energy mix to 23% by 2025, but has so far fallen short of around 12%. .

World Resources Institute Indonesia energy expert Clorinda Wibowo said Jakarta will release a list of coal-fired power plants to be retired at the G20 summit and plans to promote greener energy use in all industries. said it was likely.

The renewable energy law is still being finalized and energy transition agreements with donors are still under discussion at ministerial level, meaning details on implementation may be lacking, Wibowo said. .

Aloysius Joko Purwanto, an energy economist at the Institute of ASEAN and East Asia Economic Studies in Jakarta, said the first version of the agreement would specify the total amount, including decommissioning of coal-fired power plants, investment in renewable energy and modernization. He said he would likely outline the main pillars of Power grid.

“Public acceptance would be low if the funds were given as loans or debt,” he added, calling for consultations with public bodies and civil society groups on the development of deals.

From forest to power

Alessandro Gazzini, partner at Jakarta-based management consultancy Kearny, said that Indonesia’s forestry sector accounts for 55% of total global warming emissions, while electricity accounts for about 35%. says.

However, after making headway in tackling deforestation in recent years, the government “realized that the next step on Indonesia’s net-zero path would require consolidating its power sector,” he said.

Indonesia is home to the world’s third largest rainforest, but is also the largest producer of palm oil and a major source of timber.

Since 2015, we have stepped up our efforts to tackle forest fires, banned new permits to divert primary forests and carbon-rich peatlands to other uses, and temporarily suspended new permits for palm plantations to reduce damage. established an agency to restore peat and mangroves. .

Gazzini said cleaning up the power sector will also be a big challenge, with new coal-fired power plants and pipelines of more than 20 strong mining companies that will bring significant revenues to the government.

Retiring coal power plants early and increasing renewables to net zero by 2060 would require more than $2 trillion, he estimated, and a transition pact at the G20 summit It added that the commitments made under the GDPR are likely to add up to less than $7. a billion.

Unlike Vietnam, India and China, Indonesia has done little to accelerate investment in renewable energy. That means Jakarta may need to make reforms to enable the transition to green energy.

He said this could include the creation of an independent regulatory power agency and the spin-off of grid management from operators across the country.

“It will be difficult to achieve this within the constraints of the current system,” he added. — Thomson Reuters Foundation

The post Indonesia Signs Green Energy Agreement with Developed Countries at G20 Summit appeared first on .

Indonesia Signs Green Energy Agreement with Developed Countries at G20 Summit –

For more visit

Latest News by