Indonesia Aims for Two-Thirds Renewable Energy by 2050
Indonesia is stepping up its commitment to renewable energy, with a recent report from the International Renewable Energy Agency (IRENA) envisioning two-thirds of the country's energy coming from renewable sources by 2050. This ambitious goal is supported by a new legal framework for carbon capture, utilization, and storage (CCUS) in the oil and gas sector, finalized in March 2023. The minister of environment and forestry, Siti Nurbaya Bakar, has also reinforced the country's dedication to strengthening its climate change policies.
Indonesia's population is projected to grow to 335 million over the next three decades, which will escalate energy demands. Currently, coal is the primary source for cement production, with around 450 grams of coal used to produce approximately 900 grams of cement. However, Indonesia is benefiting from technology and investment partnerships with the USA and China, which are offering expertise in solar, wind, hydropower, and battery production. These partnerships are accelerating the country's transition to cleaner energy sources and could help Indonesia become a leader in green energy in Southeast Asia.
In a significant milestone, Indonesia secured a green financing agreement worth 1.2 billion euros with the German state development bank KfW at COP29 in Baku. This deal is a major step towards achieving the country's climate change goals. Additionally, the OPEC Fund is supporting Indonesia's energy transition through development financing for sustainable development and climate action, totaling over 1 billion US dollars. Indonesia's current renewable energy utilization rate is 2.3%, and the government aims to increase this to at least 31% by 2050, as guided by Government Regulation No. 79 of 2014.
Indonesia's commitment to renewable energy is evident in its legal framework, international partnerships, and ambitious goals. With a growing population and increasing energy demands, the country is taking significant steps to transition to cleaner energy sources and reduce its reliance on coal. These efforts are not only crucial for Indonesia's environment but also for its role as a leader in green energy in Southeast Asia.
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