By setting an ambitious goal to turn out to be carbon neutral by 2060, Indonesia offers global investors attractive investment opportunities, particularly within the renewable energy sector. At the COP29 summit in Baku, Azerbaijan, the Indonesian government officially announced plans to open up investment opportunities of as much as 75 gigawatts in the following 15 years.
This commitment, presented by the Special Presidential Envoy to the COP29 Summit, Hashim Djojohadikusumo, reflects the vision of the newly inaugurated President of Indonesia, Prabowo Subianto.
Speaking in Baku, Hashim outlined Indonesia’s ambitious plan to extend its energy capability to 100 gigawatts over the following 15 years. Of this extra capability, 75 gigawatts will come from renewable sources, including solar, hydro, geothermal and nuclear.
Indonesia currently has over 90 gigawatts of installed capability, with coal still dominating and lower than 15 percent coming from renewable sources. To support the event of renewable energy, the state-owned energy company PLN is designing an environmentally friendly 70,000 km long transmission network.
Hashim also emphasized the federal government’s full support for state-owned enterprises (SOEs) in accelerating the energy transition.
In line with national energy transformation goals, PT Pertamina (Persero) is committed to sustainable business development, specializing in low-carbon energy.
At the Conference of the Parties (COP29), Pertamina New and Renewable Energy (PNRE) presented its carbon business development strategy. PNRE president-director John Anis outlined the corporate’s two important approaches to carbon trading: developing technology-based solutions, reminiscent of renewable energy, and implementing environmental projects, including mangrove restoration. Thanks to its wealthy natural resources, Indonesia has the potential to turn out to be a significant player in the worldwide carbon emissions market.
Anis is confident that the corporate will find a way to pursue significant business opportunities in the long run, given Indonesia’s natural resource potential and growing global demand for carbon credits.
