JAKARTA - Minister of Energy and Mineral Resources Arifin Tasrif said that Net Zero Emission (NZE) can only be achieved through technological advances, encouraging innovation, and constantly improving.
Arifin said, in the NZE Indonesia roadmap, more than 56 Giga Watt (GW) Battery Energy Storage System (BESS) and hundreds of millions of electric vehicles will operate in 2060.
"This opens up a very large and potential space for investment. It takes more than USD 40 billion for funding for this program," Arifin said on the 2023 World Economic Forum (WEF) agenda, Friday, January 20.
In terms of technological advances, Arifin gave an example, advanced technology is needed to develop new and renewable energy.
"For example, a storage technology system, which is growing rapidly in the power generation and transportation sector," said Arifin.
Another example is that solar PV technology can increase efficiency to produce larger energy outputs.
"We plan to build 420 GW solar PV which will be installed in 2060 with investment needs of no less than USD160 billion," said Arifin.
Arifin admitted that Indonesia's journey to achieve the NZE target will cost a lot.
"There is a very large investment fund, more than 1 trillion US dollars to 2060. The need for funds is getting bigger when coal power plants are stopped faster and replaced with EBT electricity," concluded Arifin.
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