Need A Cost Up To 1 US Dollar Trillion In 2060, Minister Of Energy And Mineral Resources Invites Partners To Collaborate In Financing Energy Transition

Minister of Energy and Mineral Resources Arifin Tasrif. (Photo: Doc. Ministry of Energy and Mineral Resources)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif invited business partners and financial institutions to collaborate to help finance the energy transition in Indonesia to achieve Net Zero Emission by 2060. "We invite investors, financing institutions, industry, and policymakers to increase collaboration to support the energy transition to achieve Net Zero Emission by 2060," said Arifin Tasrif in a written statement, Friday, October 14. Just so you know, Indonesia needs up to 1 trillion US dollars in 2060 for renewable energy investment. And the need for energy transition financing will increase along with the early retirement of coal power plants that require large costs due to the obligation to repay loans and interest on developers. "Financing for the energy transition is increasing because we will implement early retirement of coal-fired power plants that require large costs to repay loans and interest to developers," continued Arifin. In addition, the government is also preparing social protection measures in the context of the industrial transition from stopping coal power plants to EBT, one of which is by providing training for workers affected in order to prepare for the transition from the mining industry to renewable energy. "We also need additional funds to provide training to mining sector workers in order to switch to clean and renewable energy," Arifin concluded. For information, Indonesia has set a Road Map for Energy Transition to achieve Net Zero Emission by 2060. This roadmap aims to achieve more than 700 GW of Renewable Energy in the energy mix derived from the sun, hydro, geothermal, and hydrogen and nuclear.