Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Facebook Twitter Instagram
India Edition | Middle East Edition
Facebook Twitter LinkedIn
Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Renewable Energy StoriesRenewable Energy Stories
Home » Indonesia Concludes Agreements to Quicken Switch to Sustainable Energy
Other Renewables

Indonesia Concludes Agreements to Quicken Switch to Sustainable Energy

Saur News BureauBy Saur News BureauNovember 16, 2022Updated:November 16, 2022No Comments
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Indonesia recently inked agreements with significant countries and international lenders on the sidelines of G20. The deal will pave the way for billions of dollars as finance to support the country’s increased use of renewable energy and decreased reliance on coal.

On the eve of the Group of 20 meeting in Bali, Indonesia, the $20 billion deal was revealed. It is intended to assist developing nations in lessening their reliance on fossil fuels like coal and gas that produce carbon emissions that contribute to climate change. This program is known as the Just Energy Transition Partnership or JETP.

This agreement is a significant step for Indonesia, a significant coal exporter with a wealth of clean energy development possibilities.

Concessionary lending, grants, and equity of roughly $10 billion will be provided by participating countries, including those of the United States, Japan, Canada, Denmark, the European Union, France, Germany, Italy, Norway, and the United Kingdom. The remainder will be arranged, according to U.S. officials, by significant private international financial institutions that have previously committed to supporting climate investment.

Indonesia agreed to ensure that emissions from the nation’s power sector begin to decline by 2030 as part of the deal. The nation’s objective to eliminate all emissions from the electricity generation industry by 2050 has been signed up.

A JETP agreement was originally signed by South Africa at the COP26 climate summit in Glasgow the previous year. It demands that the Group of Seven’s main nations give the coal-rich nation $8.5 billion in grants and loans with favorable terms to assist it in reducing its reliance on fossil fuels.

U.S. officials claimed that the agreement with Indonesia had concrete, short timetables, will start shortly and will keep stakeholders informed in light of the lessons learned from the South Africa agreement.

The largest contract to date, which reflects the country’s huge reliance on coal, is with Indonesia. The third-largest coal producer in the world, Indonesia only has coal power facilities that are 12 or 13 years old on average. Such plants have a 45-year operational lifespan.

According to Swati D’Souza, an energy expert at the Institute for Energy, Economics, and Financial Analysis based in New Delhi, the initiative to create JETPs represents an awareness that developing countries are disproportionately facing the effects of climate change.

The negotiations with South Africa and Indonesia are being closely watched by other developing nations with coal-rich economies. Vietnam, Senegal, the Philippines, and India, the third-largest producer of greenhouse emissions in the world, are all thinking about joining similar agreements.

and Financial Analysis clean energy development coal power facilities Concludes Agreements Economics Energy India Indonesia Senegal Swati D'Souza the Philippines Vietnam
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Saur News Bureau
  • Website

Related Posts

Gas-Powered Power Growth May Hinder Vietnam’s Energy Transition

February 10, 2023

India signs MoU with Indonesia-Malaysia-Thailand Growth Triangle JBC

February 9, 2023

Singapore, Oman Discuss Cooperation on Renewable Energy

December 12, 2022

Leave A Reply Cancel Reply

four × 1 =

ADVERTISE WITH US

We are the no.1 B2B solar media in India. With SaurEnergy, you have a full menu of options to pick from to reach the largest audience for your products and services.

To get in touch, contact us at info[at]saurenergy.com

Or Call at 9891147599 / 8802315631

Facebook Twitter Instagram YouTube LinkedIn WhatsApp
Latest News
  • Chinese Battery Recycling Firm Jcnico Nets Over 100 Mn in Series B
  • Citizens Sue South Korean Govt for Backtracking on Renewable Energy Commitment
  • Singapore to Import Renewable Energy from Indonesia
  • GE to Introduce World’s Largest Offshore Wind Turbine in Japan
  • Vietnam to Develop Offshore Wind Power with Denmark’s Support
SAURENERGY NEWSLETTER

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

    © 2023 Saurenergy International.

    Type above and press Enter to search. Press Esc to cancel.

    en English
    af Afrikaansar Arabiczh-CN Chinese (Simplified)da Danishen Englishfi Finnishfr Frenchit Italian