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RI delays launch of JETP investment plan for public review
Though the JETP Secretariat has delayed its launch of the key CIPP blueprint that was expected on Wednesday, an expert says the move will provide more time to develop a more comprehensive plan for accessing the funds and getting the scheme underway.
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President Joko “Jokowi” Widodo (right) and United States President Joe Biden walk the red carpet at The Apurva Kempinski Bali hotel in Nusa Dua on Nov. 14, 2022, during the Group of 20 (G20) Bali Summit. (Bureau of Press, Media, and Information of Presidential Secretariat/Laily Rachev)
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he Just Energy Transition Partnership (JETP) Secretariat, tasked with overseeing the implementation of Indonesia’s US$20 billion JETP, has pushed back the launch of its much-anticipated investment plan to “later this year”.
A statement from the office released on Wednesday cites a need for more time to devise “a technically credible pathway for Indonesia’s power sector transition” as a reason for the delay,
The final Comprehensive Investment and Policy Plan (CIPP), which underpins the landmark climate financing deal signed at the Group of 20 Bali Summit last year, was expected to be unveiled on Wednesday.
The CIPP is a blueprint containing a list of projects to be funded under the JETP, and is key for Indonesia to access the scheme’s loans, which are to be made available over a period of three to five years.
Delaying its launch, according to Energy and Mineral Resources Ministry Secretary-General Dadan Kusdiana, would also allow for a period of robust public consultation before the CIPP was finalized.
“The Indonesian public will have the opportunity to review the full draft of the CIPP and submit comments and feedback,” Dadan said in the statement.
The JETP for Indonesia’s energy transition, which has been over a year in the making, includes $10 billion in pledges consisting of grants and concessional loans from multilateral development banks as well as the International Partners Group (IPG), coled by the United States and Japan.
