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Indonesia to launch pilot coal plant early retirement project before COP28
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Finance Minister Sri Mulyani Indrawati (center) attends the launch of the Asian Development Bank (ADB) Energy Transition Mechanism (ETM) partnership on Nov. 3 in Glasgow, Scotland. (ADB/ADB)
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ndonesia is expected to conclude negotiations on a pilot coal-fired power plant retirement program before the United Nations’ COP28 climate conference in Dubai, United Arab Emirates, according to the Energy and Mineral Resources Ministry.
The ministry’s secretary general, Dadan Kusdiana, did not specify which power plant belongs to the transaction, but he said that President Joko “Jokowi” Widodo is expecting the country to launch one before the end of this year.
“The ministry is overseeing the process to ensure that at COP28 we [the energy ministry], as mandated by the President, could launch the pilot project to retire coal-fired power plants earlier,” he said on Friday.
“It’s not that we will shut down the coal-fired plant this year. This is a transaction, a commercial process, which means there is buying and selling [of assets].”
Read also: Coal shutdown scheme to launch first project in Indonesia 'soon': ADB
Currently, Indonesia has two ongoing negotiations on early coal-fired power plant retirement projects, both located in West Java.
One of them is the Cirebon 1 coal plant, which many expect to be the first to undergo the early retirement program under the Energy Transition Mechanism (ETM), a financing platform backed by the Asian Development Bank (ADB) that is aimed at financing the coal-fired power plant retirements and other energy-transition projects in the country.
