Renewables accounted for less than 14 percent of the in country's energy mix last year, while coal contributed more than 40 percent.
he government plans to slash the share of coal-fired power generation in the country’s energy mix to just 33 percent, while increasing the contribution of renewables to 42 percent by the end of 2040.
Coordinating Economic Minister Airlangga Hartarto made the statement on the sidelines of the Group of 20 (G20) meeting in Rio de Janeiro, Brazil, on Wednesday, adding that the country was prepared to add 75 gigawatts of renewables and 70,000 kilometers of new transmission lines to realize the vision.
“To achieve this vision, Indonesia will need US$235 billion in investment,” Airlangga said in a statement on Wednesday.
Indonesia, home to the country’s fourth-biggest population, is one of world’s largest thermal coal exporters and carbon emitters.
That figure, if achieved, would mark a jump in the country’s energy transition, with Energy and Mineral Resources Ministry data showing that renewables accounted for less than 14 percent last year, while coal contributed more than 40 percent.
The rest of last year’s energy mix came from oil and gas, which accounted for over 30 percent and 16 percent, respectively.
Last week, President Prabowo Subianto said Indonesia was one of few countries that could meet its entire energy needs without relying on fossil fuels.
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