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Businesses should jump to invest in coal, Bahlil says
The energy minister is touting coal as a renewed investment opportunity with solid potential, alleging that Trump's announcement on US withdrawal from the Paris Agreement had triggered a global about-turn in clean energy efforts.
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Coal barges transport the commodity on Aug. 16, 2022, near a coal terminal in Samarinda, East Kalimantan. (AFP/Adek Berry)
E
nergy and Mineral Resources Minister Bahlil Lahadalia is encouraging investments in the country’s coal industry, highlighting solid prospects despite the global energy transition.
As one of the largest coal producers in the world, the government recognized opportunities to optimize its resources while maintaining its efforts toward climate and environmental resilience, he said.
“Coal players [companies], rest assured, please invest [in Indonesian coal]. It’s OK, it’s still good. Even Europe is still asking for a 20-year contract with Indonesia for coal exports,” Bahlil said in his speech on Wednesday at the Mandiri Investment Forum in Jakarta.
Emphasizing the continued profitability of the commodity, the energy minister nonetheless noted that some adjustments should be made to reduce emissions from coal-fired power plants.
“I want coal-fired power plants to use carbon capture technology to provide us with affordable energy with low carbon emissions,” Bahlil told the forum, adding that coal plants fitted with carbon capture and storage (CCS) technology could be a “cheaper option for the energy transition”.
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Experts have stated the opposite, however, arguing that CCS adoption would be challenging in Indonesia, given the technology was still new and costly.
