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View all search resultsCanceled Cirebon-1 shutdown raises questions for JETP
The collapse of the deal to retire the Cirebon-1 coal-fired power plant early has left Indonesia’s landmark Just Energy Transition Partnership (JETP) searching for a new direction, with experts highlighting slow disbursement and a mismatch in funding priorities.
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A barge carrying coal is pictured on Oct. 31, 2023, at the dock next to the Suralaya coal-fired power plant in Cilegon, Banten. (AFP/Ronald Siagian)
T
he collapse of the deal to retire the Cirebon-1 coal-fired power plant early has left Indonesia’s landmark Just Energy Transition Partnership (JETP) searching for a new direction, with experts highlighting slow disbursement and a mismatch in funding priorities.
Fabby Tumiwa, the executive director of the Institute for Essential Services Reform (IESR), said JETP funding overall is still slow, with the first tranche of approved financing primarily allocated to pre-existing state utility (PLN) projects and some private rooftop solar initiatives.
The more transformative US$5.5-$6.2 billion for early coal retirement, solar power, geothermal and de-dieselization projects, on the other hand, remains in progress, delayed partly by the late issuance of PLN’s 2025-2034 electricity business plan (RUPTL), he added.
“The disbursement of JETP funding is still progressing too slowly,” Fabby told The Jakarta Post on Tuesday.
“Most of the [approved] projects are okay. As for the MRT project, I understand, it's for [transportation system] electrification. But the real goal here should be powering it with renewable electricity.”
According to the Progress Report the JETP Secretariat published on Oct. 24, JETP has approved $2.85 billion in financing as of September, consisting of five programs and four projects.
The approval process for another 22 loans and equity investments worth an estimated $5.5-$6.2 billion is in process, according to the same report.
