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French investors' appetite for Indonesia’s energy sector remains high amid pandemic
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Renewable energy progress in Indonesia to date has been underwhelming and the policy and regulations remain uncertain. (Shutterstock/File)
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ilateral cooperation between Indonesia and France remains strong amid the COVID-19 pandemic. The two countries will finalize several bilateral cooperations in the energy sector, Indonesian Ambassador to France Arrmanatha Nasir says.
Arrmanatha said in a statement on Wednesday that the embassy with the French Business Confederation (MEDEF) had held an investor gathering for the energy sector in Indonesia on Tuesday. Sixty French companies participated in the virtual forum, at which Energy and Mineral Resources Minister Arifin Tasrif was the guest speaker.
"Potential French energy investors showed their interest in Indonesia’s energy sector potential. In the question and answer session, prospective French investors questioned the minister about many things, especially Indonesia's future plans in renewable energy,” he said.
They also discussed the B40 national biofuel production program, divestment plans in the energy sector, emission reduction commitments, the Mining Law amendment and its impact, and the ease of doing business in the energy sector.
Arrmanatha asserted that Indonesia had a strong commitment to move toward a clean and sustainable energy system as reflected in the country’s General National Energy Plan (RUEN).
Read also: Geologic time: Indonesia’s geothermal dreams deferred for 5 years
Indonesia is also one of the countries with the largest gas and geothermal reserves in the world, as well as other energy sources such as wind, ocean waves, solar heat and biomass.
"Another important thing is our political stability and the government's commitment to create a conducive investment climate and increase the ease of doing business.”
In his Tuesday presentation, Minister Arifin conveyed the opportunities and challenges of energy development, especially renewable energy in Indonesia.
The minister said the COVID-19 pandemic had caused a decline in global demand for oil and gas, which in turn made it harder for the country to achieve its target of a new and renewable energy mix.
On the other hand, the pandemic had presented an opportunity for the country to start implementing low-carbon development and reducing greenhouse gas emissions, he added.
