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Indonesië: Just Energy Transition Partnership (JETP) - update
Op 2 november 2023 diende Indonesië zijn plannen in over hoe het 20 miljard dollar zal besteden aan de transitie naar schone energie. Het alomvattende investerings- en beleidsplan (CIPP) van Indonesië voor het partnerschap, stippelt een pad uit voor het Zuidoost-Aziatische land om in het kader van het programma 20 miljard dollar aan financiering binnen te halen.
Hierover publiceerden IESR & REUTERS dit artikel:
Indonesia’s Just Energy Transition Partnership (JETP) deal was announced last year and aims to use the funds over the next three to five years to accelerate the retirement of the nation’s coal plants and the development of renewable energy.
The partnership, a financing scheme of equity investments, grants and concessionary loans from Group of Seven (G7) members, multilateral banks and private lenders, is aimed at helping developing countries shift to cleaner energy in the power sector.
Summary
- $20 Billion pledged under Indonesia's JETP, the biggest of its kind
- About $153 Million identified as grant funding
- Indonesia aims for 2030 emission at 250 million tons under JETP
The CIPP released on Wednesday does not include so-called captive power plants, off-grid systems developed and managed by industries for their use. Captive coal power stations with 13.74 gigawatt (GW) of capacity are operating in the Southeast Asian archipelago and 20.48 GW are being planned. The recent surge is due to the expansion of the metal processing sector, according to a July report that the Asian Development Bank commissioned.
- The coal-fired power plants operated by industries are being excluded from the plan because authorities need more time to work out how to protect the nickel smelting sector, an official involved with the programme said earlier.
Whilst the finer details were not made public, the investment plan will be reviewed and revised further by Indonesia and its JETP partners before being made available for public review and comment, according to a statement from Indonesia’s JETP Secretariat.
Experts have warned that Indonesia’s JETP deal and energy transition face significant challenges including retiring a relatively new network of coal plants, securing enough financing for the transition and ensuring it is equitable for those who are likely to be impacted by the transition, such as the 250,000 people employed by the country’s coal industry.
The Indonesian government also plans to build new coal-fired power plants to power strategic infrastructure projects such as smelters, raising concern amongst stakeholders and environmental activists alike.
Local stakeholders have expressed concern over how the JETP funds will be provided via a mix of grants, concessional loans, market-rate loans, guarantees, and private investments. Indonesia’s JETP deal is anticipated to be comprised of some $10 billion in public sector pledges and another $10 billion from private lenders, coordinated by the Glasgow Financial Alliance for Net Zero, which includes Bank of America, Citi, Standard Chartered and other major banks.
While some US$20 billion is pledged through the JETP, the International Renewable Energy Agency estimates Indonesia would need US$163.5 billion for its renewable energy technology, grid expansion and storage needs through 2030.
Three other countries have thus far negotiated a JETP.
- G7 members have offered Vietnam 2% of its total $15.5 billion JETP financial package in grants, while the biggest chunk of its loans will carry market-determined interest rates, documents reviewed by Reuters showed.
- South Africa secured the inaugural JETP deal with a $8.5 billion financing pledge but the plan has drawn criticism from trade unions worried about job losses in its coal belt.
- In June, Senegal announced a JETP worth 2.5 billion euros under which it aims to increase its share of renewable energy in its installed capacity to 40% by 2030.
Experts have said ensuring the success of Indonesia's JETP is important not just because it is the biggest but also because it is a test of G7 commitment to work with developing nations. Indonesia has also turned to China for help to develop renewable energy.
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