Indonesian Govt Optimistic Policy Plan for JETP Finalized in October

TEMPO.CO, Jakarta - Coordinating Ministry for Maritime and Investment Affairs reported the progress for the energy transition financing through the Just Energy Transition Partnership (JETP). Deputy Coordination of Infrastructure and Transportation of the Ministry Rachmat Kaimuddin stated on Tuesday that the comprehensive investment and policy plan will be finalized this upcoming October.

The JETP agreement was discussed at the G20 Summit in Bali in November 2022. The initial budget agreed during the summit was US$20 billion. Later, JETP decided to add the budget to US$21.7 billion. 

The energy transition budget has yet to be distributed. Rachmat said he already met with JETP in New York. He also mentioned that the need for Indonesia's energy transition budget has surpassed US$21.7 billion.

"But it's ok, just move forward. Talking and planning will not reduce emissions," he said.

Previously, the Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan stated that the government has prepared various programs financed through the JETP budget. He said the ministry has kick-started the preparation for halting the operation of coal-fired power plants and development of new renewable energy plants.

"Indonesia has prepared for the programs amounting to US$20 billion. Now, we're still awaiting the budget [from JETP]," he remarked.

RIANI SANUSI PUTRI

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