Government Asks for World's Help to Accelerate Coal-Fired Power Plant Shutdown

Coordinating Minister for Maritime Affairs and Investment, Luhut Pandjaitan, on Monday (9/9) revealed that the government is asking for support from world leaders to negotiate with lenders, to accelerate the cessation of coal-fired power plants and gain access to energy transition funds. The government needs $94.6 billion or around Rp1.46 quadrillion in funding by 2030 to build clean power generation and transmission infrastructure to reduce dependence on coal energy, Luhut Pandjaitan told participants at the Coaltrans Asia industry conference in Bali. Luhut said that the government asked investors to provide lower interest rates in the early closure scheme for coal-fired power plants. “The interest on the financing has to be attractive. You know, if they are giving commercial interest, what's the point?” he said. The government has secured a funding commitment of $20 billion or around Rp. 308 trillion under the Just Energy Transition Partnership scheme (Just Energy Transision Partnership/JETP) led by the Group of Seven countries, although disbursements so far have been small. The government is currently negotiating with the Asian Development Bank or ADB to retire the Cirebon-1 PLTU in West Java, with a capacity of 660 MW. The government is also considering shutting down part of the …

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Government Asks for World's Help to Accelerate Coal-Fired Power Plant Shutdown

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