Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 29 September 2023, 10:00 HKT/SGT

Source: PT PLN (Persero)
AIIB, PT PLN and PT SMI Collaborate to Support Energy Transition in Indonesia

PT PLN (Persero), Asian Infrastructure Investment Bank (AIIB) and PT Sarana Multi Infrastruktur (PT SMI) signed partnership documents formalizing their commitment to work together towards achieving Indonesia's greenhouse gas reduction target. The agreement signed on the sidelines of the 2023 Annual Meeting in Sharm El Sheik, Egypt Tuesday, (26/9) to work together to reduce Indonesia's greenhouse gas (GHG) emissions. Minister of Finance Indonesia, Sri Mulyani remarked that holistic growth required energy supplies. Responding the need for renewable energy necessitates support and cooperation in providing adequate resources. 

Darmawan Prasodjo, President Director of PLN (middle) hands over a souvenir to Investment Operations Vice President of AIIB Urjit R. Patel, witnessed by Sri Mulyani, Ministry of Finance of Republic of Indonesia.
Darmawan Prasodjo, President Director of PLN (middle) hands over a souvenir to Investment Operations Vice President of AIIB Urjit R. Patel, witnessed by Sri Mulyani, Ministry of Finance of Republic of Indonesia.

"This is necessary for private sector participation in funding the climate agenda. This is a step that we are excited to share with you and AIIB in order to discover solutions. As a cleaner, greener, and leaner financial institution," Sri Mulyani said. 

President Director of PLN, Darmawan Prasodjo stated that collaboration and partnerships are critical to advancing Indonesia's energy transformation. As a result, PLN is going to keep maintaining the relationship with diverse stakeholders with the goal to realize the energy transition from conventional to new, renewable, and sustainable energy. 

"Of course, financial support is crucial for accelerating Indonesia's energy transition. This partnership is certain to reflect PLN's objective of boosting the share of renewable energy in Indonesia's energy mix," mentioned Darmawan. 

Darmawan stated that over the previous 3,5 years, PLN has transformed into a greener electricity provider based on new renewable energy (NRE). The corporation began by developing a greener Electric Power Supply Business Plan and cancelling as much as 13,3 Gigawatt (GW) of coal-based power plants from 2019 - 2028 electricity plan. Aside from that, PLN's entire commitment to the energy transition is continuing with the planning of the national power plan, which includes 51,6% of NRE power generation. 

PLN continues to innovate and do various breakthroughs to develop NRE up to 75% in 2040. "In addition, we are committed to executing the Net Zero Emissions target by the year 2060, PLN is now focusing not only on providing electricity but also on the environment," Darmawan explained.

According to AIIB President Jin Liqun, the goal of this partnership is to help Indonesia transition to sustainable development and solve climate change challenges. Jin Liqun believes that this collaboration will push Indonesia to become a leader in the region's energy transition from fossil-based to new renewable energy. 

"This is a crucial decade for climate change action. By collaborating with major energy players in Indonesia, AIIB intends to unlock and mobilize additional capital to increase access to environmentally friendly energy in Southeast Asia's largest economy," Jin Liqun said. 

He stated that the AIIB intends to provide long-term finance to assist the Indonesian government in implementing the transition to low-carbon energy. This funding is intended to supplement existing national and multinational efforts, such as the cooperation with JET-P, while pushing Indonesia to pursue a complete and integrated energy transition strategy.

Furthermore, following the signature of the partnership agreement, AIIB, PLN, and SMI will investigate potential for project preparation, knowledge exchange, capacity building, and technical assistance in the sphere of energy transition.

"By leveraging each other's technical expertise and financial resources, the three institutions are committed to accelerating the implementation of environmentally friendly energy technologies and contributing to a greener and more sustainable future for Indonesia and the rest of the world," Jin Liqun said.


Topic: Press release summary
Source: PT PLN (Persero)

Sectors: Environment, ESG, Alternative Energy
From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

PT PLN (Persero)
Oct 9, 2023 09:00 HKT/SGT
PT PLN receives 2 Asian Experience Awards 2023, for Customer Service Innovation, Digital Transformation
Sept 7, 2023 17:00 HKT/SGT
ASEAN AIPF Opened by President, PLN Presents Green Enabling Supergrid
Sept 4, 2023 22:15 HKT/SGT
PLN Signs Cooperation with TANESCO to Develop Electricity Ecosystem in Tanzania
May 23, 2023 21:00 HKT/SGT
PLN to Cooperate with CCCC, an EPC Company, Focusing on Development of Renewable Energy
May 12, 2023 01:00 HKT/SGT
PLN and Government of East Nusa Tenggara commit to ensuring the success of the ASEAN Summit
May 4, 2023 15:00 HKT/SGT
PLN, IEA Finalize JETP Toward Achieving Indonesia's Net Zero Goal
Apr 19, 2023 18:00 HKT/SGT
PLN Drives Global Collaboration for Green Technology in Support of the Indonesian Government Mission
Nov 14, 2022 12:00 HKT/SGT
Ahead of the G20 Summit, Coordinating Minister Luhut Officially Launch PLN's FSPP in Nusa Dua Bali
Nov 9, 2022 12:00 HKT/SGT
PLN has successfully reduced 32 million metric tons of carbon emission in 2022
Nov 8, 2022 13:00 HKT/SGT
COP 27 Egypt: PLN shares its biomass co-firing implementation in coal power plants
More news >>
 News Alerts
Copyright © 2023 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: