Indonesia will require $172 billion renewables investment to add 60 GW power capacity

Indonesian state utility company Perusahaan Listrik Negara (PLN) will require up to $172 billion in investment for renewable energy projects and grid upgrades to add 60 gigawatts (GW) of new renewable power capacity. PLN aims to build 32 GW of new renewable power capacity as a base load and construct new grids to connect an additional 28 GW of renewable power as variable load.

PLN Director Evy Haryadi announced this ambitious plan during an industry forum. He did not provide specific details on the investment amounts needed for renewable power generation, but he did mention that the $172 billion investment until 2040 would also include $5 billion for a smart grid. This smart grid investment is crucial to enable greater integration of variable renewable energy sources like solar and wind power into Indonesia’s electricity system.

Haryadi emphasized the importance of grid development, stating, “There is no transition without transmission.” He highlighted the challenge of transmitting power from remote locations to meet demand.

This initiative aligns with Indonesia’s commitment to reduce its reliance on coal-fired power plants, which currently constitute the majority of the country’s power generation.

As part of its efforts to combat climate change, Indonesia has pledged to achieve net-zero emissions by 2060. Expanding renewable energy capacity and improving the electricity grid are critical steps toward achieving this goal.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

UK looking for private investment in Sizewell C nuclear project

The Sizewell C nuclear power project in the United Kingdom has gained significant backing from the British government, marking a pivotal moment in the endeavor. The government has pledged substantial support amounting to approximately £700 million ($895 million) and expressed its commitment by taking on a 50% stake during the project’s critical development phase.

Saudi Aramco planning to sell $50 billion worth of shares by the end of 2023

Saudi Aramco is reportedly considering a secondary share offering on the Riyadh bourse, aiming to sell a stake worth as much as $50 billion, according to reports. The sale could potentially occur before the end of this year, as Aramco has reportedly been in discussions with advisers and sounding out potential investors, including other multinational oil companies and sovereign-wealth funds. This move comes as Saudi Arabia decided to host any new Aramco offering on the Riyadh exchange, aiming to avoid legal risks tied to an international listing. Saudi Aramco has yet to comment on these reports.

British PM Sunak unveils easing of net zero targets

On Wednesday, Prime Minister Rishi Sunak unveiled a modified plan to address climate change in the UK, reflecting a strategic shift aimed at retaining public support while still meeting long-term climate goals. The plan maintains the target of achieving net-zero carbon emissions by 2050 but allows for a slower transition.

Stay informed

error: Content is protected !!