Jakarta (ANTARA) - Indonesia will need US$1.108 billion in investment to support the achievement of net-zero emissions (NZE) by 2060, particularly for the addition of new and renewable energy-based (EBT) plants, the government has projected.

The figure comprises power plant development worth US$944.6 billion and transmission network development worth US$113.4 billion, Director of Various New and Renewable Energy at the Directorate General of New Renewable Energy of the Energy and Mineral Resources Ministry Andriah Feby Misna informed.

"The investment requirement for 2060 for power plants alone is at US$944.6 billion, transmission US$113.4 billion. The total is US$1.108 billion until 2060; or an average of US$28.5 billion per year of investment is needed to support efforts to increase NRE (new, renewable energy)," Misna said at a webinar on “Green Investment Potential and Attractive Incentive Design,” which was accessed from here on Tuesday.

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The government has continued to pursue efforts to increase the contribution of NRE in the energy mix, which is targeted to reach 23 percent by 2025, she added.

One strategy to achieve this is the Electricity Supply Business Plan under which 51.6 percent of additional capacity will come from NRE until 2030.

"There will be approximately 20.9 GW (gigawatt) of NRE development in 2030," she said.

This would also be in accordance with the government's target of fulfilling the nationally determined contributions (NDCs) to cut emissions by 29 percent by 2030, she added.

The target is part of Indonesia's goal to achieve net-zero emissions by 2060.

"Of course, we need a large enough investment to be able to support NZE programs," Misna remarked.

The government is targeting to add 708 GW of EBT plants by 2060, of which 96 percent will operate on renewable energy and the remaining 4 percent on new energy.

"(For) renewable energy, we will develop everything we have, be it solar energy, wind, hydro, bioenergy, marine, geothermal, we will also push hydrogen and batteries. New energy is like nuclear; (we) will also try for this to support our efforts towards NZE," she added.

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Translator: Ade Irma J, Mecca Yumna
Editor: Rahmad Nasution
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