Indonesia has unveiled its Comprehensive Investment and Policy Plan (CIPP), which lays out a path for the country to secure US$20bn in funding under the Just Energy Transition Partnership (JETP), in order to reach carbon neutrality by 2050. According to the plan, Indonesia aims to cut carbon emissions to 250 MtCO2 for its on-grid power sector by 2030 and increase its share of renewable energy generation to 44% (against an initial objective of 290 MtCO2 and 34% by 2030). The CIPP however does not include so-called captive power plants, off-grid systems developed and managed by industries for their use.
The JETP partnership, a financing scheme of equity investments, grants and concessionary loans from the G7 members, multilateral banks and private lenders, was signed with Indonesia in 2022. The scheme is aimed at helping developing countries shift to cleaner energy in the power sector.
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