Less than a year after it was announced, a $20 billion bet to wean Indonesia off coal is mired in controversies over financing and the construction of new plants to power industry.
The Just Energy Transition Partnership for Indonesia was unveiled last November, as the country hosted the G20 summit in Bali.
Indonesia's JETP assumes the power sector was on track to emit 357 million tons of carbon by 2030, and will now limit that to a peak of 290 million tons. So,"the question arises: can the target of 290 million tons still be achieved," asked Fabby Tumiwa, executive director of the Institute for Essential Services Reform , an Indonesian energy think tank.The JETP secretariat did not respond to a request for comment.Jakarta is reportedly also unhappy about the deal's proposed mix of financing, worried it will be offered mostly market-rate loans that saddle it with debt.
But estimates for the cost of achieving Indonesia's pledged goals are upwards of $100 billion, Tumiwa said, and that figure could be higher given the emissions miscalculation.Indonesia, which generates over 60 percent of its power from coal, has many morethan South Africa—one of the world's largest emitters of greenhouse gases, and they are much younger.
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