The Indonesian Ministry of Energy and Mineral Resources recently stated that the Indonesian renewable energy industry is expected to achieve an investment target of US$3.91 billion in 2022. The latest statistics show that Indonesia's renewable energy industry investment in 2021 will reach 1.51 billion US dollars.
Indonesia will fully tap existing resources, build hydropower, geothermal and solar power projects, and plans to increase the proportion of renewable energy to 23% by 2025. Indonesia's parliament recently proposed a draft legislation that plans to provide more subsidies for renewable energy projects, aiming to ensure the country's stable power supply while achieving the goal of fully relying on renewable energy for power supply by 2060.
As a major producer and exporter of coal in the world, Indonesia has a large installed capacity of coal-fired power, which currently contributes nearly half of the country's energy supply, and renewable energy, mainly geothermal energy and hydropower, only contributes about 10%. Indonesian President Joko Widodo has repeatedly stated that the government will vigorously support the development of the renewable energy industry, speed up the elimination of old coal-fired power stations, encourage investment in the construction of more renewable energy power stations, and actively promote the use of clean coal technology to minimize Greenhouse gas production.
