Almost 18 months in, Indonesia’s plan to accelerate its transition to clean energy is faltering as little has been done to retire coal plants, amid calls for more financing and a scaling up of wind, solar, and geothermal.
Indonesia’s Joint Energy Transition Partnership, or JETP, was announced in November 2022, at the G20 summit of leading economies in Bali. It promised $20 billion in financial support, with pledges led by the United States and Japan, along with other high-income economies and the private sector to transition the world’s fourth most populous country away from coal.
JETPs are multilateral cooperation mechanisms that aim to provide coal-dependent economies public and private financing for the early retirement of coal-fired power plants and for the scaling up of cleaner alternatives. Besides Indonesia, JETPs have been announced for South Africa, Vietnam, and Senegal.