Indonesia has reached a new milestone in its journey to achieve net-zero carbon emissions by 2060. To achieve that, as stated in the country’s Nationally Determined Contribution (NDC), Indonesia has established the development of clean energy sources as a national policy directive, where collectively, these policies will eventually put the country on the path to decarbonization.
The Energy and Mineral Resources Ministry, through state utility firm PLN’s newest 10-year electricity procurement plan (RUPTL), has made new and renewable energy the priority energy source for new power plants to be built in the next 10 years. The 2021–2030 RUPTL, does not approve of any new coal-fired power plants (PLTU) and only allows the completion of plants that are already under construction or have reached their financial close. PLN plans to start replacing its coal-fired and gas-fired power plants with new and renewable energy (EBT) power plants in 2025. The 2021-2030 RUPTL opens up a huge opportunity for Indonesia’s future in harnessing renewable energy and it has appealed to foreign countries to invest in developing the sector.
At the same time, South Korea – the world’s 13th-largest greenhouse gas emitter with 1.38 percent of the world’s emissions – has committed to becoming carbon neutral by 2050. During the 26th United Nations Climate Change Conference (COP26) in Glasgow, Scotland, in November 2021, South Korea vowed to reduce its emissions rate by 40 percent from 2018 levels and agreed to adhere to the Global Methane Pledge to reduce methane emissions by 30 percent by 2030. South Korean President Moon Jae-in vowed to spend 8 trillion won (US$7.10 billion) on a Green New Deal to replace coal dependence with renewables.
President Moon has also taken steps to begin decommissioning coal power plants while focusing on the construction of coal plants and investing in promoting renewable energy. Moreover, South Korea pledged to implement a carbon neutrality law and collaborate with other countries such as Indonesia to develop and finance renewable energy projects. Therefore, there needs to be a platform to help connect South Korean renewable energy (RE) investors and financiers with the needs and opportunities in Indonesia’s renewable energy sector.
Based on the abovementioned commitments, Tenggara Strategics, again, in partnership with CSIS and the Indonesian Embassy in Seoul will host South Korea RE Invest Indonesia 2022 to maintain the momentum of high interests among RE investors from South Korea, update the investors on the latest development of Indonesia’s drive toward renewable energy and connect more RE investors and financiers from South Korea with project owners in Indonesia. A total of 224 participants from 104 institutions attended South Korea RE Invest Indonesia 2021.
South Korea RE Invest Indonesia is a multi-stakeholder platform established by Tenggara Strategics, in cooperation with the Centre for Strategic and International Studies (CSIS), to bring together the Indonesian Embassy in Seoul, the Energy and Mineral Resources Ministry, the Investment Coordinating Board (BKPM), PLN and energy companies from Indonesia and South Korea. This year’s forum includes a panel discussion on fossil fuel phase-out and RE investment opportunities in Indonesia, and two sessions on solar energy that South Korean companies have the edge to offer and growing renewable energies to identify areas of mutual interest to Indonesia and South Korea.
Ambassador of the Republic of Indonesia to the Republic of Korea
Coordinating Minister for Economic Affairs, the Republic of Indonesia
April 7, 2022
07:15 - 08:15 am (Jakarta time)
09:15 - 10:15 am (KST)
April 7, 2022
08:15 - 11:15 am (Jakarta time)
10:15 - 11:15 am (KST)
April 7, 2022
09:15 - 10:15 am (Jakarta time)
11:15 - 12:15 pm (KST)
Speakers and Moderators
Director General of New, Renewable Energy and Energy Conservation (EBTKE)
Investment Coordinating Board (BKPM) Deputy Chairman for Investment Planning
CEO of PT PLN
General Manager KOMIPO
Director Green Technology Partnership Initiative
Chairman of the Indonesian Geothermal Association
Director Asia Division III & Global PPP Unit, EDCF Operation Dept. 1, Korea Eximbank
CEO of Pertamina Geothermal Energy
Director of Mega Project and New and Renewable Energy
Chairman of the Indonesian Solar Energy Association (AESI)
CEO of Medco Power
Managing Director, Global Business Department KEPCO KDN
Executive director of CSIS
Executive Director Tenggara Strategics
CEO of Alva Energi
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