ASIATODAY.ID, JAKARTA – The Indonesian government and the Asian Development Bank (ADB) have agreed on a commitment to facilitate the implementation of Early Retirement of Steam Power Plants in Indonesia, which is carried out within the framework of the Energy Transition Mechanism (ETM).
This agreement was confirmed through the signing of a Memorandum of Understanding (MoU) regarding Alignment of Energy Transition Mechanisms between the Director General of Electricity of the Ministry of Energy and Mineral Resources, Jisman Hutajulu and the Director General and Group Chief Sector Group Ramesh Subramaniam, on the sidelines of the UNFCCC Dubai COP28, Tuesday, 5 December 2023.
The signing of the MoU was witnessed directly by the Indonesian Minister of Energy and Mineral Resources, Arifin Tasrif and ADB President Masatsugu Asakawa.
“This MoU is a milestone for ADB’s collaboration with ETM and support from various donors through the Just Energy Transition Partnership (JETP) which will start with the early retirement of Steam Power Plants,” said the Head of the Public Information Services and Cooperation Communications Bureau of the Ministry of Energy and Mineral Resources. , Agus Cahyono Adi, in Jakarta, quoted Wednesday, December 6 20223.
Agus further revealed that in general the MoU aims to support decarbonization initiatives in Indonesia in its steps towards Net Zero Emissions (NZE), especially with the main aim of ensuring early emission reductions and decommissioning or conversion of Steam Power Plants in Indonesia through regulatory ETM to provide space to increase generating capacity based on new and renewable energy.
ETM itself is an ADB financing program to accelerate the sustainable energy transition from fossil energy to clean energy, which is collaborated with national governments, private investors and philanthropists.
ETM is currently being implemented in five countries, namely, Indonesia, Vietnam, Philippines, Pakistan and Kazakhstan. The ADB ETM program in Indonesia is considered the most ambitious and progressive.
On a previous occasion, the Minister of Energy and Mineral Resources, Arifin Tasrif, explained that the government had prepared an early retirement plan for other Steam Power Plants with a total capacity of 4.8 gigawatts (GW) in 2030. Funding was carried out through JETP. (AT Network)
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