Indonesia expands investment in renewable energy industry

The Ministry of energy and mineral resources of Indonesia recently said that Indonesia's renewable energy industry is expected to achieve an investment target of $3.91 billion in 2022. The latest statistics show that Indonesia's investment in renewable energy industry reached US $1.51 billion in 2021.
Ariphan tasrif, Minister of energy and mineral resources of Indonesia, said that Indonesia will fully tap existing resources and build hydropower, geothermal and solar power projects, and plans to increase the proportion of renewable energy to 23% by 2025. The Indonesian parliament recently proposed a draft legislation, which plans to provide more subsidies for renewable energy projects, aiming to ensure the country's stable power supply and achieve the goal of completely 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 and electricity, which currently contributes nearly half of the country's energy supply, while renewable energy, mainly geothermal energy and hydropower, accounts for only about 10%. Indonesian President Joko has repeatedly said that the government will vigorously support the development of 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.