Indonesia Unveils Ambitious 100 Gigawatt Renewable Energy Plan at COP29

Baku, The Gulf Observer: At the 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, the Indonesian government has launched a significant program aimed at developing 100 gigawatts of renewable energy by 2040. The initiative, which will involve an investment of US$235 billion over the next 15 years, was announced by Hashim S. Djojohadikusumo, head of the Indonesian delegation to COP29.

Speaking at the conference, Djojohadikusumo outlined that 75 percent of the additional electricity capacity would come from new and renewable sources, including geothermal, hydropower, and nuclear energy. He highlighted plans to construct a nuclear power center as part of the comprehensive energy development strategy.

“This is a very large and ambitious program. Over the next 15 years, we will be building significant new capacity to meet Indonesia’s growing energy needs,” Djojohadikusumo said.

In addition to renewable energy development, Indonesia is focusing on carbon capture and storage (CCS) programs. Djojohadikusumo revealed that many multinational companies have already expressed interest in investing in carbon storage, a key aspect of Indonesia’s broader environmental strategy.

He also emphasized the role of private-sector participation in financing the program, noting that while state funds are limited, Indonesia’s potential for carbon storage offers opportunities for international collaboration. With carbon storage capabilities estimated at 500 gigatons, Indonesia has the potential to become a global leader in this area.

“The underground layers in Indonesia can accommodate carbon at an unprecedented scale, providing opportunities for foreign partnerships to further these efforts,” he added.