Indonesia Intensively Reels in Green Energy Investors

President Jokowi emphasizes the fact that a high cost is needed for the energy transition. Developing countries like Indonesia need the support of developed countries to obtain funding, without burdening their citizens.

Wibi Pangestu Pratama & Rahmad Fauzan

5 Jun 2023 - 18.15
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Indonesia Intensively Reels in Green Energy Investors

The government is actively exploring opportunities for green funding cooperation with several countries and international financial institutions to develop and enhance the use of renewable energy in Indonesia. Bisnis/Canva

Bisnis, JAKARTA — Bahlil Lahadalia, Minister of Investment and Head of the Indonesian Investment Coordinating Board, released a statement following a meeting with President Joko Widodo at the State Palace on Tuesday, May 31, 2023, explaining the investment plans for the green industrial estate in Bantaeng, South Sulawesi, and West Papua. 

The investment plan is related to the development of the electric vehicle (EV) battery ecosystem. "The investment is more or less $9 billion," said Bahlil. 

Investors from the UK and other European countries are involved in the development plan for the EV battery ecosystem. Several corporations are named, including Glencore from Switzerland, Envision from the UK, and Umicore from Belgium. EV battery production resulting from this project's development will later be utilized to fulfill domestic and foreign market needs.

"We will be exporting to Europe. Thanks to the UK's involvement, they can be our hub for Europe," said Bahlil. President Jokowi supports the investment plan and has even given instructions to expedite the investments by involving state-owned enterprises while adhering to laws and regulations.

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