Friday, June 14, 2024

President Joko Widodo reveals growing interest from investors in Indonesia’s hydropower projects

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President Joko ‘Jokowi’ Widodo announces increasing investor interest in renewable energy projects in Indonesia, particularly in hydropower. 

While many investors are queuing up, the President emphasizes a step-by-step approach, accepting projects one by one to ensure their successful completion. 

The development of hydropower projects is still in the assessment phase, and final agreements with investors are pending.

President Jokowi stated on November 9, 2023, that the development of hydropower projects is undergoing thorough evaluation. 

Agreements with potential investors are yet to reach the final stage. Therefore, he refrained from providing further details on the hydropower project plans.

Indonesia has set a target of 23% renewable energy in its energy mix by 2024. President Jokowi acknowledged the challenges posed by the COVID-19 pandemic in achieving this goal but expressed a continued commitment to pursuing the set targets.

Darmawan Prasodjo, the CEO of the state-owned utility PLN, received directives from President Widodo to expand hydropower capacity due to its significant potential. 

The President also emphasized the need for transmission lines capable of evacuating power from hydropower plants to economic centers.

Recently, President Jokowi inaugurated the Floating Solar Power Plant (PLTS) Cirata, located in Purwakarta, West Java, with a capacity of 192 megawatt peak (MWp). He highlighted that West Java already has a hydropower plant with a capacity of up to 1,000 MW, and the operation of the PLTS Cirata adds to the installed capacity of clean energy.

The construction of the PLTS Cirata involved collaboration with the United Arab Emirates’ energy company, Masdar. The UAE’s Minister of Foreign Trade, Thani bin Ahmed Al Zeyoudi, remarked that the inauguration of the PLTS Cirata is a concrete result of the collaboration between Indonesia and the UAE. He emphasized the UAE’s commitment to further investments, particularly in clean energy, supporting Indonesia’s goal of achieving Net Zero Emission by 2060.

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