Indonesia's Energy Sector Gets $400M from Global Climate Funds | Asian Development Bank

Indonesia's Energy Sector Gets $400M from Global Climate Funds

News Release | 16 March 2010

MANILA, PHILIPPINES - Indonesia's geothermal power capacity is set to nearly double following the endorsement of a new climate investment fund plan. The $400 million plan, endorsed by the Trust Fund Committee of the Clean Technology Fund (CTF), will help transform Indonesia's use of renewable energy and ultimately support the government to meet its long-term goal of reducing greenhouse gas emissions by 26% in 2020.

The plan will use co-financing from the multilateral CTF to expand large-scale geothermal power plants and to accelerate initiatives to promote energy efficiency and renewable energy by creating risk-sharing facilities and addressing financing barriers to small- and medium-scale investments. Under the Indonesia plan, the CTF is slated to mobilize an additional $2.7 billion from a range of other sources.