Vietnam Plus are reporting that Indonesia has secured a USD 2-billion investment commitment in the renewable energy sector at the Indonesian-Europe Business Forum (IEBF) held in Jakarta recently, according to the Ministry of Foreign Affairs.
The commitment is expected to fast-track Indonesia’s energy transition, the ministry said in a statement released on October 19.
Although the identity of the investor has not been disclosed, Indonesian senior diplomat Umar Hadi shared that the investment commitments are worth approximately fivefold of the transaction deals that IEBF and the INA-LAC, a business gathering that brought together Indonesian as well as Latin American and Caribbean firms, had recorded, say Vietnam Plus.
Government estimates showed that the accumulated total of business transactions and signed cooperation agreements topped USD 482-million.
Vietnam Plus say that one of them is a memorandum of understanding (MoU) on cooperation between Ecoener, a Spanish renewable energy developer and Dredolf, an Indonesian company specialising in operations and maintenance for power generation and electricity distribution.
According to Umar, major European investments seem to be heading to Indonesia. Last week, a European company announced a project to build a nickel refinery in this Southeast Asian country.
Source: Vietnam Plus