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Nine new renewable energy projects totaling Rp 51 trillion have faced financing dry up as international lender’s unwillingness to meet government local content requirements (LCR), state-owned electricity firm PLN said on 26.

Indonesian President Joko Widodo launched the eco-friendly public transportation project on Dec. 21 in the new capital of Nusantara (IKN), East Kalimantan, in collaboration with Blue Bird, the largest taxi service company in the country.

The rapid advancements in green energy contribute to reducing electricity costs. In Indonesia, solar photovoltaic prices are even approaching those of coal-fired power generation.

Indonesia is about to see the lowest investment realization in renewable energy projects in six years, despite the country’s aim to decarbonize its electricity sector, which experts suggest it is partly because of a lack of discussion to tackle barriers.

Indonesia's state power firm Perusahaan Listrik Negara (PLN) said it had signed 14 agreements with various institutions during the COP28 climate summit to transition to cleaner energy.

Indonesia officially launched its first Carbon Capture and Storage (CCS) project at the end of November. However, experts believe that Indonesia faces significant risks in becoming a hub for carbon storage.

After IDX Carbon launch, Indonesia's trading volume briefly outpaced Japan and Malaysia. However, a British media found little activity over the past 2 months, contrasting the earlier surge.

Indonesian state-owned electricity company, the PLN, has cooperated with five leading international energy corporations for the development t of a green ecosystem in Indonesia.

The largest floating solar farm is Southeast Asia is put into use in West Java on Thursday. President of Indonesia Joko Widodo was at the ceremony and said, “today is a historical day.”

Indonesia’s abundant geothermal resources have attracted Iceland’s attention, as the geothermal power pioneer seeks to partner with the Southeast Asian nation to harness its huge untapped geothermal potential.