MEMR seeks FSA?s help to boost financing in renewable energy
Thursday, February 4 2016 - 02:41 AM WIB
The Ministry of Energy and Mineral Resources signed on Wednesday an MoUs with the Financial Services Authority (FSA) to help encourage local financial institutions to invest in new and renewable energy projects.
The ministry said in a statement that the government plans to increase the contribution of new and renewable energy in the country?s energy mix to 23 percent by 2025 from the current 6.8 percent.
However, the government has limited funding capacity, allocating only around Rp 2 trillion in the state budget every year for such projects. To help achieve the 2025 target, around Rp 1,300 trillion ? Rp 1,600 trillion funds are needed.
Editing by Reiner Simanjuntak