Southeast Asia’s Biggest Economy Needs $37 Billion to Shut Coal-Fired Plants
- Indonesia could phase down from coal plants earlier by 2040
- Early retirement of 118 coal plants will save 1.7G tons of CO2
Coal is loaded onto a barge in Kutai Kartanegara, East Kalimantan, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia may only need $37 billion to shut down its coal-fired power plants, even if the bill doesn’t include building renewable energy to take their place.
That $37 billion worth of financing would be enough to buy out future revenues of 118 existing coal plants and up to 10 years of contracted coal power generation, meaning Southeast Asia’s largest economy could wean off the fuel by 2040, climate analytics company TransitionZero said in a report. That’s a decade earlier than the official target.