Indonesia's senior minister overseeing mining, Luhut Pandjaitan, said on Monday the government is asking for help from global leaders to negotiate with lenders to accelerate coal power plant retirement and for access to energy transition financing.
Indonesia requires $94.6 billion by 2030 to develop clean power transmission and generation infrastructure to phase down coal power, he told participants of industry conference Coaltrans Asia in Bali.
The minister said the government had asked for lower rates from financiers for the early shutdown schemes.
"The interest on the finance needs to be attractive you know, if they give a commercial interest, what's the point?," he said.
Indonesia has secured a $20 billion funding pledge under the Just Energy Transition Partnership scheme led by the Group of Seven countries, although disbursement is so far only minimal.
Indonesia is currently negotiating an early shutdown for 660 MW Cirebon-1 power plant in West Java, with lenders led by Asian Development Bank.
The government is also looking into shutting down part of the capacity at Suralaya power plant, owned by state utility Perusahaan Listrik Negara, to reduce air pollution affecting Jakarta, but details of the plan are still being discussed.
