The Indonesia-Europe Business Forum in Jakarta on October 17. (Photo courtesy of Indonesia's Ministry of Foreign Affairs) Jakarta (VNA) – Indonesia has secured a 2 billion USD worth of investment commitment in the renewable energy sector at the Indonesian-Europe Business Forum (IEBF) held recently in Jakarta, 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.
Government estimates showed that the accumulated total of business transactions and signed cooperation agreements topped 482 million USD.
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./.
