Indonesia needs 25 billion USD for green hydrogen development
Indonesia will need 25.2 billion USD in investment from the private sector for green hydrogen development for 2031-2060 period, according to the country's Ministry of Investment.
A geothermal power plant owned by state-run electricity company PLN with a capacity of 140 megawatts in Bandung District, West Java. (Photo: Antara)
Jakarta (VNA) - Indonesia will need 25.2 billion USD in investment from the private sector for green hydrogen developm🔯ent for 2031-2060 period, according to the country's Ministry of Investment.
Dendy Apriandi, the ministry's Director for Investment Deregulation, said on August 15 that Indonesia aims to reduce carbon emissions by 43% by 2030. This target requires the above-mentioned investment and Indonesia is working hard to pursue the plan, he added.
One of the companies that have invested in the development of green hydrogen is Pertamina, which has invested 11 billion USD as part of efforts to achieve the green energy advancement target.
Furthermore, intergovernmental organisation Global Green Growth Institute (GGGI) is also cooperating with Samsung and Hyundai in a 1.2 billion USD project in Sarulla Block, North Sumatra, to produce green hydrogen.
Apriandi said that the business potential of green hydrogen development is greater than conventional hydrogen derived from gray hydrogen or natural gas. However, the production cost of green hydrogen is still quite high.
Earlier, the Ministry of Industry highlighted that the development of hydrogen can be an effort to prevent energy crises in the industry sector as well as support the realisation of carbon dioxide reduction. Indonesia has set the target to reduce 912 million tonnes of CO2 by 2030./.
Indonesia is gearing up to move away from a predominantly coal-based economy to one focused on natural gas and renewable energy sources to achieve its pledge of net zero emissions by 2060.
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