Jakarta, IO – West Java province has become an attractive renewable energy investment destination in the eyes of a number of investors from many countries, especially the Middle East. Projects such as geothermal, solar panels and micro-hydro are the province’s biggest potential because it has a fairly large market share.
West Java One-Stop Integrated Licensing Investment Service (DPMPTSP) head Nining Yuliastiani revealed that a number of countries in the Middle East are interested in investing in the renewable energy sector. Thus, the government is expected to support this development which will have a positive impact on the local economy, per Kompas, Friday (11/8).
“Companies from the Middle East are very interested in this renewable energy investment. They are interested, for example, in geothermal, solar panel and micro-hydro projects,” said Nining.
Nining claimed that investors are ready to incur whatever costs are needed to develop the sector as long as the investments are in the renewable energy sector and in accordance with the criteria they specify.
“In West Java there are seven reservoirs that have the potential to be developed into renewable energy projects such as solar panels. We have Cirata, Jatiluhur, Jatigede reservoirs and others. We can offer this great potential to them,” she said.
One of the projects that has begun is solar panel in Cirata Reservoir with a value of Rp1.7 trillion and is expected to be completed in October. The project will be able to generate an electricity capacity of up to 150 Megawatts (MW).
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A geothermal project in Garut and mini hydro in Ciwidey are also underway. Nining hopes the investment target of Rp188 trillion can be achieved given that the first semester has seen an inflow of Rp103.6 trillion.
In accordance with national roadmap, West Java is also committed to making renewable energy an important part of efforts towards net zero emission (NZE) target by 2060. In fact, the province has set the target to meet 25 percent of its energy need from renewable energy sources by 2025. (bp)