Indonesia to soon develop renewable energy

11 April, 2012 | Source: ANTARA News

Indonesia will soon develop renewable energy to replace the country`s diminishing oil reserves, according to Deputy Energy and Mineral Resources Ministry, Kardaya Warnika.

"Indonesia has oil reserves of about 4 billion barrels, and it is estimated this will run out within the next 11 years. Therefore, we need to develop renewable energy as soon as possible," Kardaya recently said on the sidelines of a seminar entitled `The Development of New Renewable Energy to Save Fossil Fuel for the Sake of National Resilience`.

Officials note that renewable energy could become a solution for dealing with the energy crisis and maintaining energy resilience.

Currently, the nation receives up to 95 percent of its energy supply from fossil energy, such as oil, natural gas and coal.

The attraction of renewable energy includes its being environmentally friendly, endless and available domestically.

"Investment in oil and gas would require billions of US dollars, while renewable energy needs only billions of rupiahs," he noted.

The government hopes that the development of renewable energy will reach 25 percent of the nation`s needs by 2025. However, subsidies are a factor hampering the development of renewable energy, he added.

The ministry is currently developing 100 megawatts of solar power energy (PLTS) and 50 megawatts of windmill power energy.

A location for the development of PLTS is being looked for, while a windmill power energy plant will be built in Yogyakarta.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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