The Strategist

Bloomberg: Indonesia to relax solar energy rules up to 2025

08/22/2023 - 11:22

The government will do away with the mandate that solar power projects utilize materials that are mostly made in the United States, according to the agency.

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Indonesia will temporarily loosen its regulations for the use of solar energy to encourage more investment in the green economy, Bloomberg writes.

The government intends to remove the mandate for solar energy projects to primarily utilize materials that are produced locally.

This regulation will remain in effect until 2025, when Indonesia's first solar power facility is scheduled to begin operations. The nation will be able to produce more than 4,000 times as much solar energy as it does now, based on conservative predictions, the agency stated.

Acceleration of the energy transition is President Joko Widodo’s one of his top priorities. According to the agency, the $20 billion "Fair Energy Transformation" cooperation includes elimination of the aforementioned condition, which was agreed upon by President of Indonesia, US President Joe Biden, and other world leaders.