Indonesian President Prabowo Subianto inaugurated two offshore oil and gas projects on Friday, hailing them as a milestone to reaching energy self-sufficiency.
Prabowo has vowed to boost energy security for Southeast Asia’s largest economy, while also pledging to phase out coal power and reach net-zero emissions by 2050.
“Achieving national energy self-sufficiency is vital for the independence of our nation,” he said.
“If we are able to reach energy self-sufficiency, we will save tens of billions of US dollars.”
The Institute for Essential Services Reform (IESR), a Jakarta-based energy think tank, estimated Indonesia would need $27 billion by 2040 to shut down coal power plants that generate a total capacity of 45 gigawatts.
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