JAKARTA - Indonesian state utility Perusahaan Listrik Negara seeks a $700-million investment to install a 200-megawatt (MW) solar panel that will replace diesel power generators in a bid to reduce carbon emission, the company said late on Saturday.

The plan is part of its target to reach net zero carbon emissions by 2060. PLN has planned to have 4.68 gigawatt (GW) of solar panels installed between 2021 and 2030.

The company's director Evy Haryadi said the 200 MW solar panel is the first phase of a longer term plan to replace 1 GW of diesel power plants with solar power. He didn't provide details on the timeline for the initial phase.

A coalition of countries has pledged $20 billion of public and private financing to help Indonesia transition to cleaner energy under the Just Energy Transition Partnership (JETP).

Indonesia aims to finalise a detailed plan for JETP fund allocation by August, according to the head of Indonesia's JETP Secretariat Edo Mahendra, adding that PLN's plan to shift from diesel power to renewables will be a pilot program in JETP.

(Reporting by Bernadette Christina; Editing by Bernadette Baum)