Western countries are not ready to finance the early retirement of coal-fired power plants, an Indonesian official said on Monday, based on discussions held with countries in the Just Energy Transition Partnership (JETP) programme.
Last November, Indonesia became the second country to enter into JETP that will deliver $20 billion in funds from a coalition of developed countries to help reduce its dependence on fossil fuels, but its announcement of investment plans has been delayed.
"During the discussion it is very clear that they are not eager to provide financing for early retirement," Septian Hario Seto, Indonesia's deputy of investment and mining coordination, Coordinating Ministry for Maritime and Investments Affairs, told Reuters on the sidelines of industry conference Coaltrans.
He added that the phase out of coal use will require concessionary funds from developed countries.
(Reporting by Sudarshan Varadhan; Writing by Florence Tan; Editing by Kim Coghill)