The world's largest exporter of coal aims to increase the proportion of renewables in its energy mix to 23% by 2025, but has only reached around 12% so far. Coal currently powers around 60% of the country's electricity needs.
Plans to get rid of 15 Gigawatts of coal power generation over the next three decades will require $600 billion of capital support, Erick Thohir, Minister for State-Owned Enterprises told Bloomberg News on Thursday. The government also set a new pricing system for renewables - geothermal, hydro power, and solar power - to encourage investment. Developers previously had to go through a lengthy negotiation with the state utility to reach a pricing agreement.
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