Participants of the 100% RE capacity building session, including WNT’s local government officials on 29 March 2023.

Access to climate and energy finance is one of the keys towards the development of renewable energy in West Nusa Tenggara (WNT), Indonesia. According to OECD, USD 83.3-billion was provided and mobilized for climate in 2020, with 50% of total climate finance allotted for renewable energy-related projects.

ICLEI Indonesia on 29 March 2023 conducted a virtual knowledge-sharing session with the project implementation team of the 100% Renewable Energy (RE) program alongside WNT government officials to discuss climate and energy finance and help accelerate the province’s transition to clean energy.

Titled “Introduction and how to access climate and energy finance”, the virtual session aimed to capacitate the stakeholders in key strategies for developing bankable RE project proposals in WNT.

Dr. Hakimul Batih, a climate finance expert from OECD, highlighted the importance of developing feasible and bankable proposals that include financial institutions in regional events, as well as building human resources on advanced technologies such as green hydrogen. 

“Asia and Lower-Middle Income Countries were, respectively, the main beneficiary region and income group of energy-related climate finance that were provided and mobilized. By capacitating the local governments and relevant stakeholders, access to climate financing can be explored for sustainable development” explained Dr. Batih.

In Indonesia’s context, the Ministry of Finance, the Ministry of National Development Planning (BAPPENAS), The Ministry of Environment and Forestry, and the Indonesia Financial Services Authority (OJK) play key roles in provisioning climate finance across the nation.

ICLEI Indonesia has been assisting WNT with the needed resources to establish its local clean energy framework. It is expected that the region will soon finalize potential bankable projects to accelerate its energy transition.