Are Indonesia and Vietnam’s multibillion-dollar clean energy deals stuck? Experts say not yet

Associated Press

JAKARTA, Indonesia (AP) — Indonesia and Vietnam signed multibillion-dollar energy transition deals in 2022 that were heralded as drastic shifts in financing that would enable the coal-dependent countries to pivot to cleaner energy. The deals, known as Just Energy Transition Partnerships, were funded by developed nations to help the two countries phase out and retire their heavily polluting coal-fired power plants and replace them with clean energy alternatives such as solar or geothermal. But nearly two years later, critics say little progress has been made under the deals. Supporters say that’s not a fair assessment, arguing that stakeholders are now collectively making policies for the first time, which could attract more funding, and that the projects simply need more time.