UK investors reportedly eye Indonesian solar

Quite how much of a report in an Indonesian newspaper about UK investors stumping up $4 billion into renewable energy in the south east Asian nation is wishful thinking is unclear, given the lack of supporting detail.

A report in the Jakarta Globe on Tuesday referred to a statement released by the body responsible for generating foreign investment, made the same day.

According to Indonesia’s Investment Co-ordination Board (BKPM), UK investors are preparing to invest in more than 10 GW of solar in the nation as well as funding offhsore tidal projects.

The report quoted BKPM official Himawan Hariyoga whose job, perhaps tellingly, is concerned with promoting Indonesia’s investment opportunities and was supported solely by a statement from the Scottish government’s economic development agency confirming Scottish Development International will visit Jakarta in November to discuss energy, oil and gas investment.

The Jakarta Globe report stated renewable energy accounts for IDR 486 trillion ($37 billion), around a third of the IDR 1.6 quadrillion ($121.8 billion) worth of investment driven by the BKPM from 2010-14.

The investment agency is aiming to generate $56 billion worth of foreign investment in renewables by 2019, perhaps by making optimistic announcements about UK investors.