Indonesia wealth funds to double down on energy transition
Energy
INA to boost renewables portfolio; Danantara eyes power grid investment
Ridha Wirakusumah, CEO of Indonesia Investment Authority, left, and Pandu Sjahrir, chief investment officer of Danantara, speak at the FT & Nikkei Energy Transition Summit: Asia in Jakarta on June 25. (Photos by Dimas Ardian)
ISMI DAMAYANTI
JAKARTA -- Senior executives at Indonesia's two sovereign wealth funds on Wednesday said they will expand investment in clean energy transition projects this year, citing plans ranging from electric vehicle supply chains to power grid upgrades.
Ridha Wirakusumah, CEO of the Indonesia Investment Authority, or INA, said renewable energy projects currently make up 12% of its $4 billion investment portfolio. INA is aiming to increase that proportion to between 15% and 20% by the end of 2025.
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