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Climate Change

Indonesia's new SOE scheme puts focus on coal phasedown

Investors skeptical over potential cost of deal amid broader clean energy push

Indonesian state electricity utility Perusahaan Listrik Negara plans to sell some of its aging coal-fired power plants. (Photo courtesy of Perusahaan Listrik Negara).

JAKARTA -- Indonesia believes it has found a way to speed up plans to decarbonize its economy -- having state-owned enterprises employ an innovative financing scheme that the Asian Development Bank is touting as a model for much of Southeast Asia.

The region's largest economy is a major coal producer but aspires to reduce its reliance on the resource as it strives to reach President Joko "Jokowi" Widodo's goal of net zero carbon emissions by 2060.

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