INA and Denmark's IFU Pledge US$500 Mln for Green Energy Investment

The Indonesia Investment Authority (INA) signed an investment framework agreement with Denmark's Investment Fund for Developing Countries (IFU). The two parties are exploring investment opportunities for green energy transition and inclusive social development in Indonesia. Chairman of INA's Board of Directors Ridha Wirakusumah said the agreement covers joint investments in renewable energy, water, waste management, and circular economy.

According to Ridha, from a US$500 million investment, INA and IFU will each contribute US$100 million. "We will seek the remaining US$300 million," Ridha said Tuesday. He is optimistic that INA and IFU will jointly look for potential co-investors to contribute to meeting the investment target. He said the scale of investment from the IFU reached US$15 million-US$50 million per project. "The emphasis is on investments that have an impact and bring big things," he said.