(Bloomberg) -- Indonesia’s state utility company, PT PLN, seeks to tap funds from a $20 billion climate finance deal to replace its diesel-fueled power plants with solar.
The project will convert one gigawatt worth of facilities mostly located in remote areas with solar panels, the company said in a statement Saturday.
PLN is looking to get support from the Just Energy Transition Partnership deal signed in November at the Group of 20 Summit together with the US and Japan to help Indonesia pivot from fossil fuels. Indonesia and partner countries are still working on a financing structure for the agreement.
As part of the first phase, PLN may need $700 million to build 0.2 gigawatts of solar in 94 locations, said Evy Haryadi, director for transmission and system planning.
--With assistance from Stephen Stapczynski.
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