The Energy and Mineral Resources Ministry reports that US$320 million was invested in the new renewable energy sector in the first quarter from January up to March, an official has said, which represents 23 percent of this year's total target of $1.37 billion.
“It’s good enough as we have reached 23 percent of the target in the first three months," the ministry’s director general for new renewable energy and energy conservation, Rida Mulyana, said on Friday.
The investments in the renewable energy sector in the first quarter went into bioenergy ($250 million), geothermal ($75 million) and various other renewable energy projects ($2.4 million).
To attract more investors into this sector, the government will provide more incentives and cute red tape that hampers the issuing of permits, he said.
As part of the national single-window service provision program, Rida said, the ministry will hand over the issuing of investment permits for the renewable energy sector to the Investment Coordinating Board. (sha/bbn)