ADB sees ‘significant progress' in Energy Transition Mechanism
The ETM was launched at COP26 last year.
The Asian Development Bank (ADB) reported its energy transition mechanism made a “significant progress” since its launch at the COP26 last year.
“Last year, together with Indonesia and the Philippines, we set out to deliver a very ambitious programme to accelerate the energy transition in Asia and the Pacific,” ADB’s Director General of Sustainable Development and Climate Change Bruno Carrasco said.
“I am proud to report the ETM programme has reached a number of significant milestones, moving from concept toward an operational programme. And this is only the beginning.”
Amongst these developments is the signing of a memorandum of understanding at the G20 in Bali, providing for the exploration of the early retirement of the 660-megawatt Cirebon-1 in West Java.
This is the first privately owned coal-fired power plant to undergo the ETM programme.
The Indonesian government has also launched the Indonesia ETM Country Platform which will act as the central coordination platform to accelerate retirement or repurposing of coal amongst others.