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Country Brief: Sustainable Cooling for All in Ghana

Knowledge brief
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The need for sustainable cooling for all in Ghana

Cooling and cold chains are vital for healthcare and vaccines, for nutrition and agricultural value chains, for thermal comfort at home, work, school and in transportation, and for industrial processes and data centres. Affordable and sustainable cooling is essential for a thriving society and a healthy nation, sitting at the intersection of the Paris Climate Agreement, the Kigali Amendment of the Montreal Protocol and the UN Sustainable Development Goals (SDGs).

However, millions of people in Ghana lack access to affordable, reliable, sustainable cooling solutions, exposing them to severe health, wellbeing, and socioeconomic consequences. According to Sustainable Energy for All’s (SEforALL’s) Chilling Prospects analysis, there are 12.9 million rural and urban poor at high risk in Ghana due to a lack of access to cooling because they live below the international poverty line (less than USD 2.15 per day, as set by the World Bank) in substandard housing and do not have access to electricity. There are a further 16.6 million lower-middle-income people at medium risk due to a lack of access to cooling who also live without access to electricity and, although not impoverished, have limited financial resources to purchase cooling services. Given the significant power interruptions during 2024, commonly referred to as "dumsor", there could be more people at risk to extreme heat as fans, air-conditioning units and fridges, etc., cannot operate without power.  

For Ghanaians with reliable access to electricity, refrigeration and air-conditioning (RAC) usage is increasing due to rising incomes, temperatures and frequency of heatwaves, and further growth expected in this sector will impact Ghana’s energy systems and climate goals. The 2021 Ghana National Cooling Plan (NCP) projects that energy demand for the RAC sector will increase steadily from 7.04 TWh in 2015 to 20.9 TWh in 2050 with a corresponding greenhouse gas (GHG) emissions increase from 5.05 mT CO2eq in 2015 to 12.8 mT CO2eq in 2050 under a ‘business-as-usual’ (BAU)’ scenario. To align with national energy and climate strategies such as the Ghana Energy Transition and Investment Plan(ETIP), these emissions need to be abated.  Building on Ghana's leadership in promoting energy-efficient cooling and its commitment to the Global Cooling Pledge, now is an opportune time to reassess cooling needs to align with development, health and economic goals.  Cooling plays a critical role in supporting Ghana's climate objectives and ensuring a just and equitable energy transition.  

This country brief presents Ghana’s cooling needs, discusses challenges and opportunities in critical cooling sectors, reviews the high-level but key thematic solutions, and recommends priority areas for policy and market interventionsthat would advance sustainable cooling for all in Ghana. Details are available in the full report.  

Climate

Ghana [1] is in West Africa and 540 km of its coastline are along the Gulf of Guinea. Generally, the country has a warm tropical savanna climate though this varies across geographical zones according to its latitude (4° to 12°N), varying elevations and proximity to the ocean. Ghana’s mean annual temperature is 27.3°C and the mean minimum and maximum annual temperatures are 22.1°C and 32.5°C, respectively. The highest recorded temperature is 43.8°C in the Upper East region of Navrongo [2]. Northern Ghana typically experiences one rainy season from May to September, while southern Ghana has two rainy seasons, the major one from April to July and a minor one from September to November. Humidity levels are high throughout much of the year, particularly in coastal and forest regions, ranging from 70 to 100 percent, depending on the season and region.

Ghana is expected to face significant changes in its climate, with mean temperatures projected to rise by 1.0°C to 3.0°C by the middle of the century and 2.3°C to 5.3°C by the end of the century (dependent on four Representative Concentration Pathways (RCPs), i.e., RCP2.6, RCP4.5, RCP6.0, and RCP8.5) [3]. Northern and inland areas will be the hottest, and the frequency of hot days and nights in all areas is expected to increase by 18-59 percent by the middle of the century, accompanied by a decrease in the frequency of cooler periods. These changes underscore the need for climate adaptation strategies, particularly in northern regions.

The five northern regions (Upper West, Upper East, Northern, Brong Ahafo, Volta) have a high heat hazard classification, whilst the four coastal regions (Western, Ashanti, Eastern, Central, Greater) have a medium heat hazard classification. (See Figure 1.)  However, in 2024, the coastal zone of Western Africa (including parts of Ghana) experienced abnormal early season heat with a combination of high temperatures and relatively humid air that put people in extreme danger of heat cramps, heat exhaustion and heat stroke. [4], [5]

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Figure 1: Map illustrating risk of extreme heat in Ghana

Population and Economy

Ghana has a population of approximately 34 million people, 59 percent of whom reside in urban areas (2023), including major cities like Accra and Kumasi. About 25.2 percent of the population live below the poverty line (2016), and 33 percent of the total population (8.8 million) reside in informal or slum housing (2020). [6] 

Ghana's economy is robust and diverse, with key sectors including agriculture (20.9 percent of GDP), industry (34.2 percent) and services (44.9 percent). [7] Ghana is Africa’s largest gold producer, and the economy has significant contributions from the mining and minerals sector, as well as growing oil and gas industries. The manufacturing and services sectors are also vital to the nation’s economic landscape.

Electricity Access, Power Generation and Carbon Emissions

Access to electricity has improved considerably; 95 percent of urban populations now have access, though the figure is lower for rural populations (72 percent). This means the average rate of electrification is 85.1 percent (as of 2022). 8  The country is aiming for universal electrification by 2030.

Ongoing power interruptions, known as "dumsor," resulting from maintenance issues, financial constraints and gas supply difficulties, have been a significant challenge in 2024. Load-shedding schedules have been implemented to manage these disruptions.

According to Ghana’s ETIP, in 2020, its power generation totalled 20.45 TWh, with a source mix of gas (56.68 percent), hydro (39.28 percent), oil (3.79 percent and solar (0.31 percent), resulting in carbon emissions of 6.23 Mt CO2e.

Looking ahead to 2050 under the ETIP net-zero pathway, Ghana plans to shift its energy mix dramatically towards renewables, with solar energy expected to account for 71.4 percent of generation capacity, complemented by nuclear (10.24 percent), hydro (13.87 percent) and onshore wind (3.86 percent). Gas use will drop to 0.72 percent, with a portion using carbon capture and storage (CCS). The total power generation required is expected to reach 148.97 TWh, but associated carbon emissions will decrease significantly to 0.4702 Mt CO2e, aligning with Ghana’s target of achieving net-zero emissions by 2060. The transition will involve a massive scale-up of solar PV, beginning in 2020 and accelerating from 2040, alongside the introduction of nuclear power by 2045.

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Figure 2: Power generation mix and capacity from 2020-2050 under the ETIP Net Zero by 2060 pathway (Data source from the Ghana ETIP)

Cooling Access

Chilling Prospects analysis shows that Ghana has:  

  • 12.9 million people at high risk due to a lack of access to cooling. This includes 4.17 million rural poor who lack electricity and live in extreme poverty, often engaging in subsistence farming without access to intact cold chains, and 8.78 million urban poor with limited or no electricity access, living in thermally poor housing and facing intermittent electricity supplies.
  • 16.6 million people at medium risk of a lack of access to cooling, 51% of whom are women. The population at medium risk represents an increasingly affluent lower-middle-income class that is on the brink of purchasing the lowest-cost air conditioner or refrigerator on the market.  

The proportion of the population at high risk in Ghana is similar to that of neighbouring countries. In Togo and Burkina Faso 41 percent and 39 percent of the population are at high risk, respectively. The proportion of the population at high risk in neighbouring Cote d’Ivoire is slightly less at 32 percent.  

 

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Figure 3: Sustainable Development Goals & Cooling in Ghana

 

 

Notes and references: 

[1] Climate Risk Profile: Ghana (2021): The World Bank Group

[2] Masters, Jeff (18 January 2018). "NOAA: Earth Had Its Third Warmest Year on Record in 2017". Wunderground. Archived from the original on 30 April 2018. Retrieved 27 October 2023.

[3] RCPs are defined by their total radiative forcing (cumulative measure of GHG emissions from all sources) pathway and level by 2100. For simplification, these scenarios are referred to as a low (RCP2.6); a medium (RCP4.5) and a high and business-as-usual (RCP8.5) emission scenarios in this profile.  More information about RCPs in this link.

[4] World Weather Attribution (2024). ‘Dangerous humid heat in southern West Africa about 4°C hotter due to climate change’

[5] ThinkHazard! (2020). Ghana – Extreme Heat

[6] World Bank Development Indicators (2024), Ghana.

[7] Ghana Statistical Service, Sectoral Share of GDP 2022. 

[8] IEA, IRENA, UNSD, World Bank, WHO. 2024. Tracking SDG 7: The Energy Progress Report. World Bank, Washington DC.  

 

Country

Ghana

Programme

Cooling for All

Country Brief: Sustainable Cooling for All in Kenya

Knowledge brief
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The need for sustainable cooling for all in Kenya 

Cooling and cold chains are vital for healthcare and vaccines, for nutrition and agricultural value chains, for thermal comfort at home, work, school, in transportation, and for industrial processes and data centres. Affordable and sustainable cooling is essential for a thriving society and a healthy nation, sitting at the intersection of the Paris Climate Agreement, the Kigali Amendment of the Montreal Protocol and the UN Sustainable Development Goals.  

However, millions in Kenya lack access to affordable, reliable, sustainable cooling solutions, exposing them to severe health, wellbeing, and socioeconomic consequences. Regions like the Rift Valley, Northeastern, Eastern, and Coast face the most extreme temperatures. In these hottest regions, according to Chilling Prospects analysis, there are 9.6 million rural and urban poor at high risk due to a lack of access to cooling because they live below the international poverty line (less than USD 2.15 per day, set by the World Bank) in substandard housing and do not have access to electricity. There are a further 14.8 million lower-middle-income people at medium risk due to a lack of access to cooling who also live without access to electricity and, although not impoverished, have limited financial resources to purchase cooling services.  

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Figure 1: Map of Kenya

For Kenyans with access to electricity, refrigeration and air-conditioning (RAC) usage is increasing due to rising incomes, temperatures, and heatwaves and will impact Kenya’s energy systems and climate goals. Based on analysis from GIZ in the report Greenhouse Gas Inventory for the Refrigeration & Air Conditioning Sector in Kenya, the 2022 National  Cooling Action Plan for Kenya (NCAP) projects that the combined direct and indirect emissions from RAC, currently at approximately 4 Mt CO2eq in 2030, could reach 7.87 Mt CO2eq in 2050 under a ‘business as usual’ scenario, through a combination of refrigerant leakage, appliance end of life, and energy use. To align with national energy and climate strategies, these emissions need to be abated.  

With the recent release of Kenya’s Energy Transition and Investment Plan 2023-2050 (ETIP), which outlines Kenya’s path to achieving Net Zero by 2050 while growing the economy and leveraging green growth opportunities, and the government's commitment to the Global Cooling Pledge, it is a timely moment to reassess cooling requirements to meet Kenya’s societal, health and economic goals whilst underscoring the important role of cooling in supporting Kenya's energy transition and climate goals and ensuring no one is left behind.

This country brief presents Kenya’s cooling needs, discusses challenges and opportunities, including those related to its significant agriculture sector, reviews the solutions necessary to advance sustainable cooling for all in Kenya, and recommends priority areas for policy and market interventions that would advance sustainable and equitable cooling for all in Kenya. Details can be explored in the full report.  

Climate

The climate [1] in Kenya varies. The coast is typically hot and humid whilst the country’s northern and northeastern areas are generally very hot and arid. Inland areas are more temperate, and the central highlands are cooler.

Historic average temperatures for Kenya range from a nighttime minimum of 18.3°C to daytime maximum of 30.3°C. However, the Rift Valley, Northeastern, Eastern and Coast provinces experience much higher heat exposure, especially during the dry seasons. Turkana County in the north of the Rift Valley Province is significantly hotter than the rest of the county, with monthly average highs close to 40°C.

Kenya’s temperatures could rise by as much as 3.5 Celsius degrees [2] by the end of century under a ‘business as usual’ climate scenario (i.e. Representative Concentration Pathway 8.5 by a World Bank 2021 study)1. Even under the “middle of the road” scenario (Shared Socioeconomic Pathway, or SSP, 2-4.5) rising temperatures will be significant and there will be more hot days experienced – see figure below. 

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Figure 2: Projected number of annual hot days where the maximum temperature exceeds 35°C across Kenya under climate scenario SSP2-4.5; 50th percentile.

Population and Economy

Kenya has a diverse and youthful population [3] of over 55 million people, with a significant portion (29.5 percent) residing in urban areas like Nairobi and Mombasa. 36 percent of the total population live below the poverty line and 51 percent of the urban population live in informal, or slum, housing.  

The economy is the largest in East Africa, driven by agriculture (approximately 33 percent of GDP), tourism, manufacturing, and services, with recent growth in technology and innovation sectors positioning Kenya as a regional economic hub.

More than half of the population live in the hottest provinces of Kenya - the Rift Valley, Northeastern, Eastern and Coast. 

Electricity Access, Power Generation and Carbon Emissions

Kenya's power generation is predominantly from renewable energy sources, currently over 90 percent, with significant contributions from geothermal and hydro. Access to electricity has improved considerably, with 98 percent of urban populations having access. However, rural areas still face challenges in achieving full electrification (65 percent), making the country’s access total 76.6 percent in 2022. [4]

The country’s Energy Transition and Investment Plan provides a pathway to net zero by 2050 that includes a significant increase in the capacity of renewable power generation to plug electricity access gaps and meet the country’s growing electricity demand that is driven substantially by income growth.  

In 2020, power generation was 12.02 TWh, predominantly generated by geothermal (42 percent) and hydro power (39 percent). The associated electricity grid carbon factor was 56.81 gCO2/kWh and total annual carbon emissions from power generation 0.68 MtCO2.  

By 2050 Kenya’s annual power generation necessary to meet electricity demand is projected to be 239.40 TWh, 20 times more than that in 2020, with an electricity grid carbon factor of –0.07 gCO2/kWh (negative due to a portion of power being generated through biomass with carbon capture and storage).  
New solar PV, wind and geothermal meet most of the power generation increase in 2050. Some growth is met with nuclear and hydro, as far as available resources allow. Under the plan, unabated fossil fuels are phased out by 2040, with storage playing the key balancing role. Around two thirds of the power demand is driven by powering industry and buildings, with the remaining third driven by demand from transport and hydrogen production. Cooling systems are needed across all these sectors, and it is necessary to limit cooling demand such that it does not undermine the net-zero pathway.  

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Figure 3: Power generation mix and capacity from 2020-2050 under the ETIP Net Zero by 2050 pathway

Cooling Access

Within the hottest regions of Kenya – the Coast, Eastern, Northeastern, and Rift Valley provinces – Chilling Prospects analysis shows that:  

9.6 million people are at high risk due to a lack of access to cooling. This includes 5.1 million rural poor who lack electricity and live in extreme poverty, often engaging in subsistence farming without access to intact cold chains, and 4.5 million urban poor with limited or no electricity access, living in thermally poor housing and facing intermittent electricity supplies. 
Outside the analysed hot regions, cooling access remains a challenge, exposing many to the harmful effects of heat without adequate adaptation. For example, small-scale fishermen in Homa Bay lack cold chain infrastructure, and residents of Nairobi's informal settlements like Kibera, Mathare, and Mukuru live in poorly constructed homes that intensify heat. As a result, temperatures in these areas often exceed those in formal Nairobi neighbourhoods, reaching levels that pose health risks, particularly for children and the elderly.  

 

Notes and references: 

[1] Climate Risk Profile: Kenya (2021): The World Bank Group

[2] World Bank (n.d), Climate Change Knowledge Portal, Retrieved 16 August 2024 

[3] World Bank Group (2023), World Development Indicators; Food and Agriculture Organization of the United Nations (n.d). Kenya at a glance, Retrieved August 16 2024; and 2019 Kenya Population and Housing Census: Volume 2 Distribution of Population by Administrative Units

[4] IEA, IRENA, UNSD, World Bank, WHO. 2023. Tracking SDG 7: The Energy Progress Report. World Bank, Washington DC.

 

Country

Kenya

Programme

Cooling for All

Integrating Clean Cooking into National Energy Access Planning

Knowledge brief
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Tools and Considerations for Planning and Implementing eCooking

This report aims to inform energy access planning in low- and middle-income countries, addressing both clean cooking and electricity access. It highlights the role of electric cooking (eCooking) as a key element in this integration. The report reviews relevant tools and methodologies for integrated energy access planning and provides an overview of policy, financial, and knowledge initiatives that create the enabling conditions for implementing such plans and accelerating clean cooking transitions.

Energy planning plays a crucial role in shaping policy, regulatory, investment and management decisions that contribute to both the clean energy transition and the expansion of energy access. A systematic analysis of the energy sector and its various sub-components can not only help set policies or quantitative targets that promote the efficient use of financial and energy resources, but also improve coordination in decentralized, multi-actor, market-based systems by fostering a shared vision and common understanding of the key issues and trade-offs involved in achieving policy objectives.

Tools for action

Energy planning tools and models can help define implementation strategies and feed information into the design of specific support mechanisms, policy or projects that are relevant for the implementation and operationalization of energy plans. This report presents valuable insights on strategies and mechanisms that enable the operationalization and implementation of integrated energy plans, focusing particularly on those that can help accelerate progress on transitioning towards eCooking. 

Programme

Clean Cooking

The Gender-Energy Nexus in the AI Era: Challenges and Opportunities

Knowledge brief
AI

The intersection of gender, energy and Artificial Intelligence (AI) presents both challenges and opportunities for achieving gender equality and sustainable development. AI can be a critical enabler in accomplishing 134 of the 169 targets under the framework of the Sustainable Development Goals (SDGs), with over 600 AI-enabled use cases identified. However, the impact of AI at the intersection of SDG7 (Affordable and Clean Energy) and SDG5 (Gender Equality) requires significant attention.  

While AI shows positive potential for supporting SDG7 by ensuring universal access to affordable, reliable, sustainable and modern energy for all, SDG5 has the lowest number of AI-enabled use cases, with only 10 out of approximately 600 cases identified. This disparity is concerning considering that lack of energy access disproportionately affects women and girls. UN Women has reported that if current trends continue, by 2030, an estimated 341 million women and girls will still lack electricity, with 85 percent of them in Sub-Saharan Africa. 

The Gender-Energy Nexus in the AI Era: Challenges and Opportunities report was produced by SEforALL’s Gender and Youth team. It explores the intersection of gender, energy, and AI, highlighting challenges and opportunities for gender equality and sustainable development. 
 

Programme

Gender and Youth

Careers in Sustainable Energy: International Development

Knowledge brief
youth-manual

This handbook has been developed to help those interested in pursuing a career in sustainable energy discover the roles on offer at SEforALL and the steps they need to take to begin their sustainable energy career journey. It is designed to assist diverse groups of young people at different levels of the educational system, and at varying stages of their career journeys — from students in secondary and tertiary levels of education, to young professionals in entry and mid-career stages of employment.

The purpose of this handbook is to: 

  • Highlight career opportunities for young professionals in the sustainable energy sector.
  • Increase awareness among young people of career pathways and opportunities in the international development space, including examples of careers within the broader SEforALL organizational structure
  • Guide and serve as a reference for young people on the skills and education requirements they need to have to pursue career opportunities in the sustainable energy sector.
  • Amplify the lived experiences and testimonials of other young people who have worked with SEforALL across the globe.

Programme

Gender and Youth

Nigeria Green Manufacturing Policy and Investment Guide

 

Nigeria’s Energy Transition Plan (ETP), launched in 2021, offers a pathway to meet net zero by 2060 while meeting the country’s energy needs.

Local manufacturing is a key priority for the Nigerian government and is embedded in the ETP as well as various national plans and policies. Original equipment manufacturers (OEMs) will play a critical role in the renewable energy development value chain. The local manufacturing/assembly of key technologies such as solar panels, inverters, solar standalone systems, electric vehicles is essential to support the decarbonization targets for the government.

To aid the private sector, investors and other stakeholders in navigating the manufacturing policy and regulatory landscape in Nigeria, this guide offers insights on two key areas:

  • Considerations for OEMs in establishing a renewable energy (RE) manufacturing company: applicable laws, processes and institutions to engage. 
  • Overview of the domestic green manufacturing policy landscape: available incentives, stakeholders and governance.

Key highlights of Nigeria's net-zero aligned pathway:

8G

Utility-scale solar capacity, by 2030

197G

Utility-scale solar capacity, by 2050

76%

Of total installed capacity in power sector, by 2050

60%

Electric vehicles, by 2050

20%

Hybrid vehicles

100%

of the vehicle fleet, fully electrified by 2050

The guide is not designed to be an exhaustive resource but rather offers a preliminary understanding of the sector landscape. It forms part of a series of country-specific guides for each of Africa Renewable Energy Manufacturing Initiative’s (Africa REMI) focus countries.

Country

Nigeria

The energy transition: a catalyst to address the global triple crisis

Knowledge brief
Wind park

This Knowledge Brief was developed by SEforALL for the G20 Energy Transition Working Group and G20 Energy Ministerial meetings in Goa, India in July 2023. 

This short analysis highlights how the world is currently facing a triple crisis—severe cost of living, energy security, and food security challenges are impacting most of the world, but their effects are disproportionately felt by developing countries and vulnerable communities. These crises, coupled with the ongoing climate crisis, hamper progress on development priorities, including action on climate change. Although these crises are distinct, they are deeply interlinked, primarily through the rising energy prices affecting both the overall cost of living as well as the availability of fuel and fertilizers, which in turn directly impact agricultural productivity. 

The global energy transition towards cleaner and more sustainable energy sources for all sectors presents a significant opportunity to address these crises through its cost benefits, job creation potential, local market creation, and climate benefits. 

As described in the Knowledge Brief, specific actions are needed to help deliver systemic catalytic financial solutions to support the energy transition and the scale-up of renewables. These include: 

  • Identifying market potential and pipelines 
  • Developing innovative financing mechanisms 
  • Accurately pricing climate risk and scaling local currency investing 

 

 

The Role of End-User Subsidies in Closing the Affordability Gap

Knowledge brief
affordability

Designing effective, efficient and supportive end-user subsidy programmes is a complicated process that relies on significant data and information, including an accurate understanding of the affordability gap in the targeted country or region. This brief builds on the existing literature regarding the development and implementation of end-user subsidies for SHSs. Its purpose is to: a) survey efforts to develop and advance a methodology to assess the affordability gap and the implied level of end-user subsidy required by the market, b) utilize case studies to map key attributes of subsidy design and demonstrate what these attributes look like in practice, and c) identify key data points required to accurately determine subsidy thresholds and targeting mechanisms to improve the success of subsidy programmes moving forward.

To demonstrate how the different attributes of subsidy design function for SHSs in practice, this brief considers three case studies: one from a relatively mature electricity market (Ghana) and two from emerging electricity markets (Uganda and Togo). The end-user subsidy programmes implemented in each country were also assessed on whether they directly addressed the affordability gap challenge in rural regions outside of potential grid connections.

This report is part of the series:  Energizing Finance

Paris Alignment of Power Sector Finance Flows in India: Challenges, Opportunities and Innovative Solutions

Knowledge brief
India bpower cover

This brief, by examining the current financing landscape of the Indian power sector, and its alignment with India’s Nationally Determined Contributions (NDCs), aims to identify the challenges and opportunities in financing the country’s ambitious renewable energy targets to facilitate a smooth energy transition.

Key findings

  • India has made significant progress in achieving its Nationally Determined Contributions under the Paris Agreement and is expected to meet the targets set before 2030.
  • However, fossil fuels, especially coal, continue to be the mainstay of India’s electricity generation mix (74 percent) in the cost optimal capacity mix.
  • Continued financing of coal-fired power projects is keeping India’s carbon intensity well above the levels required to align with a global mean temperature rise of <1.8°C, consistent with the Paris Agreement-aligned IEA Sustainable Development Scenario (SDS).
  • There is a need to not only continue to ramp up zero-carbon power investments, but also to act swiftly to accelerate the decommissioning and replacement of existing high-carbon capacity.
This report is part of the series:  Energizing Finance

Country

India

Programme

Energy Finance

Paris Alignment of Power Sector Finance Flows in Indonesia: Challenges, Opportunities and Innovative Solutions

Knowledge brief
indonesia power cover

This brief, by examining the current financing landscape of the Indonesian electricity generation sector, and its alignment with Indonesia’s Ministry of Energy and Mineral Resources’s Net Zero Emission 2060 Scenario (MEMR’s NZE 2060), aims to identify
the challenges and opportunities in financing Indonesia’s ambitious targets on renewable energy towards an energy transition.

Key findings

  • Total tracked power sector finance commitments stood at USD 5.3 billion per annum between 2015-2020, dominated by fossil fuels, but investments to renewables increased between 2017 and 2019. However, 2020’s trend signals a setback.
  • Fossil fuel-based power plants accounted for 46 percent (with 84 percent of total fossil fuel-based finance commitments directed toward coal-fired projects), followed by 44 percent of renewable energy projects (34 percent for grid connected renewables and 10 percent mini grid and off grids), and the remaining 9 percent for other renewable technologies and market support.
  • Finance from international sources, particularly from DFIs, accounted for 65 percent of all finance commitments to the power sector. A key turnaround in 2018, when international finance to fossil fuel-based energy sources (primarily for coal), dropped by 68 percent over the period 2018-2020, driven by a shift in market preference and global policy signals to align financing with Paris Agreement objectives.
This report is part of the series:  Energizing Finance