GCF Funding Opportunities for Renewable Energy

In participation of the Indonesia EBTKE ConEx 2018, the Fiscal Policy Agency (FPA) of the Ministry of Finance as the appointed National Designated Authority (NDA) for the Green Climate Fund (GCF) in Indonesia, held a side-event to this year’s Indonesia EBTKE ConEx, titled “Green Climate Fund to Unlock Renewable Energy Investment in Indonesia”, at Balai Kartini in Jakarta, 31 August 2018.


The side-event, which was held in a seminar and panel discussion format, had the objective of raising awareness of financing opportunities offered by GCF in Indonesia to all stakeholders in sustainable energy. The seminar was expected to encourage stakeholders to take on this GCF opportunity and get fruitful information on how to access GCF funding to achieve national targets in renewable energy.


Dr. Parjiono, Director of the Center for Climate Finance and Multilateral Policy of FPA officially opened the seminar, addressing Indonesia’s NDC targets in relation to the country’s investment priorities, particularly in the sphere of energy needs. Dr. Parjiono also talked about the GCF being an important option for funding renewable energy development, a point which he later reiterated in a press conference.


After the opening, the representative of the GCF, Leo Hyoungkun Park gave an introduction of the GCF, which includes its short history, projects, and overview. He also stated, “As of August 2018, the GCF has 74 projects worldwide worth USD 12.1 billion. These projects are estimated to the avoidance of 1.3 billion tons of CO2 and an increase in resilience for 217 million people.” The statement highlighted the significance of the GCF.


Leo Park’s introduction of the GCF was then followed by an explanation about the National Designated Authority (NDA) by Dessi Yuliana, GGGI Indonesia’s GCF and Investment Specialist. Dessi Yuliana currently works together with the FPA at the NDA-GCF Secretariat. In her address, Dessi Yuliana talked about the roles of the NDA, particularly in Indonesia, in relation to GCF funding of project proposals and the GCF Country Program.


GGGI was appointed by the FPA as the program’s Delivery Partner in Indonesia to support NDA in providing readiness and preparatory support program for NDA and other entities to build capacity and enable them to access the GCF funding effectively and efficiently. According to Marcel Silvius, the Country Representative of GGGI Indonesia, “The ultimate objective of the readiness program is to increase the country’s capacity to actualize the core principals of the GCF business model, which are country ownership and country-driven approach.”


In the panel discussion that followed, State-owned Electricity Company (Perusahaan Listrik Negara/PLN), PT Sarana Multi Infrastruktur (PT SMI), PT Indonesia Infrastructure Finance (PT IIF), XacBank, and GCF shared their knowledge and experience in developing proposals for renewable energy projects.


Closing in the afternoon following a lunch-break, the event successfully accomplished the objective of introducing ways to become accredited entities (AEs) and to access GCF funding, which will create opportunity for AEs in realizing renewable energy targets.