Media Release
15 March 2024
Australian Chargé d’Affaires to Indonesia, Steve Scott, formally launched KINETIK, the Australia-Indonesia Climate and Infrastructure Partnership, on Thursday, 14 March.
The Partnership, first announced by Prime Minister Albanese and President Widodo, is Australia’s flagship climate and energy initiative in Indonesia.
“Valued at AUD200 million, KINETIK will deepen bilateral cooperation to reduce emissions and promote energy systems and industries to accelerate the net zero transition,” said Chargé d’Affaires Scott.
The name KINETIK, or Kemitraan untuk Iklim, Energi Terbarukan dan Infrastruktur, represents Australia and Indonesia’s shared momentum in moving towards a clean energy future.
KINETIK will focus on three mutually reinforcing pillars. Firstly, it will encourage increased investment in the energy transition by supporting Indonesia-led policy and regulatory reform.
Secondly, the Partnership will unlock financing for climate-focused small and medium-sized enterprises through Australian Development Investments, and incentivise investment in larger scale green infrastructure projects.
The Partnership will also promote a just energy transition in which women, people with disabilities and the marginalised participate in and benefit from the shift to net zero.
Early initiatives under KINETIK include Australia Awards short courses to support skills development in areas such as sustainable finance and increasing renewable energy access for remote communities.
The Partnership complements the recent Memorandum of Understanding (MoU) on EV cooperation and MoU between Indonesian Perusahaan Listrik Negara and Export Finance Australia to develop a USD200 million capital financing facility to support Indonesia’s energy transition.
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