Media Release
18 December 2024
Australian Deputy Ambassador to Indonesia Gita Kamath and Asian Development Bank Country Director Jiro Tominaga today announced an investment partnership with Indonesian energy company PT TBS Energi Utama Tbk (TBS) and Electrum to drive sustainable transportation and cleaner air in Indonesia.
Australia is providing a US$5 million concessional loan, alongside a US$5 million loan from the ADB, to support TBS to deliver e-motorcycles and battery-swapping stations across Indonesia.
“Australia and Indonesia are working together, through the Australian Climate Finance Partnership and KINETIK, to realise the economic opportunities of a just and affordable energy transition,” Deputy Ambassador Kamath said.
Indonesia is a critical player in the region’s clean energy transition as the largest automotive market in Southeast Asia.
The Australian Climate Finance Partnership financing will support the manufacture of e-motorcycles in Indonesia, which will be sold for private use and Gojek rideshare vehicles.
This investment is expected to reduce greenhouse gas emissions by at least 123,000 tonnes per year. It will also make e-motorcycles more accessible for consumers and enable longer range travel.
The project demonstrates how Australian development cooperation can mobilise private sector finance by leveraging financial services group DBS Indonesia as a parallel lender.
The Australian Climate Finance Partnership is a concessional financing facility managed by the ADB that supports projects which reduce climate emissions, empower women and improve the investment environment for additional private climate finance.
Media Inquiries: [email protected]
Photos: https://www.flickr.com/photos/kedubesaustralia/albums/72177720322659578