Indonesia seeks World Bank, ADB deal on US$4 billion coal phaseout

A truck carries coal at PT Adaro Indonesia coal mining in Tabalong, Kalimantan island, Indonesia October 17, 2017. Picture taken October 17, 2017. Antara Foto/Prasetyo Utomo via Reuters

JAKARTA, Oct 22 (Bloomberg): Indonesia is proposing about US$4 billion of projects to funders including the World Bank and the Asian Development Bank to help wean itself off of coal, with a deal possible as early as next week.

The funds would go toward accelerating the retirement of up to 2 gigawatts of coal-fired power plants, according to a public consultation document. BloombergNEF data shows Indonesia has about 37 gigawatts of such plants.