IEA hosts joint workshop in Jakarta on financing for battery storage in Indonesia

The International Energy Agency, together with Indonesia’s Directorate General of Electricity at the Ministry of Energy and Mineral Resources (DJK-MEMR) and state utility PLN, convened key public and private stakeholders in Jakarta for a two-day workshop on business models and financing opportunities for battery energy storage systems (BESS) in Indonesia.

The discussions informed ongoing IEA analysis on the challenges and opportunities associated with Indonesia’s plans to deploy up to 6 GW of standalone utility-scale BESS and 3.6 GW of co-located solar PV and storage by 2035, targets set out in PLN’s Electricity Supply Business Plan (RUPTL) 2025–2034.

The event brought together representatives from around 50 organisations, including national authorities, regional renewable energy and infrastructure developers, equipment suppliers, commercial banks, development finance institutions, international partners and civil society groups.

Participants examined a range of issues shaping investor and developer confidence in the emerging BESS market. Sessions explored risks affecting project development, Indonesia’s potential to expand its role in the global battery supply chain, key bankability considerations, and options for concessional and blended financing. Case studies from India and Malawi provided insights on procurement approaches and project design lessons from international experience.

Stakeholders expressed strong interest in continuing collaboration with MEMR, PLN and the IEA to accelerate progress on Indonesia’s storage ambitions. The workshop forms part of a broader IEA study that will culminate in a report offering recommendations to support the development of the RUPTL’s proposed BESS pipeline while safeguarding affordability for consumers.