Japan signs 70 MOUs with partners on energy transition

Toyota Tsusho

21/08/2024 05:54

JAKARTA, Aug 21 (Reuters) - Japan signed 70 memorandum
of understandings (MOU) on energy transition with partners on
Wednesday on the sidelines of Asia Zero Emission Community
(AZEC) ministerial meeting in Jakarta. 
    The AZEC was proposed by Japanese Prime Minister Fumio
Kishida in 2022 and launched by 11 partner countries including
Indonesia, Australia, Vietnam and Thailand in 2023, with the aim
of sharing the philosophy of promoting decarbonisation in Asia
and cooperating to push forward energy transition.
    "Today 70 new MOUs will be announced. For 14 of the
projects, METI has made available to $1 billion to provide new
financial support through a project in partnership with global
South support scheme," Japan's Minister of Economy, Trade and
Investment Ken Saito said during the opening of AZEC ministerial
meeting.
    Saito said AZEC seek to create sustainable fuel market in
the transportation sector in an effort to achieve energy
transition in Asia. 
    Indonesia's coordinating minister of the economy, Airlangga
Hartarto, said cooperation needed to focus on enhancing regional
power grids, invest in new energy such as hydrogen and ammonia
while promoting "next-generation vehicles" and sustainable
fuels. 
    One of the MOU signed on Wednesday was with Toyota Tshuso's
plan to develop biofuels and green hydrogen with Indonesia's
state energy firm Pertamina. The full list of MOUs signed was
not immediately released.

 (Reporting by Bernadette Christina; Editing by Michael Perry)
 ((Bernadette.Christina@thomsonreuters.com;))