7 December 2022


Indonesia Investment Authority and IFU ink an investment framework agreement to advance the green transition and an inclusive social development in Indonesia.

Indonesia Investment Authority (INA) has signed an Investment Framework Agreement (IFA) with IFU to explore investment opportunities, which will advance the green energy transition and inclusive social development in Indonesia, including prospective co-investments in renewable energy, water, waste management, and other circular opportunities.

The target total value of the joint investments is expected to reach up to $500 million. IFU and INA have the ambition to provide risk capital to green and sustainable projects in the range of $100 million, respectively. Together, the two investors will use their leverage to seek potential co-investors contributing towards the remaining target.

The Investment Framework Agreement signed also marks the first investment agreement between INA and a Scandinavian entity that is well-known for its high economic, social, and governance (ESG) standards. IFU with its proven track record in the renewable energy value chain is a strong partner for Indonesia when it comes to the country’s green energy transition.

Furthermore, the agreement is in line with INA’s commitment to attract and partner with global investors to enable sustainable development in Indonesia. It also displays the trust and optimism to INA and Indonesia, not only in promoting green investments, but also in implementing world-class operations and governance.

“The deal marks another positive step to support Indonesia’s commitment in meeting its 2060 carbon neutrality pledge and we remain optimistic that not only will the agreement bring optimal returns for the parties involved, but also support and stimulate inclusive growth for Indonesia in the long run.”

Ridha Wirakusumah, CEO of INA

Torben Huss, CEO of IFU said, “Signing this agreement is another step in our effort to support the green transition. A partnership with INA provides a good platform for assisting private companies to engage in greening the Indonesian economy and enabling private investors to increase investments with a double bottom line – being profitable as well as reducing green house gas emissions. We are looking forward to a fruitful cooperation with INA and Indonesia.”

About Indonesia Investment Authority (INA)

The Indonesia Investment Authority is Indonesia’s sovereign wealth fund, mandated to increase investment to support the country’s sustainable development and build wealth for its future generations. INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia’s advantages and provide optimal returns.

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