Japan signs 70 MOUs on energy transition with partners

On Wednesday, Japan signed 70 Memorandums of Understanding (MOUs) with partners regarding energy transition on the sidelines Asia Zero Emission Community Ministerial Meeting in Jakarta.

The AZEC initiative was launched in 2023 by 11 countries, including Indonesia, Australia and Thailand, to share the same philosophy and work together in order to accelerate the energy transition.

Today 70 new MOUs are to be announced. METI made $1 billion available for 14 projects to provide new financial assistance through a partnership with Global South Support Scheme," Japan's Minister for Economy, Trade and Investment Ken Saito stated during the opening of AZEC Ministerial Meeting.

Saito stated that AZEC is working to establish a sustainable fuel market for the transportation sector to help achieve the energy transition in Asia.

Airlangga hartarto, Indonesia's Coordinating Minister of the Economy, said that cooperation should focus on improving regional power grids and investing in new energy, such as ammonia and hydrogen, while promoting sustainable fuels and "next generation vehicles".

Pertamina, Indonesia's state-owned energy company, and Toyota Tshuso signed a MOU on Wednesday to jointly develop green hydrogen and biofuels. The complete list of signed MOUs was not released immediately. (Reporting and editing by Michael Perry; Bernadette Cristina)

(source: Reuters)