Japan has signed 70 memoranda of understanding (MOUs) on energy transition with various partners during the Asia Zero Emission Community (AZEC) ministerial meeting in Jakarta.
The AZEC, proposed by Japanese Prime Minister Fumio Kishida in 2022 and officially launched by 11 countries including Indonesia, Australia, Vietnam, and Thailand in 2023, aims to promote decarbonisation in Asia and foster cooperation in the energy transition.
“Today 70 new MOUs will be announced. For 14 of the projects, METI has made available $1 billion to provide new financial support through a project in partnership with the global South support scheme,” said Japan’s Minister of Economy, Trade and Investment Ken Saito at the opening of AZEC ministerial meeting.
Saito emphasised that AZEC aims to establish a sustainable fuel market for the transportation sector as part of its broader energy transition goals for Asia.
Indonesia’s Coordinating Minister of Economic Affairs, Airlangga Hartarto, highlighted the need for cooperation in enhancing regional power grids, investing in new energy sources such as hydrogen and ammonia, and promoting “next-generation vehicles” and sustainable fuels.
Among the MOUs signed was a collaboration with Toyota Tsusho to develop biofuels and green hydrogen in partnership with Indonesia’s state energy company, Pertamina. The complete list of MOUs signed has not yet been released.