According to the Financial Times, Indonesia's sovereign wealth fund plans to invest up to longing $1 billion this year, making green energy one of its priorities. The country aims to become the epicenter of the energy transition with its vast nickel reserves. Eddie Povanto, chief financial officer of the Indonesian Investment Authority (INA), said the agency is negotiating potential investments in the EV ecosystem and geothermal energy, and is financing the early retirement of coal-fired power plants. He said the fund has invested $2.1 billion since its inception in 2021 and plans to invest between $500 million and $1 billion across all sectors this year. "Indonesia has the potential to become a regional or even global champion in the green economy of the future," he said. In addition to having the world's largest reserves of raw materials such as nickel, a metal used in batteries, Indonesia could also become a hub for electric vehicle production and carbon coins, he said. "We have been working with a number of strategic battery and electric vehicle companies, both within Indonesia and throughout Southeast Asia, to find investment opportunities. ”