On March 12, 2021, INGINE was selected to receive financial support from the Korea Environmental Industry & Technology Institute (KEITI) to strengthen Indonesia project development and facilitate Green Climate Fund (GCF) financing.
INGINE has been developing a 10MW Sustainable Wave Energy project in Indonesia since August 2018, working with Indonesian and Korean stakeholders to apply for the Project Preparation Facility (PPF) of the Green Climate Fund (GCF). Indonesia, as the world’s largest archipelago with more than 17,500 islands, is ideally suited for the deployment of wave energy. Threatened by global warming, the country is also one of the world’s largest greenhouse gas (GHG) emitters. The Indonesian climate change response includes the development of alternative renewable energy sources in order to reach the Nationally Determined Contribution (NDC) to emissions reduction.