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The Conversation
The Conversation
Freddie Daley, Research Associate, Centre for Global Political Economy, University of Sussex

Why the world’s most ambitious coal phase-out deal has failed – and what it means for climate finance

Coal Indonesia United States Electricity JETP

In December 2025, Indonesia quietly abandoned plans to close the Cirebon-1 coal power plant.

This was no ordinary power plant. Cirebon-1 was supposed to be the centrepiece of a US$21.4 billion (£16.5bn) international deal backed by the US, UK, Japan and the EU to help Indonesia end coal use.

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