Norway Agrees to Buy Indonesian Solar Carbon Credits
A deal signed at COP31 in Turkey would see Norway purchase up to 12 million metric tons of credits from Indonesian solar projects.
Updated on Nov. 12, 2026 in Energy
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Norway has agreed to buy up to 12 million metric tons of carbon credits generated by solar power projects developed by Indonesia's state-owned utility, Perusahaan Listrik Negara. The deal was signed on the sidelines of the COP31 United Nations climate meeting in Turkey.
Why it matters
The agreement operates under Article 6.2 of the Paris Agreement, which lets countries transfer emissions reductions to one another as credits through bilateral arrangements. Indonesia could gain a sustainable financing mechanism for its energy transition.
Norway may purchase up to 12 million metric tons of credits, valued at $20 to $40 per ton of CO2e. The final volume, payment timing and delivery schedule have not been disclosed.
The players
Perusahaan Listrik Negara
Indonesia's state-owned electricity utility, which developed the solar power projects generating the carbon credits.
The details
The carbon credits come from solar projects developed by Perusahaan Listrik Negara, Indonesia's state-owned utility. The deal was signed on the sidelines of COP31 in Turkey and was announced by the Indonesian government in Jakarta on November 12, 2026.
Timeline
November 12, 2026: Indonesian government announces the Norway carbon credit deal in Jakarta.
Season Trajectory
The agreement applies the bilateral crediting mechanism created under Article 6.2 of the Paris Agreement to a concrete purchase between Norway and Indonesia. It shows how countries are beginning to use international carbon markets to fund clean energy projects in developing economies.
The deal channels international money into Indonesian solar generation, which could support the country's clean energy buildout. Consumers are not directly affected by the transaction, which concerns government-to-government emissions accounting.
The takeaway
International carbon credit deals can give developing countries a funding route for renewable energy without relying solely on domestic budgets. Watch how Article 6.2 agreements are priced and verified as more countries adopt them.
Further reading
For more on how countries are financing clean energy transitions, explore the Energy section.
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Should your country use carbon-credit deals with other nations to fund its energy transition?
