Indonesia and Lithuania have on Wednesday (May 17) signed agreement for developing renewable energy and energy conversion. Both parties signed the memorandum of understanding (MoU) in President Palace, represented by Minister for Energy and Mineral Resources Ignatius Jonan and President of Lithuania Dalia Grybauskaite, witnessed by President Joko “Jokowi” Widodo. Lithuania has its success on developing biomass, making its market share more competitive. Lithuania implements efficient and transparant biomass exchange system, boosting the competitiveness and eliminating the prices differential. The average prices of biomass in Lithuania has dropped by 40% to 113 euro per ton in August 2016, from 193 euro in August 2012. While Indonesia targets its renewable energy to reach 23% market share by 2025.