Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of Indonesia's State-owned energy company Pertamina, has set ambitious targets for clean energy development by 2029. These targets include reaching 6 GW of installed capacity from gas-to-power and renewable energy sources such as geothermal, solar power, and biogas. Pertamina NRE also aims to produce 7,000 tons of hydrogen per year by 2029, in addition to bioethanol and battery production goals. The company posted a 6% revenue increase in 2023, reaching US$411.5 million, along with growth in electricity production and profitability. Operational performance in 2023 was marked by increased electricity production, high reliability of power plants, and strong HSSE performance. Pertamina NRE's achievements include a successful IPO by its subsidiary Pertamina Geothermal Energy, issuance of global green bonds, and becoming the first seller of carbon credits at the inaugural IDX Carbon trade.