Indonesian Giant Pertamina's $6.2 Billion Investment in Clean Energy and Technology
Key Ideas
- Indonesian energy company Pertamina plans to invest $6.2 billion in clean energy and technology over the next five years.
- The investments will focus on hydrogen, electric vehicle batteries, and other low-carbon business opportunities.
- Pertamina aims to strengthen its oil and gas business while developing a low-carbon sector as a key growth driver for the future.
Indonesian state oil and gas giant, Pertamina, has announced its ambitious plan to invest $6.2 billion in clean energy and technology businesses over the next five years. The company's strategy involves strengthening its existing oil and gas operations while venturing into low-carbon business initiatives to drive future growth. The investments will be channeled through a subsidiary named Pertamina New & Renewable Energy. Pertamina's focus areas for investment include hydrogen, electric vehicle batteries, and other technologies related to clean energy. By diversifying into these sectors, Pertamina aims to position itself as a key player in the transition towards cleaner energy sources. This move reflects a positive outlook towards sustainability and innovation within the Indonesian energy sector, signaling a proactive approach towards addressing environmental concerns and embracing technological advancements.