Indonesia's Pertamina Invests Billions in Renewable Energy Expansion
Key Ideas
  • Pertamina, Indonesia's state-owned oil company, will invest 6.2 billion USD in renewable energy development over the next five years.
  • The investment will be channeled through its subsidiary, Pertamina New & Renewable Energy, to expand low-carbon electricity generation capacity to 6 GW and support clean hydrogen, bioethanol, and electric vehicle batteries.
  • Pertamina aims to produce 7,000 tonnes of clean hydrogen annually by 2029, contributing to Indonesia's goal of achieving carbon neutrality by 2060 or sooner.
  • This initiative showcases Pertamina's commitment to sustainable energy practices and aligns with Indonesia's broader efforts towards reducing carbon emissions and promoting green technologies.
Indonesia’s state-owned oil company, Pertamina, has revealed its ambitious plan to invest 6.2 billion USD in renewable energy development over the next five years. This substantial investment will be funneled through Pertamina's subsidiary, Pertamina New & Renewable Energy (NRE), signaling the company's commitment to expanding its low-carbon business initiatives. The primary focus of the investment will be on increasing the low-carbon electricity generation capacity from 2.6 GW to 6 GW while also supporting advancements in clean hydrogen, bioethanol, and electric vehicle batteries. Pertamina's NRE has set a target to produce 7,000 tonnes of clean hydrogen annually by 2029, demonstrating its dedication to environmentally friendly energy solutions. Furthermore, Pertamina's efforts align with Indonesia's national goal of achieving carbon neutrality by 2060 or potentially earlier. This strategic move positions Pertamina as a key player in Indonesia's transition towards sustainable energy practices, emphasizing the importance of reducing carbon emissions and embracing green technologies for a more environmentally conscious future.
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