Pertamina Allots US$11bn for New and Renewable Energy Programs

30 September 2022 18:25 WIB

TEMPO.CO, JakartaState-owned oil and gas company PT Pertamina allocated US$11 billion in capital expenditures to accelerate the new and renewable energy programs. The spending is targeted to run for the next five years until 2026.

"The budget has been so far for installing solar power plants [PLTS] in 400 locations throughout Indonesia," said the company's director of strategic planning and business development, Fadil Rahman, at the Indonesia Millenial and Gen-Z Summit held by IDN Media at The Tribrata Dharmawangsa, South Jakarta, Friday, September 30, 2022.

The construction of the solar power plants was planned to be completed in 1.5 years.

In addition, the budget will be used to strengthen the use of geothermal technology and develop electric vehicles (EV) and battery ecosystems. The company has also collaborated with several partners to launch a pilot project to support acceleration for electric motors in Bali two months ago.

Previously, the company’s SVP strategic investment Daniel Purba said Pertamina targeted an increase in the new and renewable energy mix from one percent in 2021 to 17 percent in 2030 and to reduce carbon emissions by 30 percent in 2030.

"Pertamina's commitment is in line with efforts to use domestic resources to supply energy in the country towards the development of clean energy and decarbonization," Daniel remarked.

MOH. KHORY ALFARIZI

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