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November 13, 2024 | 01:30 pm
TEMPO.CO, Jakarta - Indonesian state-owned oil and gas corporation Pertamina will allocate 8 percent of its total investment until 2029 to the development of new and renewable energy. This amount is equivalent to US$5.7 billion or around Rp88.29 trillion (with an exchange rate of 15,490.95 per US dollar).
The CEO of Pertamina New & Renewable Energy (Pertamina NRE), John Anis, said the new and renewable energy will encompass geothermal, bioethanol, green hydrogen, solar energy, wind energy, biomass energy, batteries, and carbon business.
"Pertamina readies a quite significant amount of investment to develop new and renewable energy. It’s part of Pertamina’s strong commitment to support Indonesia's nationally determined contribution. We believe that breakthroughs are needed to support remarkable targets," he said at the Indonesia Pavilion COP29 in Baku, Azerbaijan, quoted through an official statement on Wednesday, November 13, 2024.
John mentioned that this investment aims to drive Pertamina's low-emission business growth while supporting Indonesia's target of achieving net zero emissions by 2060. Pertamina has four ambitious targets until 2029.
Some of the targets include selling 60 million kiloliters (KL) of biofuel, producing 5.5 million KL of petrochemicals, developing a geothermal installed capacity of 1.4 gigawatts (GW), and reducing emissions by 1.5 million tons of CO2 equivalent through CCS/CCUS technology.
"Pertamina has initiated the biofuel implementation by publicly distributing biodiesel products since 2015," he said.
"Pertamina, through its subsidiary Pertamina NRE, also collaborates with PT Sinergi Gula Nusantara to initiate the construction of a bioethanol plant in Banyuwangi with a production capacity of 30 thousand KL per year," John added.
In the geothermal sector, Pertamina strives to double its current installed capacity of 672 MW by 2029.
Pertamina also supports net zero emission targets by successfully reducing 8.5 million tons of CO2 from 2020 to 2023 and reducing 32.7 million tons of CO2 equivalent from biofuel implementation last year.
VP Corporate Communication of Pertamina Fadjar Djoko Santoso claimed that Pertamina is committed to strengthening Indonesia's role in the global fight against climate change. This move lines up with the company's clean energy roadmap, which continues to drive various innovative steps to realize a more energy-sustainable future.
"We want to be a pioneer in energy transition, make a real contribution to sustainability efforts, and be a catalyst for Indonesia in achieving a greener energy future," said Fadjar.
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