Jakarta – Pertamina New and Renewable Energy (Pertamina NRE) is exploring the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) to fund the accelerated development of new renewable energy (NRE) projects, especially geothermal. This step was taken in line with the company’s ambition to accelerate the national energy transition towards more sustainable resources.
CEO of Pertamina NRE, John Anis, in an official statement, Tuesday, 11 March,
said that for the period 2029 to 2039, Pertamina NRE projects investment needs to reach USD 6 billion to support the development of various NRE projects. “That is still an initial projection and can change dynamically, depending on the situation and needs,” he added.
Although Pertamina NRE can fund renewable energy projects independently through various investment sources, the company still offers opportunities to obtain financial support from Danantara, especially if the project’s scope becomes wider.
“Funding can come from various parties. At the moment, we can still fund it ourselves, but if the project gets bigger, of course, we will apply for funding to Danantara,” said John.
He said geothermal is a top priority in the expansion plan because it is a reliable source of baseload energy throughout the day. “Geothermal can definitely be baseload, and we already have a capacity of 3 gigawatts,” said John.
According to him, geothermal energy is more reliable than other renewable energy sources because it does not depend on external factors such as sunlight or wind speed. “In comparison, hydrogen still has economic constraints, while solar panels depend on sunlight. Geothermal can operate 24 hours without interruption,” he explained.
In addition to geothermal, Pertamina NRE continues exploring various other renewable energy potentials, including nuclear power, which has now entered the feasibility study stage. This aligns with the company’s commitment to realising national energy security based on clean and sustainable energy.
With sufficient funding support and government policies that increasingly favour the energy transition, Pertamina NRE is optimistic that it can play a greater role in achieving the net zero emission target and accelerating the development of EBT in Indonesia. (Hartatik)
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