Jakarta – Shares of issuers with new and renewable energy (NRE) businesses tended to close higher at the end of trading earlier this week, Monday, August 12.
Of the 8 shares of renewable energy issuers listed on the Indonesia Stock Exchange (IDX), 5 stocks strengthened. Meanwhile, 2 stocks stagnated and 1 stock weakened.
Shares of PT Arkora Hydro Tbk (ARKO) even shot up to 14.58% and became the stock of renewable energy issuers with the highest gain so far today. The strengthening was even far adrift of the stock with the second highest gain, namely PT Kencana Energi Lestari (KEEN), which strengthened 2.16%.
The increase in the shares of renewable energy issuers was in line with the strengthening of the energy sector index, which in today’s trading strengthened by 3.23%. And made the energy sector index lead the sectoral strengthening, and pushed up the Composite Stock Price Index (JCI) which strengthened 0.56% to 7,297.62.
Renewable energy stocks also strengthened, after the Ministry of Energy and Mineral Resources (MEMR) stated that the implementation of new renewable energy will be accelerated from the current plan.
Secretary General of the Ministry of Energy and Mineral Resources, Dadan Kusdiana, said that the acceleration includes the Renewables Bill, which is expected to become a comprehensive law to create a climate for sustainable NRE development.
In addition, the Draft Government Regulation on National Energy Policy (RPP KEN) is also being prepared. This is to encourage clean energy and green energy in Indonesia. To increase the competitiveness of the industry and the domestic economy.
The Ministry of Energy and Mineral Resources also cut the minimum local content requirement for solar power plants to 20% from around 40% previously. The aim is to open up investment in new renewable energy (NRE) projects, which get at least half of their funding from foreign multilateral or bilateral lenders. (hs)
