Indonesia’s Pertamina announces $6.2 bln investment in clean energy
Indonesia’s state-owned oil company, Pertamina has announced that it will invest $6.2 billion over the next five years to expand its renewable energy development.
Indonesian energy giant Pertamina is developing its low-carbon business. Photo courtesy of Reuters.
The planned investments will be made through a subsidiary, Pertamina New & Renewable Energy (NRE).
A part of the investment will be used to expand its low-carbon electricity generation capacity to 6 GW from 2.6 GW, and to support clean hydrogen, bioethanol and electric vehicle batteries.
The NRE eyes to produce 7,000 tonnes of clean hydrogen each year by 2029.
Pertamina is a “strong arm” of the Indonesian government in realising the country’s ambition of carbon neutrality by 2060 or sooner.
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