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Indonesia’s Pertamina announces 6.2-billion-USD investment in clean energy

Indonesia’s state-owned oil company, Pertamina, announced on June 21 that it will invest 6.2 billion USD over the next five years to expand its renewable energy development.

Jakarta (VNA) - Indonesia’s state-owned oil company, Pertamina, announced on June 21 that it will invest 6.2 billion USD over the next five years to expand its renewable energy development.

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./.

VNA
#Pertamina #renewable energy development #low-carbon electricity #electric vehicle batteries #clean hydrogen Indonesia
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