Caterpillar signs MoU on 500 Island Project

By Ruli Setiawan

NYSE-listed Caterpillar Inc. signed on Tuesday a MoU with Fluidic Inc., a leading manufacturer of energy storage systems, and Indonesia?s state-owned electricity company PT Perusahaan Listrik Negara (PLN), which will see the three companies provide reliable and renewable based electricity to 500 remote villages and islands, utilizing more than 35MWp of photovoltaic panels and in excess of 250MWh of energy storage.

The signing of the MoU was witnessed by Indonesian President Joko Widodo during his US visit.

Caterpillar said in a statement that the ?500 Island Project? as it?s referred to, will provide electricity to more than 1.5 million people, which ?we believe would be considered one of the most ambitious rural electrification projects in the world, and will help the Indonesian Government achieve its ambitious rural electrification targets faster than otherwise possible.?

In addition to the 500 Island Project, the heavy equipment maker also announced its intention to invest in remanufacturing capabilities in Indonesia. Caterpillar has been a leader in remanufacturing, which returns products at the end of their lives to same-as-new condition.

?This not only helps reduce owning and operating costs by providing our customers same-as-new quality at a fraction of the cost of a new part, but also benefits the environment by finding new ways to reduce, reuse, recycle and reclaim materials,? the company said.

Editing by Reiner Simanjuntak