Pertamina seeks partners to boost renewables energy production

Petromindo

State-owned oil and gas firm PT Pertamina will seek to form partnerships with established renewables energy developers as the company aims to boost production of the green energy.

Pertamina President Director Elia Massa Manik said on Tuesday that the company needs to expand its renewables energy production in anticipation of declining oil and gas reserves in the country.

However, as Pertamina has long been more focused on the oil and gas sector, the company will seek partners or invest in established renewables developers as part of efforts to boost its production of the renewables energy, which he describes as energy of the future.

?To realize (the renewables ambition) we could not start from zero. That?s why we?re interested to form partnerships,? he said at the Pertamina Energy Forum 2017 on Tuesday, but did not provide further details.

Pertamina through subsidiary PT Pertamina Geothermal Energy (PGE) has long been engaged in the development of geothermal power plants with current total installed capacity of 587 MW.

Meanwhile, Pertamina Director of Gas Yenni Andayani said in a statement that the company is currently making business transformation process to increase its focus on renewables such as hydro, wind and solar, bio jet fuel, and bioethanol.

She said that the move to expand its renewables business is also made to help the government realize its target for renewables to account for 23 percent of the energy mix in 2025.

Editing by Reiner Simanjuntak