Minister Rini Invites Abu Dhabi Investors to Work on Renewable Energy Projects

INDUSTRY.co.id - Jakarta - PT Pembangkitan Jawa Bali (PJB) and Abu Dhabi-based renewable energy company, Masdar, are partnering for renewable energy projects in Indonesia.

The agreement focused on opening up partnership opportunities to realize renewable energy projects in Indonesia, signed by PT PJB President Director Iwan Agung Firstantara and Masdar CEO Mohamed Jameel Al Ramahi, and witnessed by Minister of SOE Rini M. Soemarno in the middle of a series of visits to the Middle East.

With this agreement, the subsidiary of PT Perusahaan Listrik Negara (Persero) will work with Masdar in identifying opportunities to help meet Indonesia's energy needs targeted at 23% renewable energy use in 2025 and 31% by 2050.

"We believe that this cooperation will bring success for the development and implementation of renewable energy projects in Indonesia," said President Director Iwan Agung Firstantara in a press release here on Monday (7/17/2017).

Currently, PT PJB manages more than 12 GW of power plants, starting coal, natural gas and hydro power plants. PT PJB will diversify its business into the clean energy market to meet the mixed targets of renewable energy in Indonesia and also contribute to efforts to reduce global carbon emissions.

While Masdar CEO, Mohamed Jameel Al Ramahi expects, can continue to develop good relations with PT PJB to help open up the potential of renewable energy in Indonesia.

"This is in line with our commitment to support the momentum of developing renewable energy globally," said Mohamed.

Over the past decade, Masdar has invested in renewable energy projects with a combined total value of US $ 8.5 billion in which the total investment of Masdar on those projects amounts to US $ 2.7 billion.

Renewable energy projects are scattered in various regions of the Middle East and North Africa, Britain, Spain, Seychelles and the Pacific Islands.

Masdar is a subsidiary of Mubadala Investment Company, a global investment company from Abu Dhabi.

In addition to attending the signing ceremony between PJB and Masdar, in Abu Dhabi, Rini Soemarno also met with Deputy Group CEO & Chief Executive Officer, Alternative Investments and Infrastructure Mubadala Waleed Al Mokarrab Al Muhairi, to explore potential investment cooperation in several infrastructure projects, Energy, connectivity, and fast train TOD.