PNRE has completed process of restructuring in Pertamina group: CEO

14-Sep-2021 Intellasia | AntaraNews | 5:02 AM Print This Post

PT Pertamina New Renewable Energy (PNRE), subsidiary of state-owned oil and gas giant Pertamina, confirmed having completed restructuring in the Pertamina Group and expressed readiness to fulfill its duty of guiding the energy transition policy in Indonesia.

“PNRE is Pertamina’s future generation in realising energy transition, supporting national energy resilience, and realising a clean Indonesia in accordance with the government’s commitment within the Paris Agreement,” Chief Executive Officer of PNRE Dannif Danusaputro noted in his statement here on Monday.

In 2020, Pertamina conducted restructuring and mandated PT Pertamina Power Indonesia (PPI) to function as a sub-holding of PNRE.

PPI is a company project that focuses on the Steam and Gas Power Plant (PLTGU) Jawa-1.

PNRE is also in charge of Pertamina Geothermal Energy (PGE) as a subsidiary, and PT Jawa Satu Power (JSP) and PT Jawa Satu Regas (JSR) as affiliation companies.

Danusaputro highlighted four direct benefits of this restructuring process.

The first is the increased prospects of forging partnership to expedite the development of State-Owned Enterprises (SOEs) for producing renewable and new energy.

The second is to grant flexibility in terms of seeking competitive alternative funding, such as green financing and green bond, and unlocking the value of the company through initial public offering (IPO).

The third is to expedite the development of Pertamina’s renewable and new energy business portfolio by exploring hydrogen, electric vehicle ecosystem, and other businesses.

The fourth is the potential for synergy by absorbing experienced human resources in geothermal power plant project development and programme management for other power plants in PNRE.

Danusaputro stated that his group remained committed to supporting Pertamina’s target of reducing carbon emissions by 30 percent by 2030 by prioritising environment, social, and governance (ESG) in its business practices.

“With this transformation, we will become more focused in guiding energy transition, realising the Indonesia Green Energy Champion vision, achieving 10-GW installed capacity by 2060, and supporting Pertamina’s vision of becoming a global green energy company,” he affirmed.

https://en.antaranews.com/news/188845/pnre-has-completed-process-of-restructuring-in-pertamina-group-ceo

 

Category: Indonesia

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