PT TBS Energi Utama (TOBA) has allocated around US$600 million (Rp10.05 trillion) in capital expenditure until 2030 to fund a portfolio of renewable-energy and green-business projects.

PT TBS Energi Utama (TOBA) is an integrated energy company from Indonesia engaged in coal mining, palm oil plantations, and power generation, and is now focused on transforming towards green energy through the divestment of coal-fired power plants and the development of renewable sectors such as waste and electric mobility.

The company has officially transformed into a sustainability-focused enterprise, with three core pillars: waste management, renewable energy, and electric vehicles. TOBA, previously known for its coal-mining business, aims to fully exit coal operations by 2030 or earlier.

TOBA President Director, Dicky Yordan, said the transition is an extension of the company’s TBS2030 roadmap, launched in 2021 to achieve carbon neutrality.

“This is not merely a rebranding. It reflects TBS’s long journey toward becoming a sustainability-driven company. We are entering a new phase ‒ strengthening synergy across business units and delivering green solutions that create economic and social value,” he said on Wednesday, November 12, 2025.

Juli Oktarina, Director at TBS Energi Utama, confirmed that the company still has coal assets, but reserves are expected to be depleted within two years. The firm has prepared a formal transition plan, including mine-closure procedures in accordance with regulations.

She said the US$600 million capital expenditure aligns with the TBS2030 roadmap and will be directed toward several renewable-energy projects currently under assessment, though details were not disclosed.

The company is also reviewing new waste-management projects across the region to determine which initiatives will be prioritized.

Over the past three years, TBS has expanded significantly in the waste-management sector through the acquisition of Asia Medical Enviro Services (AMES) and ARAH Environmental Indonesia, strengthening its capabilities in medical, industrial, and household waste handling. The company also acquired Sembcorp Environment Pte. Ltd. in Singapore ‒ now rebranded as CORA Environment ‒ to expand its regional waste-management footprint.

In renewable energy, TBS has been operating a 2×3 MW micro-hydro power plant in Lampung since January 2025. Its 46 MWp Tembesi Floating Solar Power Plant project in Batam, developed with PLN Nusantara Power, is currently under construction and targeted for full operation by mid-next year.

In the electric-vehicle sector, TBS ‒ through its Electrum subsidiary ‒ is advancing an integrated EV ecosystem, including vehicle assembly, battery technology, battery-swap infrastructure, and green financing.

“These initiatives support Indonesia’s energy transition and unlock new economic opportunities for thousands of drivers,” Juli said.