#BUMN
Government to close troubled state-owned enterprises
The Indonesian government plans to shut down several problematic state-owned enterprises (SOEs), including State-owned construction company PT Amarta Karya, following comprehensive assessment conducted throughout 2023.
MIND ID enhances renewable energy consumption to 18.25 gigajoules in 2023
MIND ID, Indonesia's state-owned mining holding company, has reported a significant increase in its renewable energy consumption to 18.25 Gigajoules (GJ), equivalent to 5,068 Gigawatt hours (GWh) in 2023, reflecting a 6.55 percent rise compared to the previous year.
PGE seeks investors in green energy
PT Pertamina Geothermal Energy, a subsidiary of State oil and gas company PT Pertamina, is seeking sustainable relationship with strategic stakeholders, particularly investors, to promote clean energy.
KPI open for partnership in green refinery development
PT Kilang Pertamina Internasional (KPI), a subsidiary of State oil and gas company PT Pertamina, is opening the opportunity for investors and strategic partners to develop environmental friendly green refineries.
PLN to supply green energy to global fashion company H&M Group
State electricity company PT PLN has sealed an agreement to supply green energy of 210 Gigawatt hour (GWh) per year to the global fashion company, H&M Group. Through this collaboration, PLN supports decarbonization measures, especially in the country's industrial sector.
Pertamina NRE increases investment, sets target of 6 GW installed capacity by 2029
Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of State-owned energy company Pertamina, has set a target of 6 GW of installed capacity of clean energy-based power plant development by 2029.
Pertamina encourages access to green funding through sustainable finance framework
State oil and gas company PT Pertamina launched a Sustainable Finance Framework, aimed at ensuring the company's sustainability efforts are integrated into the company's funding strategy, allowing Pertamina and/or Pertamina's Subholdings/Subsidiaries to access funding for green projects and energy transition projects.
PLN committed to hydrogen ecosystem development in Indonesia
State electricity company PT PLN is pioneering the development of the hydrogen ecosystem in Indonesia, citing its commitment to support energy transition in the country. PLN President Director Darmawan Prasodjo said that PLN is fully committed to the development of hydrogen in Indonesia. This is in line with PLN's commitment to support the energy transition in Indonesia.
Energy ministry supports Pertamina's acquisition of Brazilian bioethanol company
The Ministry of Energy and Mineral Resources (ESDM) backs State oil and gas company PT Pertamina's plan to acquire a Brazilian bioethanol company as a strategic move to foster the bioethanol market in Indonesia.
Forbes names BRI the largest company in Indonesia
The Indonesian state-owned company Bank Rakyat Indonesia (BRI) has once again secured its position as the largest company in Indonesia, according to the Forbes Global 2000 list for this year, with a total of nine Indonesian companies making it onto the list.
PLN secures global funding forelectrification, renewable energy development
State electricity company PT PLN has secured a lending facility from a consortium of the World Bank, Canada Clean Energy & Forest Climate Facility and Clean Technology Fund amounting to US$581.5 million for increased access to electrification in the country, energy transition programs and the company's digitization.
Pertamina books US$ 4.77 billion profit in 2023
State energy company PT Pertamina recorded positive performance in 2023, booking a total profit of US$ 4.77 billion (Rp 72.7 trillion), an increase by 17 percent from 2022, and its earnings before interest, tax, depreciation and amortization (EBITDA) at US$14.36 billion, a six-percent increase from the 2022 figure.