During a Tuesday meeting, Pertamina NRE's risk management director, Iin Febrian, announced a target of US$2.1 billion in business revenue by 2029, a fivefold increase from the current figure.
This ambitious goal encompasses expanding production in various clean energy sources, including hydrogen, geothermal, gas, solar, wind, and biomass.
By 2029, Pertamina NRE plans to boost hydrogen production to 77.1 kilotons per year, battery production to 51.5 GWh, and geothermal power plant capacity to 1.4 GW.
Additionally, the company seeks to increase electricity generation from gas to 3.8 GW, solar to 1.3 GW, wind to 58 megawatts (MW), biomass to 33 MW, and bioethanol production to 840 thousand kiloliters.
Carbon credit sales are also targeted to reach 19.2 million tons of CO2 equivalent.
Febrian acknowledged several challenges hindering renewable energy development in Indonesia, including limited funding, technology gaps, early-stage investment, capacity building, and insufficient regulatory support.
Currently, the absence of specific renewable energy laws poses a significant obstacle.
The government has set a new and renewable energy target of 23 percent for next year, but the current figure stands at 13.09 percent.
To address this, the government is drafting a New and Renewable Energy Bill aimed at creating a conducive environment for sustainable renewable energy development.
Presidential Regulation Number 112 of 2022 has already been issued to accelerate new and renewable energy development, including provisions for phasing out coal-fired power plants.
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Translator: Shofi Ayudiana, Raka Adji
Editor: Aditya Eko Sigit Wicaksono
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