Pertamina NRE and Masdar Sign Renewable Energy Cooperation Agreement in Indonesia and Internationally

Nusa Dua, Bali, May 22, 2024 – Pertamina NRE and Masdar signed a memorandum of understanding for solar power plants (PLTS) and wind power plants (PLTB) development in Indonesia and other potential countries on Tuesday (21/5).

The signing was conducted by the CEO of Pertamina New & Renewable Energy (Pertamina NRE), John Anis, and the Director of Development and Investment of Masdar, Abdulla Zayed. The signing was witnessed by the Coordinating Minister for Maritime Affairs and Investment of the Republic of Indonesia, Luhut Binsar Panjaitan, the Minister of Energy and Infrastructure of the United Arab Emirates (UAE), Suhail Mohammed Faraj Al Mazroui, the Director General of New, Renewable Energy, and Energy Conservation of the Indonesian Ministry of Energy and Mineral Resources, Eniya Listiani Dewi, the UAE Ambassador to Indonesia, Abdulla Salem Al Dhaheri, the Indonesian Ambassador to the UAE, Husin Bagis, and the President Director of Pertamina, Nicke Widyawati.

The President Director of Pertamina, Nicke Widyawati, stated that Pertamina encourages all its subsidiaries to cooperate with partners based on mutually beneficial principles.

"With this collaboration, Pertamina NRE, as the spearhead of renewable energy development at Pertamina, can open many opportunities to be more expansive and go global," said Nicke.

"Building on the good cooperation established previously, we will expand the scope of cooperation between the two parties. We have complementary competencies, and this is expected to open up broader access on a global scale," said the CEO of Pertamina NRE, John Anis, at the same event.

"The UAE continues to demonstrate its commitment to advancing the energy sector in Indonesia, particularly focusing on renewable energy development. In line with the UAE Consensus at COP 28, Masdar is committed to building partnerships that can generate transformative solutions to create access to clean energy. The joint efforts of Masdar and Pertamina NRE will be a catalyst for investment in green hydrogen, solar power, and wind power, positioning Indonesia as a regional leader in the global energy transition," said Mohamed Jameel Al Ramahi, CEO of Masdar.

The Memorandum of Understanding between Pertamina NRE and Masdar includes conducting feasibility studies in PLTS and PLTB development, as well as the potential for power-to-hydrogen. The scope is not only limited to Indonesia but also includes other countries. This memorandum is valid for one year.

Pertamina NRE and Masdar already have a favorable relationship, with Masdar investing in PT Pertamina Geothermal Energy Tbk (PGE), a subsidiary of Pertamina NRE. The UAE and Indonesia share a common vision of sustainable development, one aspect of which is through renewable energy development.

John further stated that this strategic collaboration is expected to be one of Pertamina's contributions to support the government in achieving the net zero emission target by 2060.

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, added that PNRE's role in developing clean energy-based power plants is part of an emissions reduction initiative.

"Energy transition initiatives and efforts to reduce emissions are Pertamina's commitment to energy sustainability in the future. This follows PNRE's significant role in the energy transition," concluded Fadjar.

Currently, Pertamina is implementing a dual growth strategy by strengthening its existing business and building low-carbon, cleaner, sustainable energy businesses, which will be Pertamina's future business.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social, and Governance (ESG) implementation across all Pertamina's business lines and operations.**