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Pertamina NRE, the renewable energy subsidiary of Indonesia's state oil company, helps young farmers set up solar panels to supply electricity to their orchards. (Photo: Pertamina)
Amid the growing global demand for decarbonization, Indonesia’s state-owned oil company, Pertamina, announced on June 21 that it will invest $6.2 billion over the next five years to expand its renewable energy development. This investment aims to increase the capacity of existing solar and biogas power generation to 6 GW, and to support clean hydrogen, bioethanol, and electric vehicle batteries. Additionally, the company plans to sell 1,920 tons of carbon credits.
