Luhut’s company will invest in renewable energy of Rp. 14.3 T

Jakarta, CNN Indonesia

PT TBS Energi Utama Tbk (TOBA) will invest nearly US$1 billion or around Rp. 14.3 trillion (assuming an exchange rate of Rp. 14,300 per US dollar) for the development of new renewable energy (EBT) and digital infrastructure.

“We will invest nearly US$1 billion from our internal cash flow over the next four years,” said TOBA Deputy President Director Pandu Patria Sjahrir in the webinar ‘The Future of Mobility in a Net-Zero World’, Wednesday (16/3).

He claims that investment for NRE development is necessary. Pandu emphasized that his party is also committed to realizing the target of zero net emissions, which is 2050-2060.

Then, the company whose shares are owned by the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan will invest in digital infrastructure development because the sector has good potential.

“Digital infrastructure is currently the fastest growing market in Indonesia,” said Pandu.

He said that over the past seven years, the technology sector in Indonesia has also continued to grow. According to him, the state has also been able to adopt technology well.

Furthermore, Pandu said that his party had also collaborated with GoTo to develop electric motorcycles.

The two companies also established a joint venture (joint venture), Electrum. The business was specifically formed to build an electric motorcycle ecosystem in the country.

With this cooperation, both parties will disburse funds of US $ 1 billion or around Rp. 16 trillion-Rp 17 trillion in the next 5 years. However, for the initial stage the funds disbursed amounted to US $ 10 million.

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The joint venture, Gojek and TBS, will develop business businesses in the manufacturing of two-wheeled electric vehicles, battery packaging technology, battery exchange infrastructure, and financing for electric vehicles.

[Gambas:Video CNN]