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EU companies to invest up to $630 mln in renewable energy projects

JAKARTA ( – A number of EU companies have submitted proposals to invest in a number of renewable energy projects in Indonesia with a combined value of $630 million, the National Investment Coordinating Board Chairman Franky Sibarani said.
The renewable energy projects are in accordance with the government’s drive to reduce fossil fuel in the country and enlarge the use of renewable energy in energy mixed consumption.
Franky Sibarani said BKPM has received investment proposals valued at US$380 million from an Italian power company during his recent visit to Milan, Italy. The Italian company, he said, wants to build two power plants in Riau province, namely a $280 million worth of steam powered plant with a capacity of 250 MW and a geothermal power plant worth US$100 million with a capacity of 55 MW.

In addition, BKPM has also received an investment proposal from a United Kingdom company which is planning to build a 200 MW solar power plant with an estimated investment of US$250 million.

The BKPM chairman said in a statement that the investment board is now facilitating meetings for investors and representatives from the state electricity company PT Perusahaan Listrik Negara (PLN), the Energy and Mineral Resources Ministry and potential local partners.
“Currently, the investors are assessing potential areas for solar-powered electricity generators, such as North Sulawesi, West Kalimantan, South Kalimantan and East Kalimantan, as well as East and West Nusa Tenggara,” Franky Sibarani said. 
In the first half of this year, BKPM recorded 226 ongoing power plant investment projects worth $1.3 billion in Indonesia. Renewable energy accounts for 10 percent of the projects, including hydro-powered and geothermal generators.
U.S Ambassador Robert Blake noted that the US government plans to implement a $500 million program in Indonesia that will help catalyze investment in renewable energy, preserve carbon-rich primary forests and encourage sustainable forest management. (*)

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