16 Cooperation Agreements Signed at SOE Conference

The State-Owned Enterprise (SOE) International Conference, a side event of the Indonesian G20 Presidency in Nusa Dua, saw the signing of sixteen cooperation agreements on the final day of the conference, according to Antara News.

Deputy Minister of SOEs I, Pahala Mansury, said that sixteen agreements were signed in one day, “in the energy sector, for example, one of the most important was between PLN (state electricity company) and PT Bukit Asam (PTBA),” he said at the SOE international conference press briefing in Nusa Dua, Bali.

The two enterprises will explore the possibility of pursuing the completion or retirement of the coal-fired power plant owned by PLN and investing in PTBA, he added.

PLN has also signed a cooperation agreement with PT Sarana Multi Infrastruktur (Persero) or SMI on blended financing for the energy transition mechanism (ETM), claim Antara News.

“We expect that this can be a model, and this shows the commitment of Indonesia, especially SOEs, in showcasing that SOEs, and Indonesia too, are also very serious in ensuring that we will also enter an energy transition period. We are exploring as many possibilities as possible for that and we see one of them must be done and cannot be done alone,” Mansury remarked.

Another cooperation agreement was signed by Pertamina Power and Krakatau Steel and IGNIS Energy Holdings. IGNIS is a company that has the technology to produce green hydrogen.

“So far, one of the products needed to produce steel is hydrogen. This is also what we are trying to do; that is not just any hydrogen, but green hydrogen, which we will develop there,” he informed.

Yet another cooperation agreement was inked in the medical sector between Kimia Farma and IHH, a health group with presence in Singapore and Malaysia. The two will develop a diagnostic test center that is currently owned by Kimia Farma.

The deputy minister further said that cooperation on voluntary carbon credit trading was also signed at the conference.

Each SOE produces carbon credits. Currently, the ministry is carrying out what is called voluntary carbon credit trading.

“We are just testing it, but at least we have signed a Letter of Intent (LOI). We will gauge one SOE with another. How to make it so that if the one with carbon credit, for example, Perhutani, (that has credit) can be bought by another SOE or a subsidiary of another SOE that really needs it. The carbon credit is to achieve the emission reduction target,” he elaborated.

Source: Antara News

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