Witnessed by President Prabowo and President Macron, PT SMI Explores the Potential for Financial Support Related to Hydrogen Utilization for Electrification
JAKARTA, Indonesia, May 28, 2025 /PRNewswire/ -- PT Sarana Multi Infrastruktur (Persero) ("PT SMI") reaffirms its commitment to accelerating the energy transition in Indonesia. PT SMI is exploring potential collaboration with PT Perusahaan Listrik Negara (Persero) ("PT PLN") and HDF Energy. The Memorandum of Understanding (MoU) for Exploring Financing Support Related to Hydrogen Utilization for Electrification, signed by the three parties, was announced directly in front of the President of the Republic of Indonesia, Prabowo Subianto, and the President of France, Emmanuel Macron, at the State Palace, Jakarta, on Wednesday, May 28, 2025. The President Director of PT SMI, Reynaldi Hermansjah, the President Director of PT PLN, Darmawan Prasodjo, and the Founder & CEO of HDF Energy, Damien Havard, who are the signatories of the MoU, were also present at the State Palace. The announcement of this MoU is one of the series of agendas during President Macron's bilateral visit to Indonesia.
Through this agreement, PT SMI further demonstrates its role in fostering collaboration with various parties on climate issues. "Today is a very important day for PT SMI, as our active role in the energy transition has been appreciated by President Prabowo and President Macron. This certainly motivates us even more to enhance our collaborative spirit in helping to address the impacts of climate change. We are interested in exploring support for this project due to several aspects, namely first, support for the implementation of new technology, specifically hydrogen in the energy transition aspect, then the project's location in Eastern Indonesia, which is a priority area for us, and the need for blended finance," said Reynaldi Hermansjah, President Director of PT SMI.
Through the newly signed MoU, PT SMI, PT PLN, and HDF Energy are ready to collaborate in developing Hydrogen on Sumba Island, East Nusa Tenggara. This project will also place Indonesia at the forefront of the Asia-Pacific region in the development of clean energy based on fuel cell technology, leveraging HDF Energy's specialization in hydrogen-to-power technology. HDF Energy is a French company that develops and operates hydrogen infrastructure, focusing on the development of power plants that can continuously generate electricity sourced from renewable energy and Megawatt-scale fuel cells.
This project is projected to reduce Greenhouse Gas (GHG) emissions by 711,946 tCO2e over 25 years of operation or an average of 28,478 tCO2e per year. In addition to environmental benefits, PT SMI also highlights the significant advantages of this project, especially for the socio-economic conditions of the surrounding communities in Sumba Island. "This project will provide access to clean and stable energy for more than 10 thousand households in Sumba, without any negative impact on the environment. Of course, this will benefit the community in providing their electricity needs for daily activities. Moreover, this project will also accelerate local economic growth, as it supports the local agriculture and tourism sectors, and creates new jobs, employing more than 100 workers during its construction and operational phases," added Reynaldi.
As of March 2025, PT SMI has financed 96 climate-related projects with a cumulative commitment of IDR 34.1 trillion and a project value of IDR 175.3 trillion. As many as 48 projects have been calculated, resulting in a potential avoided Greenhouse Gas (GHG) of 4.0 million tons of CO2-Equivalent and a potential Carbon Credit Equivalent of USD 14 million.
PT Sarana Multi Infrastruktur (Persero) ("PT SMI"), established on February 26, 2009, is a State-Owned Enterprise under the coordination of the Ministry of Finance, in the form of a Non-Bank Financial Institution (LKBB). PT SMI plays a role and has a mandate as an agent of sustainable development. PT SMI has 3 business pillars, namely Commercial Financing, Public Financing, and Advisory Service and Project Development.
PT SMI has various functions and unique products/features to support the acceleration of infrastructure development, which not only serves as infrastructure financing but also as an enabler through the implementation of the Government and Business Entity Cooperation (KPBU) scheme involving various financial institutions, both private and multilateral. PT SMI actively supports the implementation of Public Private Partnership (PPP) and encourages the acceleration of infrastructure development in the regions through regional loan products.
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