Latest news with #AstaCita
Yahoo
4 days ago
- Business
- Yahoo
RGE and TotalEnergies to develop solar PV plant with BESS in Indonesia
Royal Golden Eagle (RGE) has entered into a co-investment agreement with TotalEnergies to develop a utility-scale solar photovoltaic (PV) power plant coupled with a battery energy storage system (BESS) in Riau Province, Indonesia. The agreement was signed through RGE and TotalEnergies' equally-owned joint venture, Singa Renewables. The solar PV project will be constructed in phases. It is expected to supply substantial green energy for domestic use, particularly to power green industrial complexes within Riau Province. This aligns with Indonesia's goals of stimulating economic growth and reducing carbon emissions in critical sectors. The project will also facilitate the export of clean solar energy to Singapore, thereby contributing to regional energy cooperation and renewable energy initiatives. The project also aligns with broader Association of Southeast Asian Nations (ASEAN) objectives of fostering cross-border clean energy collaboration and energy integration. RGE managing director Imelda Tanoto stated: 'We are taking meaningful steps to advance regional connectivity and contribute to the acceleration of the energy transition in the region. 'Our co-investment agreement reflects our strong alignment with Indonesia's National Transformation Strategy (Asta Cita) – supporting green energy self-sufficiency and its bio-based resources industry through high-value-added services. 'We aim to unlock long-term economic value for Indonesia by driving investment, developing Indonesia's solar energy value chain and creating skilled expertise in renewables.' The project aims to establish Indonesia as a key player in the global renewable energy market by creating skilled jobs in renewables, BESS, engineering and grid integration, and enhancing the country's capabilities in the solar and energy storage supply chain. TotalEnergies Asia president and executive committee member Helle KRISTOFFERSEN stated: 'Our utility-scale project underscores TotalEnergies' commitment to supporting the region's energy transition efforts, while ensuring energy security. This project aims to drive the development of regional renewable energy infrastructure and advance the ASEAN Power Grid vision.' In April 2025, TotalEnergies acquired three renewable energy portfolios across Europe, Africa and North America. "RGE and TotalEnergies to develop solar PV plant with BESS in Indonesia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Pertamina signs domestic swap agreement to meet Indonesia's natural gas requirements
Indonesia's state-owned energy company, Pertamina, has initiated a gas swap scheme to address the country's natural gas demands, in line with directives from special government task force SKK Migas. The agreement involves Pertamina and partners from the West Natuna Group Supply Group, gas suppliers from Corridor Block and Jabung (South Sumatra block), and Singaporean companies Sembcorp Gas and Gas Supply, as well as domestic buyer Perusahaan Gas Negara. The deal was signed at the 49th Indonesian Petroleum Association Convex on 21 May 2025. The scheme is a strategic response to the dual challenge of declining natural gas supplies in Sumatra and rising domestic demand, particularly within the electricity and industrial sectors. It will be implemented by designating a portion of the export volume to satisfy domestic demand. Pertamina president director Simon Aloysius Mantiri said: 'The gas swap scheme will guarantee the availability of domestic gas to drive national economic growth according to the targets set by the Government. 'This effort is made by Pertamina to support President Prabowo's Asta Cita vision, where the certainty of domestic energy supply will maintain national energy security.' Mantiri noted that the gas swap arrangement will contribute to the enhancement of the domestic gas supply by offering an alternative means of securing natural gas for local consumption. Pertamina also announced the signing of a production sharing contract with SKK Migas by its subsidiary Pertamina Hulu Energi, in collaboration with consortium partners Petronas Energy Binaiya and EO Binaiya, for the Binaiya Working Area (WK) offshore eastern Indonesia. This agreement is a part of the government's initiatives to boost investment in the energy sector, particularly in oil and gas, to enhance energy security and promote sustainable economic growth. In a related development, Pertamina disclosed in November 2024 its evaluation of potential liquefied natural gas (LNG) projects in the Philippines, initially focusing on LNG transportation and storage, with potential expansion into exploration, production and distribution. "Pertamina signs domestic swap agreement to meet Indonesia's natural gas requirements" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
17-05-2025
- Business
- The Star
Indonesia and Australia strengthen defence collaboration and expand market access for both countries
Indonesian President Prabowo Subianto (right) and Australian Prime Minister Anthony Albanese attend a joint press conference at the Merdeka Palace in Jakarta on May 15, 2025. -- Photo by BAY ISMOYO / AFP JAKARTA (Vietnam News/ANN): Indonesian President Prabowo Subianto and Australian Prime Minister Anthony Albanese have agreed to strengthen cooperation in the field of defence and expand market access for Indonesia's micro-, small-, and medium-sized enterprises (MSMEs). Speaking at a joint press conference in Jakarta, President Prabowo emphasised that Australia is not only a neighbouring country but also a strategic partner of Indonesia. As such, several agreements signed across various sectors will continue to be implemented. In the field of defence, Indonesia is committed to finalising the ratification process of the defence cooperation agreement that was agreed upon last year, and continuing discussions on ways to improve and enhance collaboration in this area, he said. On the economic front, the President encouraged stronger cooperation in trade and investment, and called for Australia's participation in strengthening Indonesia's agriculture and fisheries sectors, and MSMEs. He expressed his hope that Indonesia's fruits and aquatic products will increasingly meet international market standards, including those of Australia. Inviting Australia to engage more deeply in economic cooperation amid current global uncertainties, the Indonesian leader stressed that in today's volatile global economic environment, the relationship between Indonesia and Australia is becoming increasingly important and will bring greater benefits to both countries and their peoples. The two leaders also discussed opportunities for cooperation in food security, energy transition, critical minerals, and the development of the electric vehicle ecosystem. Notably, President Prabowo emphasised that his government will pursue the implementation of bilateral commitments, including the finalisation of the 2025–2029 Action Plan of the Indonesia – Australia Comprehensive Strategic Partnership Agreement. This plan aligns with Indonesia's transformational vision 'Asta Cita' and Australia's South-East Asia Economic Strategy to 2040. - Vietnam News/ANN
The Star
14-05-2025
- Business
- The Star
Sultan of Brunei highlights Brunei-Indonesia's enduring ties and shared aspirations
Sultan Hassanal delivers the titah as Prabowo looks on. Also in the photo is His Royal Highness Prince 'Abdul Malik. - Photo: Borneo Bulletin/ANN BANDAR SERI BEGAWAN: His Majesty Sultan Hassanal Bolkiah, Sultan and Yang Di-Pertuan of Brunei Darussalam, expressed his warm welcome to Indonesian President Prabowo Subianto during a State Banquet held in his honour at Istana Nurul Iman on Wednesday (May 14). The visit by Prabowo, described by the Ruler as 'highly meaningful,' marks the first official state visit by the newly appointed 8th President of Indonesia — a longstanding friend of Brunei — to the country. Sultan Hassanal expressed confidence that under Prabowo's leadership and the implementation of the 'Asta Cita' roadmap, the people of Indonesia will continue to enjoy enduring peace, progress and prosperity. The Ruler noted that Brunei Darussalam and Indonesia recently celebrated four decades of diplomatic relations, a milestone that reflects the strong spirit of friendship and mutual understanding between both nations. The monarch highlighted the deep-rooted ties grounded in shared heritage, religion, and language as the foundation of continued harmony and cooperation. 'In the face of ongoing global geopolitical and economic uncertainty, it is crucial for both countries to continue working closely together to safeguard the well-being of our people, particularly in ensuring food security,' said the Ruler. Sultan Hassanal expressed confidence that the meaningful bilateral relationship between the two nations would continue to be strengthened through strategic cooperation across various sectors, driven by joint efforts at all levels. Regionally, the Ruler underlined Brunei's commitment to working closely with Indonesia and other Asean member states to uphold peace, stability and unity. Sultan Hassanal also reaffirmed support for advancing the Asean Community Vision 2045, which is expected to be endorsed at the 46th Asean Summit later this month. The Ruler likened the Brunei-Indonesia relationship to the Islamic concept of brotherhood, quoting a hadith of Prophet Muhammad (PBUH), describing believers as one body — when one part suffers, the whole body feels the pain. 'This is the sacred friendship between two nations bound by faith, sharing in the blessings of Allah the Almighty and jointly protecting them from undesirable elements,' the Ruler said. - Borneo Bulletin/ANN
Yahoo
28-02-2025
- Business
- Yahoo
President Prabowo Inaugurates Pegadaian Gold Bank Service, BRI Group Optimistic in Strengthening the National Economy
JAKARTA, Indonesia, Feb. 28, 2025 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) – President of Indonesia, Prabowo Subianto, officially inaugurated the Pegadaian Gold Bank Service and Bank Syariah Indonesia (BSI). This inauguration marks a significant milestone for Pegadaian, a subsidiary of BRI (BRI Group) and a member of the Ultra Micro Holding alongside Permodalan Nasional Madani (PNM), with BRI as the parent company. The inauguration ceremony was symbolized by President Prabowo Subianto placing a gold bar into a treasure box. "I, Prabowo Subianto, President of the Republic of Indonesia, hereby inaugurate the Pegadaian Gold Bank Service and Bank Syariah Indonesia," declared President Prabowo Subianto. President Prabowo Subianto expressed hope that the establishment of the Gold Bank could contribute to Indonesia's GDP by approximately IDR 245 trillion, create 1.8 million new jobs, strengthen foreign exchange reserves, and help reduce foreign exchange outflows. The inauguration was also attended by key government and industry leaders, including Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of State-Owned Enterprises (BUMN) Erick Thohir, Minister of Finance Sri Mulyani Indrawati, Minister of Energy and Mineral Resources Bahlil Lahadalia, Minister of Investment and Downstream Industry Rosan Perkasa Roeslani, and Governor of Bank Indonesia Perry Warjiyo. In his report, Minister of State-Owned Enterprises (BUMN) Erick Thohir highlighted that the Bullion Bank initiative aims to tap into 1,800 tons of gold owned by the public. BRI President Director Sunarso emphasized BRI's confidence in the Gold Bank initiative, "As the parent of the Ultra Micro Holding, which includes Pegadaian and PNM, BRI is fully committed to supporting the success of this Gold Bank program." Pegadaian President Director Damar Latri Setiawan also expressed optimism that the Gold Bank will accelerate economic growth. "Beyond pioneering the Gold Bank, this marks a new milestone where Pegadaian plays a key role in supporting the Asta Cita vision," Damar said. As of 2024, Pegadaian managed 90 tons of gold, with sales reaching 9 tons, a 35% increase from the previous year. Meanwhile, BRI's Gold Investment feature on the BRImo app, launched in February 2024, recorded a transaction volume of IDR 279.8 billion by December. "Through the Gold Bank, BRI Group is optimistic about contributing to Indonesia's economic acceleration by providing broader access to gold investments," concluded Sunarso. For more information about BANK BRI, visit View original content to download multimedia: SOURCE PT Bank Rakyat Indonesia Tbk (BRI) Sign in to access your portfolio
