PT Medco Energi Internasional Owned by Conglomerate Arifin Panogoro Has A Number Of EBT Project Agendas In The Next 5 Years

Illustration. (Photo: Doc. Medco Energi)

JAKARTA - Oil and gas company, PT Medco Energi Internasional Tbk (MEDC) has several agendas in working on new and renewable energy (EBT) projects. This will be done by the company owned by the conglomerate Arifin Panigoro in the next five years.

President Director of PT Medco Energi Internasional Tbk, Hilmi Panigoro said, for the development of EBT in the future, Medco will focus on solar and geothermal energy.

"In the past five years, we have worked on at least two large projects, one project in Pulau Bulan for export to Singapore and in Bali there is [PLTS] with a capacity of 50 MW", Hilmi said in a discussion on The 10th Indonesia EBTKE ConEx 2021, quoted on Tuesday, November 23.

The project in Pulau Bulan, Riau Islands, is being worked on through its subsidiary, PT Medco Power in collaboration with the PacificLight Power Pte Ltd (PLP) Consortium and Gallant Venture Ltd to export electricity based on Solar Power Plants (PLTS) to Singapore.

The project has a capacity of 670 MWp as an initial stage, which will provide electricity equivalent to 100 Megawatts (MW) non-intermittent to Singapore.

Hilmi revealed that the investment for this project is around 800 million US dollars, including battery technology for PLTS. Not only that, several other projects will be developed, namely the construction of Solar PV at the Sumbawa mine operation with a capacity of 26 MWp. The project is estimated to be completed in March 2022.

Then, the drilling of the sixth geothermal well by Medco Power for the Blawan Ijen PLTP. The drilling is expected to produce 110 MW of electrical energy.

"Perhaps the total investment of around US$1.3 billion in the next five years, which is already on paper, is currently being worked on", explained Hilmi.

Furthermore, Hilmi said, in the long term there are several programs that the company will continue to carry out to reduce greenhouse gas emissions within the company.

In addition to starting to replace the company's operational vehicles from oil-based vehicles to electric vehicles, Medco has begun to optimize the use of clean energy for mining operations.