PLN And Bank Jepang Connect Investment Cooperation Energy Transition

PLN President Director Darmawan Prasodjo. (Photo: Doc. PLN)

JAKARTA - PT PLN (Persero) together with the Japan Bank for International Cooperation (JBIC) collaborated marked by the Memorandum of Understanding (MoU) exchange on Energy Transitional Investment Cooperation. Previously, the signing of the MoU was carried out by the Finance Director of PLN, Sinthya Roesly and JBIC Jakarta Chief Representative, Narakata Goto, on the sidelines of the Energy Transition Day agenda on November 1, 2022.

The MoU exchange was carried out directly by the President Director of PLN, Darmawan Prasodjo with the Executive Officer, Regional Head for Asia and Pacific JBIC, Matsuda Noriyasu.

PLN President Director, Darmawan Prasodjo said this collaboration leads to data exchange and information as well as joint consultation related to energy transition investment.

"In addition, we open up cooperation options in renewable energy projects, and potential financial support, guarantees, and equalization on potential projects, and others," he said in a statement to the media, Monday, November 14.

In line with the NDC target initiative, PLN has also compiled and established a long-term energy transition plan. There are 8 initiatives, namely termination of coal power plants, co-firing biomass, co-firing trials of hydrogen and ammonia, studies related to Carbon Capture & Storage, construction of EBT plants, smart grids, green energy as a service, and the electric vehicle ecosystem.

The PLN energy transition program is expected to be announced at the G20 Summit, thus causing echoing effects globally and inviting other countries to make the same efforts.

Darmawan hopes that the existence of this MoU can strengthen and expand the mutually beneficial relationship between PLN and the Japanese business community including financial and credit institutions.

PLN and JBIC affirm the willingness to cooperate through the support of potential projects to achieve energy transitions in Indonesia. Cooperation areas include renewable energy and technology that contributes to reducing greenhouse gas emissions," he added.

Meanwhile, Head for Asia and Pacific JBIC, Matsuda Noriyasu said that through this collaboration, his party will coordinate actively with Japanese companies needed to identify opportunities for PLN to collaborate.

"In addition, we are committed and seek to provide loans, guarantees and equity investments to support potential projects," Matsuda concluded.