OIKN: Middle East Investors Interest In EBT Investment In IKN

Illustration. (Photo: Doc. Antara)

The Capital Authority of the Archipelago (OIKN) revealed that Middle Eastern countries have applied for interest in investing in the new and renewable energy sector (EBT) in the archipelago, East Kalimantan.

"Regarding the energy sector in IKN, Middle Eastern countries such as the United Arab Emirates and Saudi Arabia have applied for interest," said Deputy for Funding and Investment at OIKN Agung Wicaksono in an online discussion in Jakarta, quoted from Antara, Monday, February 19.

The Middle Eastern investors plan to allocate their investment of around 5-10 billion US dollars to build an EBT in IKN, as is currently being done by PLN Indonesia together with Semcorp Utilities Pte. Ltd Singapore.

Sembcorp Utilities Pte. Ltd. is an energy company from Singapore that works with PLN Nusantara Power (NP) to build Solar Power Plants (PLTS) at IKN.

"We will expand and those are foreign partners from the Middle East who will be our mainstay," said Agung.

For information, based on the IKN Master Plan in Law Number 3 of 2022 concerning the State Capital states that the IKN Main Plan proposes 100 percent of IKN's annual electricity needs to be supplied by renewable power plants, including solar power plants (PLT) or solar farm and roof solar power plants (top solar panels).

The IKN electricity system consists of various power sources, such as solar farm plants, roof solar panels, road lighting solar panels, and floating solar panels. Therefore, the network's ability to distribute electricity supplies from scattered power plants is needed to integrate in meeting electricity needs at all times.

IKN is planned to apply a smart grid, namely a network system that allows two-way electricity and data with digital communication technology to detect, react, and proactively adapt to changes in usage and various problems.

IKN must produce and export solar energy that is equivalent to the amount of energy used from natural gas to achieve a 100 percent key performance index (KPI) of renewable energy.