Pertamina NRE Weighs 20% Stake in Philippine Renewable Energy Firm
Main Takeaways
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JAKARTA, Investortrust.id – PT Pertamina New & Renewable Energy (NRE) is evaluating the potential acquisition of a 20% stake in Philippine renewable energy firm Citicore Renewable Energy (CREC.PS), according to CEO John Anis.
Anis confirmed that the company is currently conducting a feasibility study, focusing on the strategic benefits for Indonesia and the impact on Pertamina NRE’s balance sheet before proceeding with the acquisition.
“If we invest abroad, we must assess what benefits it brings to Indonesia. First, the company must be financially healthy, with a strong portfolio and balance sheet,” Anis stated at The Hermitage, Menteng, Jakarta, on Monday, March 10, 2025.
Strengthening Indonesia’s Energy Capabilities
Anis revealed that discussions with Citicore Renewable Energy have already taken place, but internal processes must still be completed. He emphasized that the acquisition could enhance Indonesia’s energy transition capabilities by expanding expertise and skill development.
“This could allow us to send Indonesian professionals there to improve their expertise in the energy transition sector. They have strong competence, particularly in construction,” he noted.
Partnership and Trade Expansion
Beyond acquisition, Pertamina NRE is also keen on forming strategic partnerships. Anis cited the planned solar panel production facility in Cikarang, West Java, as a key opportunity for collaboration with the Philippines.
“For instance, once we establish a solar panel factory, we could export to them. Additionally, if Indonesia requires large-scale solar panel development in the future, we could leverage their experience and attract capital investment to collaborate here,” Anis explained.