GSI-Sumitomo Pumps US$800 Mln into Indonesia’s Green Energy Projects

Summary

PT GSI and Sumitomo Corporation Indonesia are ready to develop five business sectors with a total investment of around US$600 million-US$800 million. One of them is the green energy project in West Nusa Tenggara (NTB). GSI plans to develop several e-energy projects, starting from e-power, e-gas to e-fuel. "The economic value that can be generated from the business is more than US$2 billion," GSI Chief Executive Officer Ginanjar Sofyan said on Wednesday.

GSI has signed a memorandum of understanding with the NTB Provincial Administration in jointly establishing the business ecosystem. The businesses they develop will be digitally integrated with each other. Currently, there are various green energy potentials in NTB, such as corn stover, that can be used as raw materials for bio-compressed natural gas (bio-CNG) to replace imported liquefied petroleum gas (LPG).

As a corn-producing area, NTB could produce up to 1,200 tons of corn stover per day, meaning that GSI could produce a sustainable bio-CNG. "We will accelerate the work, starting with bio-CNG in the first quarter of 2022," said the former president director of PT Pertamina Power Indonesia.

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