TBS Energi to Invest US$1 Bln in Renewable Energy

By Editorial Team 17/03/2022
More capital for banks
Summary

PT TBS Energi Utama Tbk (TOBA) will invest nearly US$1 billion to develop renewable energy and digital infrastructure. The company, founded by the coordinating minister for Maritime Affairs and Investment Luhut Binsar Panjaitan, is committed to realizing the net-zero emission target in 2050-2060. "We will invest nearly US$1 billion from our internal cash flow in the next four years," Pandu Patria Sjahrir, TBS Energi Utama vice president director, said in a statement.

In addition, the listed energy company will invest in the digital infrastructure business on the back of Indonesia's vast potential in the sector. "Digital infrastructure is currently the fastest growing market in Indonesia," Pandu said. In the last seven years, the technology sector in Indonesia has continued to grow. In addition, Indonesia may adopt technology well.

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