Indonesian coal mining firm Adaro Energy seeking diversification into renewables
Coal barge, Central Kalimantan, Borneo, Indonesia (source: flickr/ IndoMet in the Heart of Borneo, creative commons)
Alexander Richter
10 Jun 2016
Indonesian coal mining firm Adaro Energy is seeking to diversify its business into renewable energy, looking at smaller projects in solar, geothermal, biomass or micro-hydro plants.
Reported yesterday from Jakarta, publicly listed Adaro Energy, Indonesia’s second-largest coal miner by volume, has announced plans to diversify its business into green energy this year through its subsidiary Adaro Power.
Adaro Power has been assigned to bid on green energy projects over the next two or three months. The company will decide between solar-cell, geothermal, biomass or micro hydro power plant projects, said Adaro Energy president director Garibaldi “Boy” Thohir.
“We will slowly enter the green energy field, beginning with 50 megawatts for a start,” Boy, whose company operates the largest single-site coal mine in South Kalimantan, told thejakartapost.com in Jakarta on Wednesday.
For that size of electricity project, he continued, Adaro Power would initially need to invest US$75 million to $100 million. Boy said 70 percent of the funds would be sourced from loans and the remainder from internal sources.
Source: The Jakarta Post
