Pertamina reportedly will invest in renewable energy in Kenya worth US$1.5 billion, mainly geothermal energy.
Heaptalk, Jakarta — Indonesia’s President, Joko ‘Jokowi’ Widodo, supports the strategic endeavor of Pertamina to elevate investment activity in Kenya, particularly in the renewable energy (EBT) sector.
After an official meeting with the President of Kenya, Jokowi revealed that Pertamina, through its subsidiary Pertamina International Exploration and Production (PIEP) and Pertamina Geothermal Energy (PGE), will explore opportunities for cooperation in Kenya. By involving these subsidiaries, Pertamina reportedly will invest in renewable energy in Kenya worth US$1.5 billion (around Rp22.9 trillion).
“Indonesia intends to elevate investment in Kenya, especially in the energy sector. For this reason, I ask for Kenya’s support to make Pertamina’s investment with the Geothermal Development Company and Guma group can be realized and expanded in the field of new and renewable energy and the need to establish a Bilateral Investment Treaty between the two countries,” Jokowi said, in his statement.
Apart from strengthening investment, Jokowi encourages increased trade between Indonesia and Kenya. He conveyed that the government noted that trade between these two countries had reached US$507 million in 2022.
Besides, during his state visit he also admitted cooperation in developing vaccines and pharmaceutical products, as stated in the Memorandum of Understanding (MoU) between PT Bio Farma, Biovacs, and Generic Africa Ltd.
“I have also conveyed Indonesia’s commitment through Indonesia-Africa Infrastructure Dialogue (IAID) for Kenya in health, food security, and disaster management. From now on, this plan will be further enhanced, specifically for the most prioritized sector in Kenya,” Jokowi affirmed.
In response to this strategic plan, the President Director of Pertamina, Nicke Widyawati, affirmed that Pertamina continues to unlock numerous opportunities to cooperate. According to her, In Kenya, the company has signed an MoU in the geothermal sector and is exploring strategic cooperation from the upstream to downstream industries.
“Kenya has significant energy potential, from the upstream to the geothermal sector. This matter is Pertamina’s first attempt to enhance the business potential in Kenya, which is expected to benefit both parties,” added Nicke.
