PERTAMINA and JICA Enhance Energy Transition Efforts with Letter of Intent and Confidentiality Agreement Signing at AZEC 2024
Jakarta, August 22, 2024 – PT PERTAMINA (Persero) (“PERTAMINA”) and the Japan International Cooperation Agency (JICA) announce the signing of Letter of Intent (“LOI”) to explore potential collaboration in energy transition. The signing took place at the Asia Zero Emission Community (AZEC) Ministerial Meeting 2024, held at the St. Regis Jakarta. Emma Sri Martini, Finance Director of PERTAMINA, and Takeda Sachiko, Chief Representative of JICA, formalized the agreement.
The Republic of Indonesia ("Indonesia"), with its commitment to reducing carbon emissions and enhancing renewable energy capacity, stands at a critical juncture in its energy transition. As the nation continues to grow economically, the need for sustainable and efficient energy solutions becomes increasingly important. PERTAMINA and JICA’s collaboration aim to address these needs by fostering innovation and cooperation in several key areas.
PERTAMINA and JICA intend to discuss and explore potential collaborations such as financing for transition and renewable energy projects, supporting innovative research and pilot projects for energy transition, development of human capital through training and workshops, and establishing technology partnerships for the implementation of energy project technologies in Indonesia. Furthermore, the LOI also includes potential cooperation in marine and logistics operations, and other potential forms of cooperation that ensuring a holistic approach to advancing energy sustainability and efficiency.
Emma Sri Martini, Finance Director of PERTAMINA, stated, “In an effort to achieve our Net Zero Emission target by 2060, Pertamina has undertaken two strategic initiatives: decarbonization and low carbon business. To reach this ambitious goal, Pertamina requires support from various parties, including technical assistance from JICA, which will expedite the development of our capabilities, as well as the transfer of knowledge and technology. This signing marks the first milestone in the collaboration between Pertamina and JICA, and I hope it will continue to strengthen the partnership between Indonesia and Japan in the future.”
Fadjar Djoko Santoso, Vice President Corporate Communication of PERTAMINA also commented, “Our collaboration with JICA is a critical step in this direction. Through joint initiatives and shared expertise, we are committed to driving forward the transition to renewable energy and enhancing the overall efficiency of our energy projects.”
Takeda Sachiko, Chief Representative of JICA, added, “JICA is supporting energy transition in Asian countries based on AZEC. We are very pleased to have established a cooperative relationship with Pertamina, which is expected to play an important role in Indonesia to achieve a decarbonized society.”
Through this collaboration, which plays an essential role in the energy transition, PERTAMINA and JICA contribute to Indonesia’s goal of achieving net zero emissions by 2060. The partnership is expected to pave the way for numerous joint initiatives, driving forward the transition to renewable energy and enhancing the overall efficiency of energy projects.**