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Indika looks to India for renewable solutions
Indika executives have traveled to India to seek viable solutions for its green transition from its Hyderabad-based partner, Fourth Partner Energy, primarily in solar and EV technology.
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Indonesian energy firm representatives (from left) Empat Mitra Indika Tenaga Surya (EMITS) CEO Yovie Priadi, Indika Energy CFO Retina Rosabai and Indika Energy CEO Azis Armand inspect on Dec. 15, 2022 rooftop solar panels installed on a building of Jawaharlal Nehru University in New Delhi, India. (Courtesy of Indika Energy /Indika Energy)
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eading Indonesian energy firm Indika Energy is stepping up efforts to shift from coal by seeking new technologies to power its drive toward renewable energy from its Indian partner, Fourth Partner Energy, based in Hyderabad, with which it set up a joint venture in 2021 called Empat Mitra Indika Tenaga Surya (EMITS) to work on solar, storage and EV charging solutions in Indonesia.
In the last week, Indika Energy executives traveled to India to look at some of the technological solutions the company could offer to the Indonesian market, including solar power generation, battery storage and electronic vehicle (EV) charging solutions.
Indika Energy CEO Azis Armand said that new and better technologies on solar power generation, battery storage and EV charging solutions would be key to helping the company shift from its reliance on coal to generate revenue.
“For this solar panel technology, after partnering with [Fourth Partner] for one year, we can book orders close to 50 megawatts-peak [MWp]. In the next three or four years, we expect to reach 500 MWp,” Azis told select media invited to the five-day Indika Energy press junket, including The Jakarta Post.
Azis added that some of the Fourth Partner solutions offered through EMITS could fulfill the company’s ambitious target to generate 50 percent of revenue by 2030 from its non-coal businesses, such as gold mining and EVs.
Indika is the country’s third biggest coal producer through subsidiary PT Kideco Jaya Agung, and its non-coal businesses currently contribute just 12 percent of revenue.
Meanwhile, joint venture EMITS has set a target of winning contracts to install up to 100 MWp capacity in solar panels by 2022 and 500 MWp by 2025.
