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Executive Column: Mining giant Indika maneuvers to low-carbon future
As part of its efforts to shift its business focus away from coal, Indonesia’s Indika Energy is in negotiations to retire its part-owned Cirebon 1 coal-fired power plant in West Java and is building an electric motorcycle.
Indika Energy vice president director Azis Armand spoke to The Jakarta Post’s Divya Karyza on Feb. 15 about his views on Indonesia’s electric vehicle (EV) ecosystem and the company’s struggle in cutting its coal income to 50 percent by 2025 amid global pressure on the coal industry.
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Azis Armand, vice president director and CEO of PT Indika Energy (PT Indika Energy/-)
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em>As part of its efforts to shift its business focus away from coal, Indonesia’s Indika Energy is in negotiations to retire its part-owned Cirebon 1 coal-fired power plant in West Java and is building an electric motorcycle.
Indika Energy vice president director Azis Armand spoke to The Jakarta Post’s Divya Karyza on Feb. 15 about his views on Indonesia’s electric vehicle (EV) ecosystem and the company’s struggle in cutting its coal income to 50 percent by 2025 amid global pressure on the coal industry.
Question: What are Indika Energy’s programs to stay competitive in the national and global market this year?
Answer: Indika Energy is a holding company operating in several sectors. The asset portfolio defines the company. In the last five years, we have aimed to diversify our business portfolio, after previously focusing mainly on coal. We are considering many aspects, including coal price uncertainty and energy transition trends.
[We aim] to change our investment criteria to anticipate the ever-evolving market to stay relevant. We aim to invest in sectors with a lower carbon footprint than coal, the largest share of which goes to gold mining, followed by logistics, forest plantations, EV and renewable energy.
What is the latest on your plans to cooperate with Air Products Chemical Inc. to develop a coal-to-dimethyl ether project?
