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Jakarta Post

Indika Energy to cut coal income to 50%

Publicly listed coal miner Indika Energy president director Arsjad Rasid (third right) and finance director Aziz Armand (second left) talk to journalists after attending annual shareholders meeting on April 26.(JP/Stefanno Reinard Sulaiman)
Norman Harsono
PREMIUM
Jakarta   ●   Sat, April 17 2021

Publicly listed PT Indika Energy, one of Indonesia’s top coal miners by output through subsidiary PT Kideco Jaya Agung, plans to cut its coal income to 50 percent by 2025 amid growing pressures on the global coal industry.

The company, which earned 70 percent of its total revenue last year from coal sales, plans to diversify into, among other sectors, logistics, metal mining, forest plantations and renewable energy, which includes an ambitious plan to operate nearly 1,000 megawatts peak (MWp) of solar photovoltaics (PVs) by 2025.

In comparison, Indonesia’s installed solar power capacity stood at 153.5 MWp in 2020, according to Energy and Mineral Resources Ministry data.

“We will also make a commitment on net-zero emissions in the future because this is about how to balance [our business]. This is also why we are going into nature-based b...

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