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View all search resultsIndonesia is poised to transform its energy landscape into one that relies on renewable energy. With efforts already under way, it is crucial that financing demands and critical elements of energy transition are met. State-owned infrastructure financing company PT Sarana Multi Infrastruktur (PT SMI) is working to provide support through its role as country platform manager of the Finance Ministry-led Energy Transition Mechanism (ETM).
The ministry’s Sarana Multi Infrastruktur (SMI) will control 25 percent of TJT, which was previously owned wholly by Waskita Toll Road, a subsidiary of debt laden state-owned construction firm Waskita Karya.
Financing is an essential part of the energy transition that Indonesia needs to achieve its 2060 net-zero emissions target. One mechanism expected to support the country’s retirement of existing coal-fired power plants and replace them with clean energy is the Finance Ministry-led Energy Transition Mechanism (ETM), with state-owned infrastructure financing company PT Sarana Multi Infrastruktur (Persero) or (“PT SMI”) as ETM Country Platform Manager.
Finance Minister Sri Mulyani Indrawati and her officials visited state-owned infrastructure financing company PT Sarana Multi Infrastruktur (PT SMI) on March 3 to commemorate the company’s 14th anniversary and chart the company’s expanded mandates from financing infrastructure projects to providing loans for local administrations.
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