Indika Energy and India’s 4PEL are working on the solar business and creating a new stock

TEMPO.CO, Jakarta – PT Indica energy Tbk and Fourth Partner Energy (4PEL) from India agreed to set up a new joint venture to handle the solar power business in Indonesia. The company is called PT Empat Mitra Indika Solar Power (EMITS).

“Indika Energy is proud to partner with Fourth Partner Energy,” said Arsjad Rasjid, President Director of Indika Energy, in a written statement in Jakarta on Saturday, March 7th, 2021.

Indika is a company that does business money, Oil and gas, to logistics. Fourth Partner Energy now has a solar power plant business in India with an output of more than 550 megawatts (MW).

According to Arsjad, the collaboration with Fourth Partner Energy is also an expression of the company’s commitment to diversifying its business portfolio. Including supporting government efforts to meet the 23 percent new renewable energy mix target by 2025.

Until 2020 the ministry ESDM records that the share of clean energy has only reached 11.51 percent. This success is below the original target of 13.4 percent.

Vivek Subramanian, Co-Founder and Executive Director of Fourth Partner Energy, said this collaboration with Indika Energy is an important part of the company’s expansion strategy into key markets in Southeast Asia.

“Indonesia has tremendous potential for developing the renewable energy sector in line with its aggressive goal of decarbonization,” he said.

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