Focus on Sustainable Energy Business - Astrindo Nusantara Divests Coal Mining Sector
Jakarta - To strengthen its sustainable energy business portfolio, PT Astrindo Nusantara Infrastruktur Tbk (BIPI) is exploring the divestment of several subsidiaries in the coal mining sector. This step is part of the company’s efforts to optimise its investment portfolio while accelerating the transformation towards more environmentally friendly energy businesses.
BIPI’s President Director, Ray Anthony Gerungan, stated in a press release in Jakarta yesterday that the divestment process has entered an advanced stage. The company also ensures that the entire process will adhere to applicable regulations. “We view ESG aspects not only as a business opportunity but also as a real solution in supporting the national energy transition. Moving forward, the company will continue to develop a sustainable energy portfolio that can create long-term value for shareholders and stakeholders,” he said.
BIPI’s management stated that the company is currently in discussions with several potential buyers regarding the divestment plan. This initiative is expected to provide long-term added value, both in terms of financial performance and business sustainability.
In addition to the divestment, Ray continued, BIPI is also open to expanding investments in the clean energy sector. The company is evaluating several initiatives, including the development of gas-based energy infrastructure and other environmentally friendly projects. These efforts include the utilisation of more efficient resources, sustainable waste management, and the application of technologies that support carbon emission reductions.
This step affirms Astrindo’s strategic direction in diversifying its business into the green energy sector, while building a more balanced and long-term oriented energy portfolio. Moving forward, the company targets to continue creating value for shareholders and stakeholders through adaptive and sustainable business strategies. “Astrindo is committed to continuously creating value for shareholders and other stakeholders through adaptive, innovative, and future-oriented business strategies,” said Ray.
Not long ago, the company acquired 20% of the shares in entities of the PT Maharaksa Biru Energi Tbk (OASA) Group, which operates in waste processing into energy (waste-to-energy). Astrindo Nusantara Infrastruktur Director, Michael Wong, once stated that this step is part of the company’s long-term strategy to expand its sustainable energy portfolio. “This is a strategic step for Astrindo to expand participation in Indonesia’s clean energy ecosystem. We see waste-to-energy not only as a business opportunity but also as a real solution in supporting the national energy transition,” he said.
The company signed a share purchase agreement to acquire 20% shares each in PT Indoplas Energi Hijau (IEH) and PT Maharaksa Energi Hijau (MEH), which are part of the PT Maharaksa Biru Energi Tbk business group. This step is part of Astrindo’s strategy to expand exposure to the waste-to-energy business while reinforcing its commitment to implementing environmental, social, and governance (ESG) principles.