Pertamina NRE to Aid Bangladesh in Its Energy Transition

In a significant development for Bangladesh’s renewable energy sector, Pertamina New & Renewable Energy (Pertamina NRE) has signed a Memorandum of Understanding (MoU) with Coal Power Generation Company Bangladesh Limited (CPGCBL) for a groundbreaking 500 MW grid-connected solar PV project. The project is set to be developed in the Moheshkhali area of Cox’s Bazar or on other suitable land within the country.

The MoU, which is contingent on the results of a forthcoming feasibility study, includes plans for supporting facilities and establishes a foundation for further cooperative ventures under mutually agreed terms. This signing follows a Government-to-Government (G2G) MoU between Indonesia and Bangladesh, originally signed in 2017, highlighting the deepening ties between the two nations in the realm of sustainable energy.

A Milestone in Renewable Energy Progress

This MoU marks a significant stride in Bangladesh’s journey toward sustainable energy solutions and renewable infrastructure advancement. The agreement was formalized by Abul Kalam Azad, Managing Director of CPGCBL, and Fadli Rahman, Acting Chief Executive Officer of Pertamina NRE, during a ceremony held at the Crystal Ballroom, Hotel Intercontinental, on July 15th. Nelwin Aldriansyah, Chief Financial Officer of Pertamina NRE, was also present at the event.

Nelwin Aldriansyah expressed enthusiasm about the partnership, stating, “We are very delighted at the signing between CPGCBL and Pertamina NRE. CPGCBL is a reputable power company in Bangladesh, and Pertamina NRE has the capability and experience in managing clean energy portfolios. I believe this strategic partnership lays the foundation for a collaboration that will not only enhance our operational capabilities but also foster growth, innovation, and mutual success, supporting Bangladesh’s national energy security.”

The Senior Secretary of the Power Division at CPGCBL emphasized the MoU’s impact, saying, “This MoU will significantly help us to achieve the Integrated Energy and Power Master Plan (IEPMP) target on Renewable Energy.”

Background of CPGCBL and Pertamina NRE

Coal Power Generation Company Bangladesh Limited (CPGCBL) was established on September 5, 2011, under the Companies Act 1994 as an enterprise of the Government of the People’s Republic of Bangladesh. Its primary objective is electricity generation, with a mandate to construct power plants under various policy frameworks, including the Private Sector Power Generation Policy of Bangladesh and Public-Private Partnership (PPP) Policy.

For Bangladesh, the MoU signifies a pivotal milestone in the journey towards a sustainable energy future, solidifying a partnership with Pertamina NRE, a subsidiary of PT Pertamina (Persero), a Fortune 500 company renowned for its expertise in renewable energy.

Fadjar Djoko Santoso, Vice President of Corporate Communication at PT Pertamina (Persero), highlighted the strategic importance of this partnership as part of Pertamina’s global expansion efforts. “We support this expansion, which aligns with Pertamina NRE’s competency in new and renewable energy. As a subholding, Pertamina NRE shows its commitment to scaling their business independently,” said Fadjar.

Currently, Pertamina NRE operates a portfolio of over 2.7 Gigawatts, including gas-to-power, solar PV, geothermal, and biogas facilities. The company is dedicated to investing in innovative technologies and infrastructure to support the energy transition, underscoring its commitment to building national and international partnerships that contribute to a just energy transition, aiming to achieve Sustainable Development Goals (SDGs) and bolster national energy security.

Commitment to a Sustainable Future

As a leading entity in the energy transition, Pertamina is steadfast in its commitment to supporting the Net Zero Emission 2060 target. The company continues to promote programs that directly impact the achievement of the SDGs, aligning with Environmental, Social, and Governance (ESG) implementation across all business lines and operations.

This partnership between Pertamina NRE and CPGCBL represents a monumental step toward enhancing renewable energy capabilities in Bangladesh, promising a brighter, more sustainable future for the nation and its people.