JAKARTA (RambuEnergy.com) – PT Terregra Asia Energy Tbk, the first renewable energy company listed on the Indonesian Stock Exchange (IDX) said it will complete two solar energy projects (PLTS) in Australia this year.
The two projects are being developed through the company’s subsidiary Terregra Renewables Pty Ltd. The two solar PV projects have a capacity of 5 MW and 30 MW respectively.
Terregra Asia Corporate Secretary Christin Soewito was quoted by Bisnis Indonesia as saying that the one PLTS with a capacity of 5 MW will be completed in the first semester of 2019, while the second one is scheduled to be completed in second half of this year.
The two projects are expected to contribute 35% of the company’s revenues once they are entering commercial operation.
He said the solar power plants can absorb solar energy by up to 6-7 hours, higher than Indonesia 4-5 hours a day because the level of air pollution in Australia is low.
In Indonesia, Terregra is developing rooftop projects. The latest one was in Bali, which was completed late last year.
The company targets to operate 500 MW of renewable energy by 2023.
Indonesia has set an ambitious target to raise the contribution of renewable energy to 23% of primary energy mixed by 2025, from below 10% at present. However, the progress of renewable energy in Indonesia has been slow, including in developing solar and wind power in the country.
Investors blamed lack of supportive regulatory framework and lack of a conducive business environment.
Terregra, previously known as PT Mitra Megatama Perkasa (MMP), was established in 1995. MMP was a Mechanical and Electrical contractor focusing on the power generating sector, primarily working for PLN, Indonesia’s national electricity company. In 2010, MMP made its first investment in power generation, a mini-hydro plant located in Sumatera.
MMP changed its name to PT Terregra Asia Energy in 2016 as it shifted its focus to hydro and solar photovoltaic power generation. Terregra is now constructing a fleet of hydro-generation power plants and both roof-top and utility-scale photo-voltaic developments. (*)