By Cepi Setiadi
IDX-listed coal miner PT Indo Tambangraya Megah Tbk (IDX: ITMG) has revealed that it is currently assessing multiple hydropower plant projects in Sulawesi.
Ignatius Wurwanto, Director of ITMG, said that this initiative is part of the company’s broader strategy to navigate the ongoing energy transition.
"We are exploring several hydropower projects in Sulawesi, though I cannot provide specific details at this stage as they are still in the early phases. However, the potential of these projects is significant, and we are eager to pursue them further," Ignatius said in an interview with Petromindo.com on Thursday (February 20).
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When discussing ITMG’s potential entry into the hydropower sector, Ignatius emphasized that the company would closely monitor government policies before making any final decisions.
"Yes, but ultimately, it depends on government policies. We are awaiting more clarity on these policies. For instance, we will also be assessing the government’s position on solar photovoltaics (PV), and the same approach applies to hydropower," he explained. "This is part of the transition process, but I cannot provide specific figures at this time as it is still early. However, we are definitely moving in this direction."
Ignatius expressed optimism that the company could launch its first hydropower project within the next three years. "Again, this is highly contingent on government policies and whether hydropower becomes a priority for the government. It's also important to note that recent announcements have indicated that coal-fired power plants (PLTU) will remain operational for another 15 years," he added.
Editing by Reiner Simanjuntak
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