February 20, 2025 | 04:46 pm
TEMPO.CO, Jakarta - Chairperson of the National Economic Council (DEN) Luhut Binsar Pandjaitan announced that the United Arab Emirates (UAE) plans to invest US$10 billion (Rp163.4 trillion at an exchange rate of Rp16,340) into Indonesia's sovereign wealth fund, Daya Anagata Nusantara (Danantara), for the development of the new renewable energy (NRE) sector. He explained that this investment would be executed through a joint venture or company.
Luhut recounted a meeting ten days ago with UAE Minister of Energy and Infrastructure, Suhail Mohamed Al Mazrouei, at his office. During the meeting, he presented Indonesia's plan to develop NRE-based power plants with a capacity of 72 gigawatts. "And he said, 'Okay, with a joint venture, we can join for 10 gigawatts', 10 gigawatts is US$10 billion," said Luhut at the Bloomberg Technoz Economic Outlook 2025 event in the SCBD area, South Jakarta, on Thursday, February 20, 2025.
"So, it can be imagined that there are so many opportunities at the moment," said the former Coordinating Minister for Maritime Affairs and Investment during the era of the 7th President Joko Widodo.
President Prabowo Subianto previously announced that the Danantara Investment Management Agency (LPPI Danantara) will be launched on Monday, February 24, 2025. Danantara will later become a super-holding company and the Indonesian government's investment vehicle.
Prabowo mentioned that the Indonesian government is ready to launch the latest sovereign wealth fund, Danantara, which, according to the initial evaluation, will manage US$900 billion in assets under management (AUM).
"Danantara, which will be launched on the 24th of February this month, will invest our natural resources and state assets into high-impact sustainable projects in various sectors such as renewable energy, advanced manufacturing, downstream industries, food production, and others," said Prabowo during his speech at the World Governments Summit 2025, as quoted from the President Secretariat's YouTube channel on Friday, February 14, 2025.
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