Indonesia's Pertamina NRE invests $500m in energy fund with MDI Ventures

Indonesia's Pertamina NRE invests $500m in energy fund with MDI Ventures

Photo: Pertamina Power website

Indonesian state-owned firm Pertamina’s new renewable energy subsidiary, Pertamina NRE, will be investing $500 million in an energy fund set up in collaboration with state-owned Telkom Indonesia’s venture capital arm, MDI Ventures.

Pahala Mansury, Indonesia’s vice minister of state-owned enterprises, said the energy fund will invest over a five-year period. “We expect more investors to join,” Mansury told DealStreetAsia.

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