Freeport Talks about Prospective Thing as New Renewable Energy Trend Increases

26 July 2021

PT Freeport Indonesia said the trend of new renewable energy would bring huge business opportunities for the company along with the increasing use of electricity.

Freeport Indonesia President Director, Tony Wenas, said, copper mining products will be a prospective thing amid the increase in electricity-based products in the near future.

Tony explained, in addition to electric vehicles, the market potential for copper products will be widely open with the presence of new renewable energy power plants such as PLTS and PLTA which require large amounts of copper.

"Mining products are the best conductors of electricity. For example, one unit of electric vehicles requires 4 times more copper than conventional cars," said Tony at the 2021 Green Summit, on Monday (26/7/2021).

In addition to capturing this business opportunity, the trend of new renewable energy at the global level is directing companies to increase their clean energy mix in their operations.

Tony added that recently, he had implemented the use of biofuels for mining equipment in the lowlands. Biofuel is also used for electricity generation in the company's mining areas.

"From 2020 to 2024, we will increase B30–B40 from 7 million liters to 100 million liters per year, as well as the construction of PLTMG where we use biofuels, so this will greatly reduce carbon emissions from other fossil fuels," he said.

Meanwhile, previously, President Director of PT Medco Energi Internasional Tbk (MEDC), Hilmi Panigoro said that the acceleration of the use of new renewable energy (EBT) in Indonesia needs to be accompanied with better regulations and the ease for investment process.

According to him, so far, the use of new renewable energy in Indonesia has shown an upward trend. However, this has also been followed by an increase in the use of fossil energy sources such as coal. "So, the trend of using new renewable energy in Indonesia seems like stagnant, but it's not," he said in a webinar on Wednesday (14/7/2021).

One of the conveniences that, according to Hilmi, can be provided to potential investors, is legal certainty. According to him, the law related to EBT must be consistent, credible, have clear legal instruments, and have good implementation. "This law must be consistent. It should not be easily," said Hilmi.

 

https://ekonomi.bisnis.com/read/20210726/44/1422093/freeport-sebut-calon-barang-buruan-di-tengah-tren-energi-terbarukan

 

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