JAKARTA – PT Exploitasi Energi Indonesia Tbk (CNKO), a coal mining company, is pulled towards the prospect of the new and renewable energy (NRE) industry as its new business line in order to elevate its revenue in the future.
“It is still in the exploration phase. The company starts to tread opportunities to take on NRE sector,” the management revealed in the public expose quoted Friday (15/7).
According to the management, the NRE sector will be promising as it goes in accordance with the global sustainability agenda. The energy generated from fossil fuel and coals will be left behind as they contributed in a higher level of pollution.
“There are plenty NRE-fueled power plants that could be developed, including hydropower (water), solar power, biomass, and wind,” the management continued.
In March 2022, CNKO recorded revenue of IDR 343.92 billion, increasing from the same period in 2021 of IDR 285.56 billion. The loss also reportedly shrank from IDR 22.29 billion to IDR 10.65 billion. (LK/ZH)