BWPT - PT. Eagle High Plantations Tbk

Rp 52

-1 (-1,92%)

JAKARTA. PT Eagle High Plantations Tbk (BWPT) will develop its latest renewable energy project to process palm oil mill waste alongside a subsidiary of PT ABM Investama Tbk (ABMM).

Andrew Haryono, Corporate Secretary of BWPT, said that his company and ABMM’s subsidiary will generate renewable energy through Biogas Power Plant in Central Kalimantan. This project is located in one of the palm oil plants owned by BWPT.

“This project aims to convert palm oil mill liquid waste, or Palm Oil Mill Effluent (POME), to renewable energy,” explained Haryono.

The value of this biogas plant project is not openly disclosed. However, Haryono believed that this collaboration will strengthen cash flow, as well as generating positive impact on business activities of the company in the future.

For the record, ABMM’s subsidiary involved in this cooperation is PT Anzara Janitra Nusantara (AJN). According to IDNFinancials data, AJN is a company engaged in the thermal power station industry.

AJN was previously called PT Pradipa Aceh Daya (PAD). As of June 30, 2023, AJN recorded total assets before elimination of USD 4.29 million. (KR/ZH)