Astrindo weighs coal asset divestment to pivot to green energy

PT Astrindo Nusantara Infrastruktur Tbk (IDX: BIPI) is exploring the divestment of several coal mining subsidiaries as part of a strategy to strengthen its renewable and sustainable energy portfolio.

The company said it is in discussions with potential buyers and that the divestment process has reached an advanced stage, although it did not disclose the assets involved or potential deal value.

President Director Ray Anthony Gerungan said the move is aimed at optimizing the company’s investment portfolio while supporting the energy transition.

Read also: Astrindo to ramp up coal production in 2026

“We see ESG not only as a business opportunity but also as a solution to support the national energy transition,” he said in a statement on April 20.

Astrindo added it is also evaluating new investments in cleaner energy, including gas-based infrastructure and other low-emission projects, as part of efforts to diversify its business.

The company said the shift would focus on improving efficiency, promoting sustainable resource use and adopting technologies to reduce carbon emissions.

Indonesia has been encouraging a gradual transition toward cleaner energy, while some companies are reassessing their exposure to coal assets amid growing environmental concerns.

Editing by Reiner Simanjuntak