August 15, 2025 | 12:00am
MANILA, Philippines — Indonesia’s sovereign wealth fund and state-owned oil and gasoline firm want to develop their investments within the Philippines, in response to the Workplace of the Particular Assistant to the President for Funding and Financial Affairs (OSAPIEA).
In an announcement yesterday, the OSAPIEA stated SAPIEA Frederick Go met with high executives of Indonesia’s almost $1 trillion sovereign wealth fund Danantara and oil and petroleum firm Pertamina.
Additionally current within the assembly have been Surroundings and Pure Assets Secretary Raphael Lotilla and Power Secretary Sharon Garin.
Throughout the assembly, Danantara and Pertamina expressed intent to pursue extra investments within the Philippines.
Particulars on the extra investments being eyed by the corporations weren’t obtainable yesterday.
OSAPIEA stated the curiosity in investing additional within the nation would construct on the corporations’ current funding of about $120 million in Citicore Renewable Power Corp. (CREC).
Final June, Pertamina accomplished its acquisition of a 20-percent stake in CREC.
The acquisition was made by Pertamina’s subsidiary, Pertamina New & Renewable Power (Pertamina NRE).
This marks Pertamina NRE’s first funding within the Philippines and its entry to the nation’s renewable vitality sector.
It’s also the primary abroad funding accepted by Danantara.
