VINANSIA.COM — The Indonesian Ministry of Energy and Mineral Resources (ESDM) has announced that the government is now offering the Kayan Cascade Hydroelectric Power Plant project to Chinese investors. This development follows the recent withdrawal of Sumitomo Corporation from the project located in Bulungan Regency, North Kalimantan.

Lana Saria, an expert staff member at ESDM, revealed that the Kayan Cascade hydroelectric project was presented to potential investors during the recent Indonesia-China Energy Forum (ICEF). In addition to the Kayan Cascade project, the Ministry, led by Bahlil Lahadalia, also proposed the Mamberamo Hydroelectric Power Plant project in Papua to Chinese investors.

"At the ICEF, the ESDM Minister emphasized Indonesia's potential for renewable energy resources, including the Kayan and Mamberamo hydroelectric projects," said Lana, as quoted by bisnis.com.

Sumitomo Corporation, a Japanese firm that entered into a partnership with PT Kayan Hydro Energy (KHE) for the Kayan Cascade project in 2022, ended its collaboration in the first quarter of 2024. 

Steven Kho, Executive Committee member at Kayan Hydro Energy, confirmed the termination of the partnership but did not elaborate on the reasons. He cited differences in commercial perspectives between the two parties but assured that relations with Sumitomo remain amicable.