Profil PT TBS Energi Utama Tbk

Profil Perusahaan / Lembaga - PT. TBS Energi Utama Tbk
Deskripsi Perusahaan / Kelembagaan

PT TBS Energi Utama Tbk (Company) is an integrated energy company with a growing focus on developing clean and renewable energy. The Company’s interests span from power to mining and plantation. In recent years, realizing the need to reduce carbon footprint and help contribute to the betterment of environment and future generations, it has invested in clean energy power plants, adding to its overall business portfolio. The Company was established under the name PT Buana Persada Gemilang based on Deed No. 1 dated August 3, 2007, made before Tintin Surtini, S.H., M.H., M.Kn., as substitute of Surjadi S.H., Notary in Jakarta.

PT Buana Persada Gemilang changed its name to PT Toba Bara Sejahtra based on Deed No. 173 dated July 22, 2010, made before Jimmy Tanal, S.H., as substitute of Hasbullah Abdul Rasyid, S.H., M.Kn., Notary in South Jakarta. The Company is publicly listed on the Indonesia Stock Exchange, with 8,049,964,000 shares and TOBA ticker code. It made its Initial Public Offering with 210,681,000 shares, valued at Rp 1,900 per share. In 2019, it performed a stock split with a 1:4 ratio. Currently, the largest shareholder is Highland Strategic Holdings Pte Ltd, an investment company from Singapore with investment focus on the energy sector.  

The global move towards a more sustainable form of doing business has spurred the Company to renew its focus in becoming an integrated energy company that can create positive impact to the world. This frame of mind led PT Toba Bara Sejahtra Tbk to change its name to PT TBS Energi Utama Tbk based on Deed No. 110 dated August 26, 2020, made before Aulia Taufani, S.H., Notary in South Jakarta.

The Company’s business covers three sectors: power, mining, and plantation. It began its trade in the mining sector, but in recent years has put more focus on renewable energy and sustainability, particularly in the power sector.

Its mines covers a total of 7,087 hectares, consisting of three mines in Kutai Kartanegara, East Kalimantan, with total estimated coal reserves at 63,9 million tons and coal resources at 236 million tons based on 2018 JORC report. The three mines, developed from greenfields, are operated by three subsidiaries: PT Adimitra Baratama Nusantara (ABN), PT Indomining (IM), and PT Trisensa Mineral Utama (TMU), with adjacent locations allowing cost efficiency and shared logistics.

The Company’s palm oil plantation is operated by PT Perkebunan Kaltim Utama I, with a palm oil mill capacity of 30 tons per hour.

In recent years, the Company has been investing in the power sector as a move towards generating more sustainable source of energy. It owns PT Gorontalo Listrik Perdana (GLP), which develops the Sulbagut-1 2x50 MW CFPP project in Gorontalo, and PT Minahasa Cahaya Lestari (MCL), which develops Sulut-3 2x50 MW CFPP project in North Sulawesi. While MCL has reached its Commercial Operation Date in July 1, 2021, GLP is scheduled to be operational or COD (Commercial Operation Date) in fourth quarter 2021. In 2018, the Company acquired 100% shares of PT Batu Hitam Perkasa (BHP) which held 5% ownership of PT Paiton Energy (PE), the largest IPP in Indonesia which operates three CFPP units with a total capacity of 2,045 MW in Probolinggo, East Java. In August 2021, its released its stake in PE as part of strategic sale and a move to reduce carbon footprint.

The Company has also ventured into clean energy through its subsidiary PT Toba Bara Energi (TBAE), by acquiring PT Adimitra Energi Hidro (AEH), which is involved in hydroelectric power plant development, and PT Bayu Alam Sejahtera (BAS), which is focused wind power plant development. In 2021, AEH has signed a sales and purchase agreement with PLN for the  2x3 MW Mini Hydro Power Plant (PLTM) project located on Sumber Jaya, Lampung.

The Company will continue to look for business development opportunities. Its future focus is on developing new and renewable energy and clean energy power plants, especially hydropower, wind turbine, solar panel and supporting businesses.