PT Adaro Energy Indonesia Tbk (AEI) is an integrated mining, energy, and minerals company established in 2004 under the name PT Padang Karunia. July 16, 2008 marked the maiden trading day of the company’s stock on IDX as ADRO, after completing one of the largest IPOs in Indonesian capital market history with Rp12.2 trillion ($1.3 billion) of IPO proceeds. Along with the company’s growth, by the end of 2022, AEI’s market capitalization had grown to $7.9 billion, or a 61% increase from $5 billion at the end of 2021.

 The company pursues the vision to be a leading Indonesian mining and energy group first by building a solid and complete range of vertically integrated supply chain from coal pits to power plants (pit to power), and then extending the existing supply chain toward green businesses. Along the pit to power supply chain, AEI has set up subsidiaries to handle vital operations for securing control over product quality, reliability, and cost efficiency, in addition to leveraging the synergy among these companies’ operations to generate revenues from third parties. These subsidiaries are also prepared to buffer coal cycles through the earnings made from projects carried out with carefully selected strategic partners. On the other side, the extended green business supply chain is being developed to support and capture the opportunities from Indonesia’s green economy being massively developed. While the pit-to-power supply chain was previously classified into eight pillars of growth, at the end of 2022, the management announced the new growth pillars’ classification: Adaro Energy, Adaro Minerals, and Adaro Green pillars, to organize the businesses more effectively after the addition of the green business segment to the portfolio