PGEO Expands into Hydrogen Fuel Cell Generator Rental Business
PT Pertamina Geothermal Energy Tbk (PGEO) plans to enter the hydrogen fuel cell generator rental market to diversify its revenue streams. This initiative aligns with Indonesia's energy transition goals and supports the company's core geothermal activities.
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PT Pertamina Geothermal Energy Tbk (PGEO) is set to introduce a new business segment focused on hydrogen fuel cell generator (HFCG) rentals, pending shareholder approval at the Annual General Meeting on April 21, 2026. The initiative will encompass the supply, installation, operation, maintenance, and technical support of HFCG units, classified under KBLI 77395 for machinery leasing.
PGEO aims to leverage this technology to enhance its renewable energy portfolio and support Indonesia’s energy transition. Initial market opportunities will target Pertamina Group entities, with a positive feasibility study indicating an NPV of IDR 6.40 billion and an IRR of 110.83%. While the business holds potential, associated operational and safety risks will be managed through stringent safety standards and experienced partnerships.
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