PT Pertamina Geothermal Energy Secures US$477.87 Million for Three Projects
PT Pertamina Geothermal Energy Tbk (PGEO) has received international funding support amounting to US$477.87 million for three geothermal projects included in Indonesia's Green Book 2026. This funding will enhance project viability and competitiveness while contributing to Indonesia's energy transition goals.
Theia Market Signal Identification - AI Assisted
PGEO's three projects—PLTP Lumut Balai Unit 3 (55 MW), PLTP Lumut Balai Unit 4 (55 MW), and PLTP Lahendong Unit 7-8 (50 MW)—are slated for development with a total loan value of US$477.87 million, sourced from JICA and the World Bank. The company reported a 40% increase in net income to US$43.90 million as of March 31, 2026, alongside a 14.8% rise in revenue to US$116.56 million year-over-year.
In 2025, PGEO achieved an all-time high electricity production of 5,095 GWh, projecting further growth with a 15.22% increase in Q1 2026. The inclusion of these projects in the Green Book is expected to secure competitive debt costs and enhance project economics, aligning with PGE's roadmap for developing geothermal capacity up to 3 GW. This development will support Indonesia's energy supply and strengthen its renewable energy portfolio.
Comments