Indonesia’s Pertamina unit to invest $2.5b on 7 geothermal projects

Indonesia geothermal power producer PT Pertamina Geothermal Energy (PGE), a unit of state-owned PT Pertamina, will invest $2,5 billion to develop seven geothermal projects, that may be commissioned by 2019.

By 2025, PGE targets a total geothermal capacity of 7,094.5 megawatts (MW) from 437 MW at present.

PGE President Director Irfan Zainuddin said, the company has set aside $644 million for capital expenditure in 2016.

Zainuddin elaborates that the funds to finance geothermal energy development projects come from World Bank and Japan International Cooperation Agency (JICA).

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Posted December 1, 2015 by repit in News

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