PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) welcomes the government's initiative to utilize green energy. In order to encourage the national energy mix transformation agenda, the government through the PLN Electricity Supply Business Plan (RUPTL) has set a target to expand the capacity of New and Renewable Energy (EBT) generators by 76% in the 2025-2034 period.
During this period, the power generation capacity is targeted to increase by 69.5 GW. Of this amount, 42.6 GW will come from EBT generators, and 10.3 GW from energy storage systems. Geothermal itself is targeted to contribute a capacity of 5.2 GW.
PGE assesses that the direction of this national policy is on the same track as the Company's vision and mission. In supporting this national target, PGE continues to be committed to maintaining the momentum of accelerated growth as part of its contribution to the energy mix.
President Director of PT Pertamina Geothermal Energy Tbk Julfi Hadi emphasized that increasing the portion of EBT in national electricity generation is a strategic step to encourage energy self-sufficiency. No less important, this policy will also strengthen the economic chain based on domestic resource potential.
"Therefore, PGE is ready to actively contribute to providing reliable local (indigenous) energy, driving the local and regional economy, while supporting the achievement of national targets through the development of key projects," said Julfi.
Several key PGE projects to achieve these targets include the development of Lumut Balai Unit 2 (55 MW), Hululais Unit 1 & 2 (110 MW), and a number of co-generation projects with a total capacity of 230 MW.
The Lumut Balai Unit 2 geothermal project is targeted to start operating in the middle of this year and will contribute to PGE's additional installed capacity. In addition, PGE is also preparing geothermal exploration in Seulawah, Kotamobagu, and Gunung Tiga.
With more than 40 years of experience, PGE is targeting an increase in installed capacity from 672 MW to 1 GW in the next two years, and 1.7 GW in 2034. In addition, the company has identified potential reserves of 3 GW from 10 Geothermal Working Areas (WKP) that it manages itself.
Based on the financial report ending on March 31, 2025, PGE showed positive performance by recording solid financial performance throughout the first quarter of 2025. PGE managed to record revenue of US$101.51 million throughout the period. PGE's financial report confirms its commitment to encouraging the presence of a sustainable energy ecosystem by ensuring the acceleration of the energy transition and achieving national energy sovereignty through the utilization of geothermal energy.
