Jakarta, June 5, 2026 – PT Pertamina Geothermal Energy Tbk (PGE)'s (IDX: PGEO) strategic geothermal projects have received international funding support. This support was obtained after three of the Company's projects were included in the 2026 Green Book issued by the Ministry of National Development Planning/National Development Planning Agency (Bappenas). This achievement reflects the project's readiness to enter the next development phase, as the Company's business and operational performance continues to show positive growth.
Based on the financial report as of March 31, 2026, PGE recorded a 40 percent increase in net profit to US$43.90 million, compared to US$31.35 million in the same period the previous year (YoY). The Company also posted revenue of US$116.56 million, a 14.8 percent increase compared to US$101.507 million in the same period the previous year. This growth was driven by the effectiveness of the Company's sustainable business strategy.
The positive performance was supported by consistent production growth. In 2025, PGE recorded an all-time high, with total production reaching 5,095 gigawatt hours (GWh), a 5.55 percent increase compared to 4,827 GWh in 2024. This positive trend continued in the first quarter of 2026, when electricity production increased 15.22 percent year-on-year to 1,370 GWh.
PGE President Director Ahmad Yani stated that amid the growing need for clean energy and global energy security challenges, the inclusion of the Company's projects in the 2026 Green Book by Bappenas (National Development Planning Agency) recognizes the projects' readiness to enter the next phase of development.
"We see the Company's positive performance as further strengthening investor confidence in the business prospects and development of PGE's projects. In addition to opening up opportunities for access to various international funding sources that can support accelerated project realization, this achievement also increases the visibility and attractiveness of the Company's projects to potential strategic partners and global funding institutions. We are optimistic that the strengthening of business fundamentals, supported by a more mature project portfolio, will be a crucial foundation for the Company's sustainable growth while supporting the national energy transition agenda," said Ahmad Yani.
The three projects include the Lumut Balai Unit 3 Geothermal Power Plant (PLTP) (55 megawatts/MW), the Lumut Balai Unit 4 Geothermal Power Plant (PLTP) (55 MW), and the Lahendong Unit 7-8 Geothermal Power Plant (PLTP) (50 MW).
With the inclusion of these three projects in the Green Book, the funding obtained is expected to help the Company maintain a competitive cost of debt while improving the long-term economic viability of the projects.
"In addition to helping maintain a healthy funding structure and a competitive cost of debt, the inclusion of these three projects also has the potential to improve the project's economic viability, thereby providing sustainable added value for the Company and its stakeholders," said Ahmad Yani.
The 2026 Green Book, officially known as the 2026 Foreign Loan Priority Plan List, lists national projects that have successfully secured foreign funding commitments, coordinated by the Indonesian Government through various international development partners. The list was compiled based on Decree of the Minister of National Development Planning/Head of the National Development Planning Agency No. Kep. 52/M.PPN/IIK/06/2026.
Previously, these projects were included in the 2025–2029 Medium-Term Foreign Loan Plan List (Blue Book) of Bappenas, having met the required technical, financial, environmental, and institutional readiness requirements. The projects' inclusion in the Green Book marks an important milestone towards implementation and continued development.
The three projects are listed in the on-lending scheme through concessional loan financing, which offers more attractive interest rates and longer terms than commercial financing. The total loan value listed in the 2026 Green Book reaches US$477.87 million, as follows:
- Lumut Balai Geothermal Power Plant Unit 3 (target COD 2030): US$158.86 million from JICA
- Lumut Balai Geothermal Power Plant Unit 4 (target COD 2032): US$148.97 million from JICA
- Lahendong Geothermal Power Plant Units 7–8 (target COD 2030): US$170.04 million from the World Bank
These three projects are part of PGE's roadmap to develop geothermal potential up to 3 gigawatts (GW). Once operational, these projects will increase the supply of low-emission electricity and strengthen geothermal's role in the national energy mix.
The Lumut Balai Geothermal Power Plant Unit 3 and Lumut Balai Geothermal Power Plant Unit 4, located in Muara Enim Regency and Ogan Komering Ulu Regency (OKU), South Sumatra Province, will expand PGE's geothermal development in the Sumatra region. Both projects also have Power Purchase Agreements (PPAs) supporting their development prospects.
