FRANKFRUT - President Director of PT Pertamina Geothermal Energy (PGE) Ali Mundakir fulfilled the invitation to attend as the keynote speaker at the IGC Invest Geothermal - Geothermal Finance & Investment Forum event organized by the World Bank and International Geothermal Association (IGA), in Frankfurt, Germany.
President of the International Geothermal Association (IGA) Alexander Richter conveyed, Indonesia is the country that has the largest geothermal energy source in the world. Therefore, IGA greatly appreciates and supports PGE's commitment and efforts in developing geothermal energy in Indonesia. According to Richter, in the midst of the dynamics and challenges of geothermal development in Indonesia, PGE continues to develop and breakthrough both technically and financially for the creation of environmentally friendly energy for Indonesia and the world. Therefore, PGE is believed to be the main speaker before a delegation of 17 countries present.
PGE is considered very experienced in geothermal exploitation in Indonesia, both technically and in its financing portfolio. One of them is by utilizing software from the World Bank for EPCC Lahendong Unit 5 & 6 PLTP and Ulubelu Unit 3 & 4 PLTP and from Japan International Cooperation Agency (JICA) for EPCC PLTP Lumut Balai Unit 1 & 2. On that occasion, PGE President Director Ali Mundakir presented the material on the PGE Financial Structure of Geothermal Development Project - Case Study. Ali conveyed, PGE received support and commitment from PT Pertamina (Persero) as the parent company in developing geothermal business in Indonesia.
"Pertamina allocates investment funds worth a total of around USD 2.7 billion by 2026 to reach a installed capacity of 1,112 MW in 2026," he explained.
He also explained a case study about the speed of return on investment in four projects of four PGE geothermal projects funded 100% by Pertamina and softloans from the World Bank and JICA. Ali also hopes that geothermal power technology providers will continue to reduce prices per Megawatt (MW) amidst the competitive decline in prices for other Renewable Energy generator technologies, such as diesel and wind. This is so that PT PGE's geothermal development in Indonesia can be more competitive and accelerated.
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