Regarding The IPO Of PGE, Minister Of Energy And Mineral Resources: Indonesia Needs Companies That Falls Into Clean Energy

Minister of Energy and Mineral Resources Arifin Tasrif (Photo: Doc. Antara)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif also attended the initial public offering (IPO) of PT Pertamina Geothermal Energy Tbk (PGEO).

In his remarks, Arifin said that Indonesia still needs energy companies to enter the field of clean energy and new renewable energy (EBT). According to Arifin, Indonesia still has many potentials and opportunities that can be used to encourage national energy independence and encourage EBT for domestic needs.

"There are still very many opportunities that can be utilized. For this reason, PGE remains confident and develops management capabilities so that the company can develop, it can become a role model," said Arifin in his remarks on the Indonesia Stock Exchange, Friday, February 24.

Arifin explained that the potential developed by PGE is only 687 megawatts (MW), but the opportunity to develop geothermal energy is still very large because Indonesia's geothermal potential ranks second largest in the world.

"If you say the capacity of this PGE is only 680 MW, I say this is just, but there are still dozens of gigawatts in the country," explained Arifin.

Arifin also supports PGE to not only utilize geothermal energy but also other potential new and renewable energy.

Arifin estimates that by 2060 Indonesia will need more than 500 GW of EBT capacity by 2060, of which 50 percent comes from solar energy, and the rest is still many other potentials such as water, wind, and geothermal.

"In addition to hydro onshore, we still have the potential of the sea, thermal energy. So because as the basic geothermal capital the work is complicated, if we can do complicated work, the others are not complicated anymore," said Arifin.

The same thing was conveyed by the President Director of PT Pertamina (Persero) Nicke Widyawati. Nicke invites all parties to support PGE's corporate action to carry out PO because Indonesia has great energy potential for ebrsih.

"Indonesia is number two in the reserve world, can we not develop it? This energy independence will be maintained if we use natural resources owned by Indonesia, one of which is geothermal which other countries do not have and this is clean and reliable," concluded Nicke.

Just so you know, this corporate action was carried out to support the Company's plan to develop the Company's installed capacity of 600 MW until 2027.

"The company targets to increase its self-operated installed capacity base, from 672MW to 1,272MW in 2027," said President Director of PT Pertamina Geothermal Energy Tbk Ahmad Yuniarto.