JAKARTA - The issue of establishing a geothermal or geothermal SOE holding company has risen again. The government, through the Ministry of BUMN (State-Owned Corporation), is reportedly in the process of establishing it. The target is that this holding will be formed this year.
The holding consists of PT Pertamina Geothermal Energy (PGE), PT PLN Gas & Geothermal, and PT Geo Dipa Energi (Persero).
According to the Managing Director of Geo Dipa, Riki Firmandha Ibrahim, currently, the government is still working on it because this year there is a plan for PGE to take the floor on the Indonesian stock exchange or an initial public offering (IPO).
"If I am asked that it is not my portion. It means that I myself do not know for sure. More or less, the target is 2021. The government is working out what is optimal", he said in a virtual discussion at CNBC Indonesia, Monday, March 1.
According to him, the government will look for the right steps. Not only short-term but also long-term. This is because the government is targeting up to 7,000 megawatts of electricity generation from the new and renewable energy sector by 2025.
Furthermore, he said, the plan to form a geothermal holding company is good. Because it is an agency that is expected to be a solution to several obstacles in the geothermal industry.
The geothermal industry, according to Riki, has a major obstacle, namely the price issue which is always considered by PT PLN (Persero) as the only buyer of electricity from Geothermal Power Plants (PLTP).
Previously, PLN Mega Project Director M. Ikhsan Assaad confirmed the holding finalization target this year. He admitted that his party had received directions from the majority shareholder.
"Indeed, Minister Erick's direction is that the plan to form a Geothermal Holding, consisting of PLN, then also Pertamina, we also have a subsidiary PLN Geothermal, then Geo Dipa, the plan is to finish this year", he said on February 22.
Responding to Erick Thohir's direction, the management of the two companies has conducted several meetings. In the initial discussion, both of them described the assets of their respective subsidiaries. It also discusses the Capital Expenditure (Capex) for the company's subsidiary.
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