PGE Notes Possible Business Expansion Overseas

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Pertamina Geothermal Energy Tbk or PGE plans to become a world-class renewable energy company by expanding its business abroad after conducting an initial public offering (IPO).

"We will take advantage of this opportunity if any of our big dreams of becoming a world class green energy company and carrying the Indonesian flag to be flown in the world's clean energy world if there is opportunity and according to strategy, of course we will consider it," said PGE President Director, Ahmad Yuniarto, quoted Wednesday, February 22.

Ahmad explained that PGE's position is currently the holder of the Working Area (WK) and the largest geothermal permit in Indonesia has 13 WK and spreads from Sumatra, Java, Bali and North Sulawesi.

"This broad distribution puts PGE in a very good position to anticipate the growing need for renewable energy in various regions in Indonesia," continued Ahmad.

He added, at the same time, because geothermal resources are Indonesia's original resources, the development of these resources will make an important contribution to fostering energy security in Indonesia, not only nationally but also able to strengthen energy security in the province where resources exist.

"Thus, having a WK spread across all regions in Indonesia, we will have the opportunity to be directly involved in strengthening Indonesia's energy both locally and nationally. At the same time, it also meets the needs of clean energy," explained Ahmad.

He continued, with many WKs, PGE was involved in providing up to 1.8 Gigawatts (GW) of geothermal electricity or about 80 percent of the total installed capacity in Indonesia.

"Of the 1.8, we operate 672 ourselves, then 1.2 GW we work on it with our operating partners," he added.

Ahmad further added that PGE's WK also varies, among others, in the early stage of exploration phase, development phase and there are several WKs that have been producing.

"This results in 672 MW which we operate on our own and 1.2 which we operate with operations partners," added Ahmad.

Ahmad revealed, of the 13 WKs owned, PGE has plans to add 600 MW within the next 5 years.

"Thus, now PGE is actually one of the largest geothermal companies not only in Indonesia but also globally. Plus the development plan will further strengthen PGE's position as one of the most promising geothermal companies in the world," concluded Ahmad.