News

Indonesian PGE to invest US$130 m in geothermal in 2009

Alexander Richter 23 Feb 2009

Pertamina Geothermal Energy (PGE) intends to "spend US$130 million this year to finance development of a number of geothermal power projects.

In addition to a post from yesterday, another news piece related to PGE (Pertamina Geothermal Energy), which talks about that the company intends to “spend US$130 million this year to finance development of a number of geothermal power projects.

PGE President Abadi Poernomo said the subsidiary of state oil and gas company PT Pertamina was now developing the Ulu Belu geothermal power project in Lumut Balai and the fifth and sixth units of the Lahendong geothermal power plants in North Sulawesi.

Poernomo said that PGE was carrying out feasibility studies before seeking a loan fund from the World Bank to finance the project.”

Source: ANTARA News/ Asia Pulse)