Pertamina plans in up to $2 billion investment into geothermal energy development
PT Pertamina is earmarking around USD 2 billion for investments into geothermal development in Indonesia over the next 6-7 years, while also exploring partnerships for development, e.g. with PT PLN.
During the EBTKE ConEx 2019 event in Jakarta last week, Pertamina Finance Director Pahala Mansury remarked that the company will earmark USD2 billion for the development of geothermal power plants in Indonesia in the coming six to seven years. This – so an article by Antara News – is in line with the company’s commitment to supporting the development of new and renewable energy and achieving a 23% renewables target in the energy mix by 2025.
This is though a small amount in comparison with the total investment of $80 billion required for the development of the company’s other business.
In his remarks, Pahala Mansury noted that Pertamina has opened up opportunities to increase the development of new and renewable energy in collaboration with strategic partners under a partnership scheme, including with state electricity company PT Perusahaan Listrik Negara (PLN) to produce electrical power and steam through Pertamina’s geothermal facilities.
By 2020, Pertamina will have an installed capacity of 67 GW of electrical power from geothermal energy. The company has targeted to raise the capacity to up to 100 GW in 2025.
Source: Antara News