PGE eyes up to $430 million investment into geothermal in 2017
Pertamina Geothermal Energy earmarks up to $430 million of investment into geothermal development in Indonesia for 2017.
In connection with the inauguration of three geothermal power plants before the new year, President Director of PT Pertamina Geothermal Energy (PGE) Irfan Zainuddin revealed a number of projects to be undertaken by PGE and its expected investment volume.
He reported on the plans of the company ahead of the inauguration of the Ulubelu and Lahendong units on December 26, 2016.
According to him, geothermal production by PGE will increase significantly through the new plants and the additional units earmarked for further development in 2017. The investment volume allocated by PGE for geothermal development is around $430 million or around Rp 5.59 trilion.
In 2017, there are a number of PGE project with financing from JICA (Japan International Corporation Agency), for example in Lumut Balai.