Indonesia’s PGE aims to expand geothermal business to Africa
Geothermal pipes of Pertamina, Indonesia (source: zmiyatul.blogspot)
Carlo Cariaga
20 Jul 2023
The Pertamina CEO has announced plans to acquire geothermal blocks in Africa, with agreements set to be signed by August 2023.
Indonesia’s state-owned geothermal developer PT Pertamina Geothermal Energy (PGE) has announced the intention to acquire a geothermal working area in Africa with the goal of establishing a geothermal power plant. This announcement follows a working visit of PT Pertamina CEO Nicke Widyawanti to Africa as part of an Indonesian entourage headed by the Coordinating Minister for Investment exploring business opportunities abroad.
Specific details on the plan have not yet been revealed, but the signing of agreements between PGE and several African countries is planned for August 2023, around the time of the BRICS summit. The working visit took the entourage to several African countries including Kenya, Congo, and South Africa.
“It is planned that the President will attend and witness the signing of the agreement for investment cooperation in the geothermal sector,” Widyawanti further added.
The CEO also said that going global is one of the business growth strategies of the Pertamina Group. Aside from geothermal opportunities, Pertamina is also targeting the acquisition of oil and gas blocks in Africa via the Pertamina Hulu Energi (PHI) subsidiary.
PGE recently signed multiple partnership agreements notably with the Kaishan Group for the expansion of the company’s geothermal installed capacity utilizing waste heat and tail water, and with Chevron New Energies for a joint exploration of the geothermal sites in South Sumatra.
Source: Dunia Energi and Panas Bumi News
