Pertamina accelerating development with $644m budget for development in 2016
Pertamina Geothermal Energy is accelerating its geothermal development activities, budgeting $644 million for operations and business development in 2016.
Pertamina Geothermal Energy (PGE) is allocating $644 million for its geothermal operations and business development in 2016, as reported by Indonesia Business Daily.
Director of PGE Irfan Zainuddin said the funds budgeted to finance geothermal energy development projects are underway. As for the other projects, namely geothermal power plant (PLTP) Kamojang Unit 5 has been operating since this summer.
“The total requirement of next year US $ 644 million. For the business development of US $ 565 million and the rest for non-business development,” he said in Jakarta past Friday. He explained that the budget is part of a larger multi-year financing scheme for the complete project portfolio of PGE from 2015 to 2019. The overall budget for development for this period is $2.5 billion.
In addition to the geothermal power plant at Kamojang Unit 5 that has already been completed, Pertamina is implementing several other projects include the projects of Karaha Bodas 1×30 MW in West Java, Ulubelu 3 and 4 2×55 MW in Lampung, Lumut Balai 1 and 2 2×55 MW in South Sumatra, Lahendong 5 and 6 2×20 MW and small scale plants Lahendong 2×5 MW in North Sulawesi.
In addition, there is also Sibayak 1×5 MW in North Sumatra, Hululais 1 and 2 2×55 MW in Bengkulu and Full River 1 1×55 MW in Jambi. Overall the project has a total generating capacity of 505 MW.
Of the projects currently being worked on, the project at PLTP Lahendong 5 and 6 is expected to be completed ahead of schedule, in 2016 and 2017.
“Indonesia’s Ministry of Energy and Mineral Resources targeted the completion completion in 2017 and 2018. Now we estimate this could be accelerated,” he said.