Three Pertamina Geothermal projects in Indonesia receive $477 million in international financing
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Three geothermal power projects by Pertamina Geothermal Energy in Indonesia will be receiving $477 million in financing from JICA and The World Bank.
Three geothermal power projects in Indonesia by state-owned developer and operator PT Pertamina Geothermal Energy (PGEO) are set to receive international financing with a total of USD 477.87 million.
More specifically, the project set to receive funding are as follows:
- Lumut Balai Unit 3 (55 MW, COD target by 2030) will receive USD 158.86 from the Japan International Cooperation Agency (JICA)
- Lumut Balai Unit 4 (55 MW, COD target by 2032) will receive USD 149.87 from JICA
- Lahendong Units 7-8 (2 x 20 MW, COD target by 2030) will receive USD 170.04 from the World Bank.
These three projects had previously been included in the 2025-2029 Blue Book of the Ministry of National Development Planning (PPN / Bappenas), thus making them eligible to obtain foreign funding through concessional loan schemes. They were then also included in the 2026 Green Book by the same agency. This sets them as priority projects for foreign loans for 2026.
A prior update from PGEO indicated that infrastructure work had already commenced in preparation for drilling for Lumut Balai Unit 3. Technical documents for Lahendong Units 7-8 have also been submitted to PT PLN as part of the evaluation process for the signing of PPAs.
In a written statement, PGEO President Director Ahmad Yani the access to international funding sources helps to maintain a healthy funding structure for the company, and gives the projects increased visibility for potential strategic partners and global funding institutions.
Source: Kompas.com
