Indonesia’s Pertamina unit to invest $2.5b on 7 geothermal projects

Visual from the company website

Indonesia geothermal power producer PT Pertamina Geothermal Energy (PGE), a unit of state-owned PT Pertamina, will invest $2,5 billion to develop seven geothermal projects, that may be commissioned by 2019.

By 2025, PGE targets a total geothermal capacity of 7,094.5 megawatts (MW) from 437 MW at present.

PGE President Director Irfan Zainuddin said, the company has set aside $644 million for capital expenditure in 2016.

Zainuddin elaborates that the funds to finance geothermal energy development projects come from World Bank and Japan International Cooperation Agency (JICA).

The Indonesia government is targeting to gradually replace fossil fuel-based power plants with renewable energy.

Under the current government programme to generate 35,000 MW, the government plants to build power plants based on renewable energy with total capacity 1,160 MW until 2019. Petramina unit will contribute a significant share of the target.

According to the Energy and Minerals Resources Ministry data, 40 per cent of geothermal reserves—potential reserves pf 27 gigawatt (GW)—and only 1.3 GW has been optimised.

PGE is involved in geothermal exploration and exploitation in 15 working areas in Indonesia: Sibayak-Sinabung, Sibual-buali–Sarulla, Sungai Penuh-Sumurup, Tambang Sawah-Hululais, Lumut Balai, Waypanas-Ulubelu, Cibereum-Parabakti, Pengalengan (Patuha-Wayang Windu), Kamojang-Darajat, Karaha-Telagabodas, Dieng, Iyang-Argopuro, Tabanan-Bali, Lahendong-Tompaso and Kotamobagu.

Also Read: Indonesia’s Pertamina, Saudi Aramco to invest $5.5b for upgrading Refinery Unit IV Cilacap

Indonesia’s Pertamina ties up with Go-Jek; to supply $340m worth diesel to Adaro

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
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