PGEO — Plans for inorganic expansion through acquisitions

PGEO — Plans for inorganic expansion through acquisitions Pertamina Geothermal Energy (PGEO) plans to expand its geothermal capacity through the acquisition of domestic and international geothermal power plants (PLTP) with a total capacity of 175 MW by 2025. PGEO is currently evaluating the geothermal potential of the Sorik Marapi WKP, developed by KS Orka Renewables, before finalizing the acquisition. However, PGEO has not yet disclosed specific assets or transaction values. Note that, PGEO reported a net profit of USD96.27 mn (+3.77% yoy), despite a slight revenue decline of 1.43% yoy in 1H24. (Source: Kontan)