PGEO - Secures IDR10.67 tn JICA loan

PGEO - Secures IDR10.67 tn JICA loan Pertamina Geothermal Energy (PGEO) has secured a USD700 mn loan (equivalent to IDR10.67 tn) from the Japan International Cooperation Agency (JICA) to fund the construction of Lumut Balai Unit 2, a 55 MW Geothermal Power Plant. This expansion aligns with PGEO's plan to reach a 1 GW capacity within two years by leveraging existing fields. With its current capacity at 672 MW, PGEO has the potential to add an additional 340 MW. This loan follows an Engineering, Procurement, Construction, and Commissioning (EPCC) agreement involving Mitsubishi Corporation, Wijaya Karya, and SEPCO Il Electric Power Construction for the Lumut Balai Unit 2 project in South Sumatra. The comprehensive turnkey contract encompasses design, manufacturing, civil construction, commissioning, performance testing, and warranties for the facilities, including the PLTP unit and fluid collection and injection system. These facilities are designed for over 30 years of operation and will supply clean, renewable energy to approximately 55,000 households in South Sumatra. This addition of 55 MW further solidifies PGEO's position as a major player in Indonesia's geothermal energy sector, with an expected total installed capacity of 727 MW. (Source: Bisnis Indonesia)