PGEO – To continue the expansions projects in 2024

PGEO – To continue the expansions projects in 2024 Pertamina Geothermal Energy (PGEO) plans to continue its expansion with the addition of capacity to the Lumut Balai and Lahendong projects in 2024. The plan includes EPCC activities for Lumut Balai unit 2, which is expected to add 55 MW to PGEO's capacity, along with the development of Lahendong units 7 and 8, each with a capacity of 2x20 megawatts. The Lumut Balai unit 2 project, with a total investment value of USD700 mn (around IDR10.5 tn), will be financed by a loan from the Japan International Cooperation Agency (JICA) amounting to 26.966 bn yen (or IDR2.83 tn) and the remaining funds from the IPO. Note that, PGEO plans a capex of USD550 mn for 2024, aiming to achieve the goal of adding 1 gigawatt of capacity within two years. (Source: Bisnis Indonesia)