Friday, April 19, 2024

Pertamina Geothermal Energy explores global expansion with Turkish partnership

Reading Time: 2 minutes
Journalist IBP

Journalist

Editor

Interview

PT Pertamina Geothermal Energy Tbk (PGE) has signed a Non-Disclosure Agreement (NDA) with Kipas Holding, one of the geothermal developers in Turkey. This collaboration signifies PGE’s commitment to exploring business expansion opportunities in the global market.

Julfi Hadi, President Director of PT Pertamina Geothermal Energy, said that the company continues to explore collaboration opportunities with geothermal developers in various countries, including Turkey.

“The Turkish government’s policies regarding geothermal energy have a significant impact on business development in the country. The Turkish government offers clear feed-in-tariffs that are highly beneficial for long-term foreign investments,” Julfi said on Monday, February 5, 2024.

Julfi hopes that PGE’s visit to Turkey, a country with the fastest geothermal growth globally, will open up more collaboration opportunities. In addition to Turkey, last year, PGE also began exploring geothermal development collaboration in Kenya.

“In the future, PGE is committed to exploring more opportunities with reputable geothermal developers, considering their financial aspects, management, installed capacity, and expertise in geothermal fields,” he added.

Meanwhile, Mehmet Sisman, the General Manager of Kipas Holding, hopes that this collaboration will yield positive results through the exchange of information and experiences to enhance the geothermal energy sector in both Turkey and Indonesia.

Achmad Rizal Purnama, Indonesian Ambassador to Turkey, appreciates the collaboration undertaken by PGE. Achmad believes that Turkey deserves consideration in the future planning of geothermal development.

“Factors such as the privatization of the geothermal sector and attractive incentives for investors, especially through feed-in tariff schemes, contribute to ensuring that the products produced by developers are absorbed with viable economics,” Achmad Rizal said.

PGE’s Geothermal Project in Kenya, Worth IDR 18.5 Trillion

Earlier, PGE announced a partnership for the Suswa geothermal field between the Geothermal Development Company (GDC) and Masdar, one of PGE’s shareholders. This joint statement was announced by President of the Republic of Kenya, William Ruto.

The goal of this joint statement is to accelerate the development of the Suswa geothermal field, with initial project infrastructure starting soon.

“This partnership, with an investment value of US$1.2 billion (approximately IDR 18.5 trillion), is intended for the development of 300 MW of geothermal power by 2030. The initial project infrastructure will begin shortly,” said William Ruto in December 2023.

Julfi Hadi stated that the company actively collaborated with all stakeholders to accelerate geothermal development. Currently, PGE actively collaborates with ESG-focused financial institutions to finance new geothermal projects.

“PGE is also exploring new arrangements to supply environmentally friendly electricity to customers, making geothermal electricity more accessible,” said Julfi.

Journalist IBP

Journalist

 

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

Indonesian Defense Minister Prabowo Subianto received a courtesy call from Chinese Foreign Minister Wang Yi at the Ministry of Defense in Jakarta on Thursday, April 18, 2024.
Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM), Tutuka Ariadji, reveals that Venezuela has offered several prospective oil blocks to Indonesia, but the United States’ embargo on Venezuela remains a constraint for further acquisitions in the country.
President Joko “Jokowi” Widodo met with Minister of Foreign Affairs of the People’s Republic of China (PRC) Wang Yi at Merdeka Palace, Jakarta, on Thursday, 18 April 2024. 
Minister of Communication and Informatics, Budi Arie Setiadi, has revealed that a top executive of another U.S. tech giant will soon visit Indonesia days after Apple Inc.’s boss, Tim Cook, made the visit here on Wednesday.
Indonesia and China have expressed their concern about the evolving situation in the Middle East related to escalating Iran-Israel conflict and Palestinian issues. 
Chairman of the Advisory Board of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Bakrie, held a meeting with Mouvement des Entreprises de France (MEDEF) in Paris on Saturday (April 14, 2024), to explore various collaboration opportunities, particularly in downstream industries.