Friday, July 12, 2024

PT Pertamina Geothermal Energy, GDC, and Masdar join forces for US$ 1.2 billion Suswa Geothermal field project in Kenya

Reading Time: < 1 minute
Journalist IBP

Journalist

Editor

Interview

PT Pertamina Geothermal (PGE) has announced a strategic partnership with Geothermal Development Company (GDC) and Masdar, one of PGE’s shareholders, to develop the Suswa geothermal field in Kenya. The joint statement was made by H.E. William Ruto, the President of the Republic of Kenya.

The primary objective of this collaboration is to expedite the development of the Suswa geothermal field, with initial infrastructure for the project set to commence soon.

“This partnership, with an investment value of US$ 1.2 billion, aims to develop 300 MW of geothermal power by 2030. The initial infrastructure for this project will begin soon,” shared President William Ruto on December 6, 2023.

Julfi Hadi, President Director of PT Pertamina Geothermal Energy Tbk, expressed PGE’s active collaboration with all stakeholders to fast-track geothermal development. 

PGE is actively engaging with ESG-focused financial institutions to secure funding for new geothermal projects.

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

Highlighting geothermal energy’s potential, Julfi mentioned its capability to significantly contribute to reducing carbon emissions in Indonesia’s industrial sector. 

Geothermal energy stands out due to its high availability compared to other renewable sources and controllability.

“In addition to its vast potential in Indonesia, geothermal energy can serve as a green baseload for the industrial sector, positioning itself as a key strategic renewable energy source,” he added.

Mari Elka Pangestu, Indonesia’s Special Envoy for the Global Blended Finance Alliance (GBFA), emphasized the critical role of Indonesia’s substantial geothermal potential in the nation’s efforts to decarbonize the power generation and industrial sectors.

“Collaboration and investment, particularly from the private sector, are essential to accelerate decarbonization across various sectors. The implementation of blended finance mechanisms is crucial in this regard,” stated Mari.

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

Minister of Manpower, Ida Fauziyah, has revealed that the Indonesian government is working to strengthen labor cooperation with the People’s Republic of China.
Dadan Kusdiana, Secretary General of the Ministry of Energy and Mineral Resources (ESDM) and David Fredericks, Secretary of the Australian Department of Climate Change, Energy, Environment & Water (DCCEEW) on Tuesday, July 2, 2024,signed a Memorandum of Understanding (MOU) on efforts to strengthen bilateral cooperation on energy transition.
President Joko “Jokowi” Widodo has instructed his cabinet ministers to expedite the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) before the State leadership transition in October this year.
The Ministry of Foreign Affairs and Commission I of the House of Representatives (DPR) have agreed to establish a Working Committee (Panja) to discuss and finalize five defense cooperation bills with India, France, Cambodia, Brazil, and the United Arab Emirates (UAE).
Minister of Transportation Budi Karya Sumadi says Indonesia is determined to ratify the 12th Protocol on Air Transport Services Commitments within the ASEAN Framework Agreement on Services, having so far ratified up to the 8th protocol.
A delegation of the Indonesian Coordinating Ministry for Political, Legal, and Security Affairs went on a visit to Cambodia on June 11-15, 2024 to strengthen cooperation on the protection and handling of Indonesian citizens allegedly involved in online gambling and scam.