Jakarta (ANTARA) - PT Pertamina Geothermal Energy Tbk (PGE) has prepared a capital expenditure (capex) budget of US$250 million in 2023.
PGE Finance Director Nelwin Aldriansyah noted in a statement obtained here Tuesday that the 2023 capital expenditure budget rose 316.67 percent year-on-year (yoy) as compared to only US$60 million recorded in the previous year.
"The use of capital expenditure in 2023 includes for the maintenance and operation of existing geothermal working areas, the construction of an additional 55-megawatt (MW) power plant in the Lumut Balai Working Area (WK), and the construction of additional supporting infrastructure," Aldriansyah remarked.
He said the Lumut Balai Unit 2, which is currently under construction, is expected to commence commercial operations in 2024.
PGE is a business entity of state energy firm PT Pertamina (Persero) under the Pertamina New & Renewable Energy (Pertamina NRE) sub-holding.
The company is preparing an investment of US$1.6 billion in the next five years to increase its installed capacity by 600 MW, from 672 MW in 2022 to 1,272 MW in 2027.
"The key to supporting the company's revenue growth is the increase and growth of its installed capacity. To support the 600-MW increase of its self-operated installed capacity, the company has planned a new investment, with a total value of US$1.6 billion," he stated.
Furthermore, in 2024, PGE is preparing new investments worth US$350 million, thereby bringing the company's total investment to US$1.6 billion from 2023 to 2027.
The Directorate General of New, Renewable Energy and Energy Conservation (EBTKE) of the Ministry of Energy and Mineral Resources noted that the actual installed capacity of new renewable energy sources (EBT) had reached 12,557 MW by 2022, surpassing the target of 12,529 MW.
Of the total capacity, 8,680 MW are on-grid EBT-generated power plants connected to the PLN electricity network, while the remaining 3,877 MW are off-grid EBT-generated power plants.
ThinkGeoEnergy reported that the global installed geothermal power capacity had reached 16,127 MW in 2022.
The United States recorded the largest installed geothermal power capacity of 3,794 MW, followed by Indonesia, with 2,356 MW, and the Philippines, with 1,935 MW.
Of the total installed geothermal power capacity in Indonesia, PGE currently manages 13 geothermal working areas, with a total installed capacity of 1,877 MW, of which 672 MW is under its own operation and 1,205 MW is through joint operation contracts.
Geothermal supply for the PGE-operated geothermal power plant (PLTP) was sourced from six areas: Kamojang in West Java, 235 MW; Lahendong in North Sulawesi, 120 MW; Ulubelu in Lampung, 220 MW; Sibayak in North Sumatra, 12 MW; Karaha in West Java, 30 MW; and Lumut Balai in South Sumatra, 55 MW.
Related news: PGE to increase GPP capacity in South Sumatra for NZE
Related news: Pertamina turns to nature-based solutions to balance climate, energy
Pertamina Geothermal prepares US$250 million of budget for capex
21st March 2023