PGE Secures US$477.87 Million for 3 Geothermal Projects
JICA and World Bank funding backs 160 MW projects in Lumut Balai and Lahendong, with operations targeted to begin in 2030.
PT Pertamina Geothermal Energy Tbk secured international financing of US$477.87 million for three geothermal projects in Indonesia. The funds are allocated to PLTP Lumut Balai Unit 3 at US$158.86 million, Lumut Balai Unit 4 at US$148.97 million, and PLTP Lahendong Unit 7-8 at US$170.04 million. The two Lumut Balai units are financed by JICA, while the Lahendong project is funded by the World Bank. The three projects, with a combined capacity of 160 MW, are included in Bappenas' Green Book 2026, which opens access to concessional loans with lower interest rates and longer tenors. PGE aims to bring Lumut Balai Unit 3 and Lahendong Unit 7-8 into operation in 2030, while Lumut Balai Unit 4 is targeted for 2032.