PT Pertamina Geothermal Energy (PGE) has announced a $250m capital expenditure budget for 2023, a 316.7% increase from the $60m recorded in the previous year. The funds will go towards maintaining and operating existing geothermal working areas, constructing an additional 55 MW power plant in the Lumut Balai working area and building “additional supporting infrastructure.” PGE is part of state firm PT Pertamina (Persero), which is preparing an investment of $1.6bn over the next five years to increase installed capacity by 600 MW, from 672 MW in 2022 to 1,272 MW in 2027. PGE currently manages 13 geothermal working areas in Indonesia.
