PGE brings forward development of 105 MW geothermal projects
The Indonesian geothermal producer reported record output of 4,114 GWh for January–September 2026, an increase of 9.86 per cent from a year earlier.
PT Pertamina Geothermal Energy Tbk (PGE) said it is accelerating development of five geothermal projects totalling 105 MW as it pursues a capacity target of 1 GW by 2028. Those projects had been scheduled to enter operation after 2028.
PGE has selected 12 developments with a combined capacity of 320 MW to support that target, including the five being accelerated. The company independently manages 727 MW of installed capacity and has set a further goal of 1.8 GW by 2033.
President director Ahmad Yani said faster progress on priority projects, greater investment readiness and better use of operating assets would support the expansion. He cited record generation and financial growth through September 2026 as reasons for confidence in the capacity goal.
Electricity generation reached 4,114 gigawatt hours (GWh) during January–September 2026, which PGE described as its highest-ever output. Production increased 9.86 per cent year on year.
For the third quarter of 2026, PGE reported net profit of US$126.62 million, a rise of 21.45 per cent year on year. Revenue grew 10.46 per cent to US$352.20 million, while EBITDA increased 15.58 per cent to US$287.77 million.
Beyond the developments supporting its 2028 goal, PGE said its geothermal portfolio offered potential capacity of up to 3 GW. That portfolio includes projects with electricity purchase agreements or steam sales contracts, alongside work to optimise existing assets and develop new sites.
