State oil and gas company PT Pertamina will allot US$2 billion (Rp27 trillion) for the development of geothermal facilities in the coming six to seven years.
The amount mirrored the company's commitment to supporting the development of new and renewable energy and achieving the 23 percent renewable energy mix target by 2025, Pertamina Finance Director Pahala Mansury remarked during the EBTKE ConEx 2019 in Jakarta on Thursday.
However, he noted that Pertamina has opened up opportunities to increase the development of new and renewable energy in collaboration with strategic partners under a partnership scheme, including with state electricity company PT Perusahaan Listrik Negara (PLN) to produce electrical power and steam through Pertamina's geothermal facilities.
By 2020, Pertamina will have an installed capacity of 670 megawatts of electrical power from geothermal energy. The company has targeted to raise the capacity by up to 100 megawatts in 2025.
