JAKARTA -  PT Pertamina Geothermal Energy Tbk (PGEO) is pursuing the national energy mix target of 23% and renewable energy by 2025.

Julfi Hadi, President Director of PGEO, stated that the company continues to expand its geothermal project portfolio by developing new Geothermal Work Areas (WKP) to increase its contribution to the national energy mix target. "Looking towards 2025, the company is optimistic about growth prospects with the planned commissioning of Lumut Balai Unit 2, with a capacity of 55 MW, this year," he said in a disclosure on Friday (April 4).

According to him, this additional energy capacity will strengthen the green energy portfolio, boost revenue, and enhance competitiveness to meet the growing demand for clean energy.

Meanwhile, this subsidiary of PT Pertamina reported revenues and profits of US$407.12 million and US$160.30 million, respectively, in 2024. In comparison, revenues and profits for 2023 were recorded at US$406.29 million each.

Yurizki Rio, PGEO's Finance Director, explained that the company maintains healthy profitability, strong operational cash flow, and cost management efficiency. "The company focuses on prudent and optimal financial management to ensure sustainable investment in the development of new geothermal projects and increased production," he said. (LK/LM)