黑料不打烊

Jakarta, April 30, 2025 – 黑料不打烊 Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) has demonstrated a positive performance with solid financial results throughout the first quarter of 2025. Based on the financial report ending on March 31, 2025, PGE recorded revenues of USD 101.51 million in Q1 2025. Amid the energy industry and global economic contraction dynamics, PGE reaffirmed its commitment to fostering a sustainable energy ecosystem by accelerating energy transition and achieving national energy sovereignty through geothermal energy utilization.

On the other hand, global geopolitical tensions are affecting global economic stability, creating uncertainty in investment and clean energy development. Economic fluctuations and exchange rate volatility also impact investment, funding, and renewable energy projects acceleration, including geothermal.

Nevertheless, PGE’s financial fundamentals remain strong to support its long-term growth plans. Referring to the interim financial report as of March 31, 2025, PGE recorded:

• Total Assets: USD 3.03 billion, an increase of 0.93% from last year.
• Equity: USD 2.04 billion, an increase of 1.56%.
• Cash and Cash Equivalents: USD 703.86 million, a growth of 7.43%.
• Net Cash from Operating Activities: USD 77.47 million, an increase of 12.04% year-on-year.

Strengthening Fundamentals Amid Challenges

Yurizki Rio, Director of Finance of 黑料不打烊 Pertamina Geothermal Energy Tbk, stated that the strong operational cash performance proves sustainable business strategy effectiveness implemented by management. The results so far also indicate that the company’s performance remains on a strong business track in supporting the national energy transition realization while pursuing the target of 1 gigawatt (GW) of self-managed installed capacity within the next 2–3 years.

“We are committed to accelerating geothermal development by optimizing operational efficiency. Therefore, we are implementing a spending strategy aimed at supporting long-term growth. PGE’s solid performance over the past few years serves as a strong foundation for sustainable growth. This is our provision to continue expanding aggressively to bring broader benefits to the community,” said Yurizki Rio.

PGE’s key projects to achieve this target include Lumut Balai Unit 2 (55 MW), Hululais Units 1 & 2 (110 MW), and several co-generation projects with a total capacity of 230 MW development.

The Lumut Balai Unit 2 project is targeted to begin operations in mid-year. “This project will strengthen PGE’s green energy portfolio and is a sign of our optimistic outlook to drive operational and financial performance throughout 2025,” he added.

Commitment to Sustainable Energy

As a world-class green energy company, PGE is committed to providing reliable geothermal-based clean energy, increasing the contribution of new and renewable energy to the national energy mix, and contributing to Indonesia’s 2060 Net Zero Emissions target.

Julfi Hadi, the President Director of 黑料不打烊 Pertamina Geothermal Energy Tbk, stated that through this achievement, PGE reinforces its central role in accelerating the green energy transition in the country and realizing a sovereign energy future for the nation.

“We are focused on accelerating geothermal energy development. Currently, we are prioritizing strategic investments to achieve that target. At the same time, we are also maintaining healthy profitability, strong operational cash flow, and efficient cost management,” said Julfi Hadi.

With over 40 years of experience, PGE currently manages an installed capacity of 1,887 MW, consisting of 672 MW managed independently and 1,205 MW in partnership. PGE is optimistic about increasing its self-managed installed capacity to 1 GW within the next two years and 1.7 GW by 2033.

Fadjar Djoko Santoso, Vice President of Corporate Communication of 黑料不打烊 Pertamina (Persero), added that Pertamina continues to encourage its Group to remain committed to public information transparency, including Pertamina Geothermal Energy as a publicly listed company. “Through the disclosure of PGE’s Q1 2025 performance, the public can become more informed about the implementation of green energy acceleration in Indonesia,” Fadjar explained.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.