PEFINDO has assigned its idAAA rating with stable outlook to Pertamina NRE

(8 May 2026)--PEFINDO has assigned its idAAA rating with stable outlook to PT Pertamina Power Indonesia (Pertamina NRE). The rating is mainly driven by the very strong likelihood of support from PT Pertamina (Persero) as the parent company. Pertamina NRE’s standalone credit profile reflects the Company’s very strong market position, as well as a secure revenue stream with stable profit margins. However, the rating is constrained by execution risks related to its project pipeline and exposure to geological risks.

The rating may be lowered if we view that there is a strong indication of weakening support from the Parent. Any change in the parent’s rating may also result in a similar rating action to Pertamina NRE.

Pertamina NRE is a sub-holding company under Pertamina focused on new and renewable energy development. The Company’s portfolio includes geothermal power operations with an installed capacity of 727 Megawatts (MW), gas-to-power project totaling 1,772 MW, operated directly and through joint ventures, respectively, as well as around 54 MWp solar photovoltaics (PV). As of December 31, 2025, its shareholders comprised PT Pertamina (Persero) with a 99.999% ownership and PT Pertamina Pedeve Indonesia (0.001%). (ends)