PGE targets record power and steam output in 2026
Wednesday, August 5 2026 - 02:54 PM WIB
By Cepi Setiadi
State geothermal developer PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) is targeting consolidated electricity and steam production of 5,255 GWh in 2026, up 3.14% from last year and potentially the highest annual output in the company's history, supported by stronger operational performance and the full contribution of the Lumut Balai Unit 2 geothermal power plant.
President Director Ahmad Yani said the company's first half performance provides a foundation for expanding geothermal operations and developing new businesses beyond electricity generation.
"The first half 2026 performance has strengthened our foundation to optimize existing assets, accelerate strategic projects, and develop new growth engines through beyond electricity initiatives," Ahmad Yani said during a media briefing in Jakarta on Tuesday.
PGE generated 2,745 GWh of electricity in the first six months of 2026, up 13.62% from 2,416 GWh a year earlier. The increase was driven by higher output from the Kamojang, Ulubelu, Lahendong and Karaha geothermal fields, as well as the full contribution from Lumut Balai Unit 2, which began commercial operations in late June 2025.
The company reported an availability factor of 99.71%, a capacity factor of 90.42% and an unplanned outage rate of 0.11%, with the capacity factor remaining above the global geothermal industry average of about 75% to 80%.
Higher production lifted first half financial performance, with revenue rising 14.7% year on year to US$235.03 million, net profit increasing 15.48% to US$79.61 million and gross profit growing 8.11% to US$130.4 million.
PGE aims to increase its installed generating capacity to 1 GW by 2028 and 1.8 GW by 2033. The company currently manages 15 geothermal working areas with a combined installed capacity of 1,932 MW, comprising 727 MW operated directly by PGE and 1,205 MW under joint operation contract schemes.
The company said its expansion plans are aligned with Indonesia's 2025 to 2034 electricity supply business plan (RUPTL), which targets an additional 5.2 GW of geothermal capacity nationwide.
Editing by Alexander Ginting