PLN wants to acquire PGE
Wednesday, August 3 2016 - 02:35 AM WIB
State-owned electricity company PT PLN has expressed interest to acquire PT Pertamina Geothermal Energi (PGE), a subsidiary of state-owned oil and gas company PT Pertamina.
But the Office of the State Ministry of State Owned Enterprises has yet to give green light to the proposed acquisition. ?We?re still discussing it with the ministry and other stakeholders,? said PLN President Director Sofyan Basir to petromindo.com late on Tuesday.
He said that the proposed acquisition of PGE is made to help accelerate the development of renewable energy sources in the country. He declined to provide further details.
Meanwhile, Pertamina Vice President for Corporate Communications Wianda Pusponegoro stressed that the company is committed in developing the geothermal energy sector in the country, pointing out to the US$15.9 billion investment plan committed until 2030. ?There?s no other company with commitment such as Pertamina?s to develop geothermal energy,? she told petromindo.com, adding that the company is currently simultaneously developing seven geothermal power plant projects with total investment of $2.5 billion.
Among of PGE?s ongoing geothermal power plant projects are Lahendong (2x20 MW) in North Sulawesi, Karaha (1x30 MW) in West Java, Ulubelu (2x55 MW) in Lampung, Lumut Balai (4x55 MW) in South Sumatra, Hululais (2x55 MW) in Bengkulu, and Sungai Penuh (2x55 MW) in Jambi.
Editing by Reiner Simanjuntak