PT Pertamina Geothermal Energy Tbk (PGE) Emphasizes Commitment to Sustainability at Pertamina Investor Day 2024
Jakarta, June 25, 2024 – PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) actively fosters sustainable relationships with strategic stakeholders, particularly investors. At Pertamina Investor Day 2024, themed "Optimizing Sustainable Growth," PGE showcased its excellence in sustainability initiatives within its business operations, positioning the Company as a potential driver of Pertamina Group's transformation towards sustainability.
Pertamina Investor Day is an interaction platform between investors and Pertamina Group through various agendas such as earnings calls, dialogue forums, and visits to several Pertamina operational areas, including the PGE Lahendong Area. During the site visit to PGE Lahendong Area, accompanied by a sustainability dialogue event, the Director of Finance of PT Pertamina (Persero), Emma Sri Martini, emphasized the importance of collaboration between the government, stakeholders, and the Company in advancing a policy ecosystem friendly to new and renewable energy, especially geothermal.
"Geothermal is the future, not only for Pertamina Group but also for Indonesia. We need to unlock the potential of this abundant resource. Let's collectively improve the investment policy climate towards a cleaner energy transition. My deepest appreciation goes to PGE Lahendong Area for supporting long-term sustainable growth, which is beneficial for the environment and society, while presenting good investment opportunities," said Emma Sri Martini during the discussion at the Four Points Hotel, Manado (6/21).
On the second day (6/22), the delegation visited the Lahendong Geothermal Working Area (WKP), which has a production capacity of up to 120 MW from six Geothermal Power Plants (PLTP), contributing up to 30% of the electricity needs in North Sulawesi and Gorontalo (Sulutgo). The delegation also visited Lao-Lao Geothermal Park, Indonesia's first hot spring pool utilizing geothermal energy directly (direct use). This visit demonstrated that geothermal energy has significant potential as a backbone of green energy in the national energy transition and a driver of the tourism industry (beyond electricity).
PGE Lahendong Area also plans business development through various new revenue stream initiatives, such as adding units projected to increase capacity to 150 MW in 2026 and 200 MW in 2029 and new business schemes through strategic partnerships. Additionally, several initiatives, including process heat & geo-agribusiness, Lao-Lao Geothermal Park, and green hydrogen, will contribute as new revenue sources for the Company.
Furthermore, PGE is developing a Green Ecosystem to support ESG goals through various CSR programs, such as the Mapalus Tumompaso program in the PGE Lahendong Area. Implementing the Green Ecosystem has successfully reduced waste by up to 16.3 tons per year and decreased emissions by up to 4,654.7 tons of CO2 annually. The ESG commitment through various initiatives in the PGE Lahendong Area was evidenced by achieving the PROPER Gold award in 2023.
Finance Director of PGE, Yurizki Rio, emphasized that PGE's various initiatives in upholding ESG aspects are the Company's proactive steps in optimizing new and renewable energy sources, reducing emissions, and implementing responsible operational practices.
"The renewable energy sector, especially geothermal, represents a potential investment opportunity for a greener future. PGE not only supports national zero-emission aspirations but also empowers communities and positively and sustainably preserves the environment,” Yurizki Rio said.
Vice President of Corporate Communication Pertamina, Fadjar Djoko Santoso, stated that Pertamina fully supports various sustainable programs carried out by sub-holdings and subsidiaries.
"With the support of stakeholders, Pertamina is committed to running a sustainable business to achieve national energy resilience and independence," Fadjar said.