PGE Eyes Funding from Wind Green Bond

Summary

PT Pertamina Geothermal Energy (PGE) plans to issue a wind green bond in the first half of 2022 to increase its geothermal power plants (PLTP) capacity. PGE Chief Financial Officer Nelwin Aldriansyah said the issuance is not part of PT Pertamina's green bond plan in the same year. "The green bond will be used for refinancing conventional loans and to finance our capital expenditure plan in developing new geothermal projects in Indonesia," Nelwin said in a written statement. 

PGE expects to add up to 375 megawatts (MW) installed capacity in the power plant in the next four years from the current 672 MW. The Pertamina subsidiary targets the total PLTP installed capacity to reach 1,500 MW by 2030. Nelwin is optimistic that the additional capacity will raise PGE's contributions to Pertamina's decarbonizing and 30 percent emission reduction plans in 2030.

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