PGEO - PT. Pertamina Geothermal Energy Tbk

Rp 1.225

+20 (+2,00%)

JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO), an energy group under Pertamina Group, announces its commitment as a global company by expanding its geothermal business to Kenya, Africa.

Julfi Hadi, President Director of PGEO, said that so far, this company has eyed several countries as its target market for cross-border expansion, starting from Africa to Europe and Asia.

“We will still fulfil our commitment to become #1 GW company in the next two years,” Hadi said in the official statement.

Hadi said that Kenya is the initial phase of PGEO’s cross-continent expansion. The reason behind this decision, he reveals, is that Kenya is deemed as a country in Eastern Africa that shows stable economic growth.

The geothermal capacity of Kenya is projected to reach 865 megawatts (MW). In 2030, Kenya has a target of installed geothermal capacity of 5,530 MW.

“With all those potential and opportunities in the global market, we expect to gain contribution for domestic foreign exchange income,” Hadi added. (KR/ZH)