en.Wedoany.com Reported - PT Pertamina Geothermal Energy (PGEO), a geothermal subsidiary of Indonesia's state-owned oil company Pertamina, has secured a total of $477.87 million in international financing for the construction of three geothermal power plants.

The three projects are: Lumut Balai Unit 3 (with an installed capacity of 55 MW and a target commissioning year of 2030), which secured $158.86 million in financing from the Japan International Cooperation Agency (JICA); Lumut Balai Unit 4 (55 MW, target commissioning year 2032), which secured $149.87 million from JICA; and Lahendong Units 7-8 (2 x 20 MW, target commissioning year 2030), which secured $170.04 million from the World Bank.

These projects were previously included in the 2025-2029 Blue Book by Indonesia's Ministry of National Development Planning (PPN/Bappenas), thereby qualifying them for foreign funding through concessional loan schemes. Subsequently, the same agency listed these projects in the 2026 Green Book, designating them as priority projects for foreign loans that year.

Updated information from PGEO indicates that infrastructure work to prepare for drilling at Lumut Balai Unit 3 has commenced. Technical documents for Lahendong Units 7-8 have also been submitted to Indonesia's state electricity company, PT PLN, as part of the evaluation process for signing a Power Purchase Agreement (PPA).

In a written statement, PGEO President Director Ahmad Yani stated that securing international financing sources helps the company maintain a healthy capital structure and attracts attention from more potential strategic partners and global financing institutions for the projects.

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