{"id":990118,"date":"2025-08-06T05:38:53","date_gmt":"2025-08-05T22:38:53","guid":{"rendered":"https:\/\/bahana.boone.co.id\/?p=990118"},"modified":"2026-01-26T19:39:56","modified_gmt":"2026-01-26T12:39:56","slug":"pertamina-geothermal-energy-pgeo-ij-not-rated-%e2%9a%a1-bocoran-strategi-proyek-energi-bersih-yang-akan-datang-%f0%9f%a4%a9","status":"publish","type":"post","link":"https:\/\/bahana.boone.co.id\/en\/pertamina-geothermal-energy-pgeo-ij-not-rated-%e2%9a%a1-bocoran-strategi-proyek-energi-bersih-yang-akan-datang-%f0%9f%a4%a9\/","title":{"rendered":"Pertamina Geothermal Energy (PGEO IJ \u2013 Not Rated) \u26a1 : Leaked Strategy & Net Energy Project \ud83e\udd29"},"content":{"rendered":"
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Analyst:\u00a0Jeremy Mikael<\/strong><\/p>

PGEO started 2025 with a relatively stable performance, despite the few challenges.<\/strong>\u00a0Electricity Production at 1H25 Rises Slightly\u00a0+1.6% Y-Y to 2,416 GWh<\/strong>. The selling price of electricity is slightly down, while production costs have risen, so\u00a0Core profit recorded USD78.5Mn (-7% Y-Y)<\/strong>. Even so, Margin remains healthy in\u00a059%<\/strong>, shows Pgeo is able to maintain performance while preparing for a major expansion forward.\u00a0So what about the project and future expansion? Let's see the hottest info from Pgeo below:<\/em><\/p>

\ud83d\ude80 Strategic Projects & MOUs<\/strong>
MoU with PLN & Danantantara Securing\u00a0530mw project<\/strong>, with\u00a0405mW already has a PPA<\/strong>, provide executor of execution and revenue certainty. The Co-Generation Binary Plant initiative is projected to increase\u00a010\u201315% Capacity<\/strong>\u00a0at a lower cost (USD3\u20133.5MN\/MW vs. USD5\u20135.5MN\/MW<\/strong>).<\/p>

\ud83d\udd0b Business & Finance Expansion<\/strong>
Pgeo is exploring\u00a0Green Hydrogen<\/strong>\u00a0(Ulubelu 100kg\/day, COD 2026E) and\u00a0Green ammonia<\/strong>\u00a0To open a new revenue stream. in\u00a0Cash USD712Mn & Gearing 0.4x<\/strong>, PGEO has additional debt space\u00a0USD1.2\u20131.3bn<\/strong>\u00a0to fund\u00a0Capex USD5\u20136BN until 2033<\/strong>, supported by internal cash flow & potential strategic partnership.<\/p>

\u26a0\ufe0f Main risks:<\/strong>\u00a0Project execution risk, changes in government policies, increased financing costs, and fluctuations in electricity and currency prices.<\/p>

\ud83d\udcdd\u00a0Full pdf:\u00a0BSPGEO0825<\/a><\/strong><\/p>

Disclaimer:<\/strong>
Buying and selling decisions are personal responsibility.<\/p>

Regards,<\/strong>
Investment Specialist<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

PGEO tetap solid di awal 2025 – margin terjaga, proyek 530MW sudah di tangan, dan ekspansi hijau siap jadi mesin pertumbuhan baru.<\/p>","protected":false},"author":1,"featured_media":990120,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-990118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/990118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/comments?post=990118"}],"version-history":[{"count":13,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/990118\/revisions"}],"predecessor-version":[{"id":993254,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/990118\/revisions\/993254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/media\/990120"}],"wp:attachment":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/media?parent=990118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/categories?post=990118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/tags?post=990118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}