In 2024, Pertamina Geothermal Energy Tbk (PGE) achieved remarkable financial milestones, underscoring its pivotal role in Indonesia's transition towards sustainable energy. With a reported revenue of USD 407.12 million, PGE not only surpassed its previous year's performance but also reinforced its commitment to green energy initiatives.

Financial Performance Overview

PGE's 2024 financial results reflect a robust and resilient business model. The company recorded a net profit of USD 160.30 million, demonstrating effective cost management and operational efficiency . This financial strength positions PGE as a leader in the geothermal energy sector, capable of sustaining growth amidst global economic challenges.​

Expansion of Geothermal Operations

A significant contributor to PGE's revenue growth was the expansion of its geothermal operations. The company increased electricity production to 4,827.22 GWh, marking a 1.96% rise compared to the previous year . Key geothermal areas such as Kamojang, Lahendong, and Lumut Balai experienced notable production increases, highlighting PGE's strategic focus on enhancing energy output through sustainable means.​

Commitment to Sustainable Energy Ecosystem

Beyond financial metrics, PGE's dedication to fostering a sustainable energy ecosystem is evident. The company actively promotes the development of geothermal energy as a cornerstone of Indonesia's green energy strategy . By investing in renewable energy projects and collaborating with stakeholders, PGE aims to reduce carbon emissions and support the nation's goal of achieving Net Zero Emissions by 2060.​

Strategic Partnerships and Global Engagement

PGE's vision extends beyond national borders, as demonstrated by its participation in international forums such as the New Zealand Geothermal Workshop 2024. Here, PGE emphasized Indonesia's potential to become a global leader in geothermal energy, leveraging its vast untapped resources . Such engagements not only elevate Indonesia's profile in the renewable energy sector but also open avenues for strategic partnerships and knowledge exchange.​

Future Outlook

Looking ahead, PGE is poised to continue its trajectory of sustainable growth. The company's strategic investments in geothermal projects, commitment to environmental stewardship, and focus on operational excellence position it to capitalize on the increasing demand for clean energy. As Indonesia advances its energy transition agenda, PGE's role as a key player in the renewable energy landscape is set to become even more prominent.​