On 10th March, Exergy was hosted in Bandung by Pertamina Geothermal Energy TbK (PGE) for the signing ceremony of a MoU for the joint study development of geothermal power plant projects in Indonesia.

Exergy’s delegation including Luca Pozzoni, Paolo Danesi, and Chee Aun Kok were welcomed by PGE’s top management. The agreement was signed by Exergy’s general manager Luca Pozzoni and Mr. Ahmad Yuniarto, President of Pertamina Geothermal Energy.

Under this agreement Exergy and Pertamina will join their efforts for the development and optimization of geothermal energy utilization targeting as final result the pre-feasibility study review, including but not limiting to technical, financial, risk, and cooperation schemes which could be implemented. The areas of interest will be PGE “working areas” located in multiple geothermal sites in Indonesia.

Exergy had recently done a rebranding that underlines the role that the company will play in the new energy scenario. The company’s new image mirrors a renewed strategy amidst an evolving energy market.

PGE is aiming for an additional installed capacity of 600 MW by 2027. To this end, the state-owned geothermal developer has set a 250 USD million CAPEX budget for 2023 building towards a USD 1.6 billion investment in the next five years.