PT Pertamina Geothermal Energy Tbk (PGE) has officially signed a Non-Disclosure Agreement (NDA) with Kipas Holding, one of Turkey’s leading geothermal developers. The signing of the NDA indicates PGE’s seriousness in obtaining business expansion opportunities and cooperation with established and reputable geothermal entities.
Director of PT Pertamina Geothermal Energy Tbk, Julfi Hadi, stated that PGE has been committed to exploring cooperation opportunities with geothermal developers in various countries, including Turkey. He further explained that the collaboration with Kipas Holding, Turkey’s third largest geothermal supplier, presents a significant opportunity for PGE. The Turkish government’s policies towards geothermal energy have a positive impact on geothermal business development in the country. The government offers a clear and highly beneficial feed-in-tariff for long-term foreign investments.
Julfi emphasized that this collaboration is part of PGE’s global expansion efforts and strategic partnerships with various parties are essential. PGE currently has several NDAs with geothermal developers in Turkey. The visits and collaborations serve as concrete steps towards PGE’s commitment as a decarbonization agent, both nationally and internationally.
Furthermore, PGE hopes that their visit to Turkey, the country with the fastest geothermal growth in the world, will open up more opportunities for cooperation. In addition to Turkey, PGE has also initiated discussions on geothermal development cooperation with Kenya, which is currently ongoing.
Moving forward, PGE is committed to exploring more opportunities with financially reputable geothermal developers who possess expertise in geothermal management, installed capacity, and financial management.
The Indonesian Ambassador to Turkey, Achmad Rizal Purnama, appreciates the visit by PGE’s leadership. He believes that Turkey should be considered in future geothermal development plans. Factors such as the privatization of the geothermal sector slot game and attractive incentives for investors, particularly through the feed-in-tariff scheme, contribute to the assurance of product absorption and economic viability for developers. He hopes that this visit will provide positive input for PGE in managing geothermal energy in Indonesia.