Jakarta: Pertamina Geothermal Energy has planned to expand its installed capacity from geothermal power plant in order to provide higher contribution to the reduction of greenhouse gas emissions in Indonesia.
"Our expansive plan will help Indonesia to achieve net zero emission target by 2060," Chief Financial Officer (CFO) Pertamina Geothermal Energy Nelwin Aldriansyah said during a discussion at the United Nations (UN) Global Compact on business ambition for climate action held virtually on late Wednesday (November 10).
As revealed on its official website, the UN Global Compact is a "voluntary initiative based on CEO commitments to implement universal sustainability principles, and take steps to support UN goals".
Aldriansyah said Pertamina Geothermal Energy (PGE) is planning to issue its own wind green bonds in the first half of next year (2022) aside from its holding company -- PT. Pertamina’s plan from issuing green bonds in 2022.
"Proceedings of green bonds will be used to refinance our existing conventional loans and also to finance our capex (capital expenditure) plan in developing new geothermal projects in Indonesia," he said.
With such an initiative, he further said, PGE expected to gain an additional 375 megawatts (MW) -- from its current 672 MW -- in installed capacity from its geothermal power plant in the next four years.
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