Masdar invests in Indonesian geothermal projects

Masdar has announced a strategic investment in Pertamina Geothermal Energy (PGE) to enter the geothermal energy sector. The investment will support Indonesia's energy transition and the country's goal of increasing its installed geothermal capacity from 2.8 GW in 2022 to 6.2 GW by 2030.

PGE has been operating geothermal facilities in Indonesia for the past 40 years and has a portfolio capacity exceeding 1.87 GW. The company aims to develop an additional 600 MW capacity over the next five years to support Indonesia's renewable energy mix.

The investment in PGE marks Masdar's entrance into the geothermal energy sector, adding to its existing portfolio of renewable energy technologies, including wind, solar, and energy storage. The investment will enable Masdar to leverage its experience in developing renewable energy projects and support Indonesia in achieving its renewable energy goals.