Three geothermal power projects by Pertamina Geothermal Energy in Indonesia will be receiving $477 million in financing from JICA and The World Bank. Three geothermal power projects in Indonesia by state-owned developer and operator PT Pertamina Geothermal Energy (PGEO) are set to receive international financing with a total of USD 477.87 million. Jakarta – PT Pertamina (Persero) and PT PLN (Persero) have established a strategic partnership to accelerate the development of geothermal energy through 19 power projects with a total capacity of 530 megawatts (MW), with an investment value reaching USD 5.4 billion. State energy company PT Pertamina and State electricity company PT PLN have agreed to develop 19 geothermal energy projects with a total capacity of 530 Megawatts (MW) in support of self-sufficiency and accelerating the nation’s transition to clean energy. Pertamina, which was then continued by PGE, is also a pioneer of geothermal development in Indonesia, where one of the fields, the Kamojang Area, has been operating for 35 years with increasing installed capacity, starting with 30 MW in 1983, to 617 MW in the year 2018, and planned to increase 55 MW to 672 MW in 2019 with the operation of the. Four geothermal projects planned by Pertamina Geothermal Energy in Indonesia will be eligible for financing of up to USD 613m from multilateral institutions. PT Pertamina Geothermal Energy (PGEO) recorded a net profit of $43.90 million for Q1 2026, a 40% increase, with revenues rising 14.8% to $116.56 million. The company aims to expand its geothermal capacity by 3 GW, contributing to Indonesia's energy transition goals. PGE is investing in quick-win projects to increase installed capacity and geothermal production, which will ultimately strengthen the Company's long-term financial performance. Explore the booming geothermal sector in Indonesia in 2025, featuring new investments and developments by major companies. “A total of 19 existing projects with a combined capacity of around 530 MW will be accelerated through operational synergy and inter-entity coordination,” said PGEO’s management. With upcoming capacity additions and an assumed 80% capacity factor across the fleet, total output is expected to double by 2030 and peak at 12,168 GWh by 2033.