History of the Company

The Company is a subsidiary of PT Pertamina (Persero) with PT Pertamina Dana Ventura. The company does business in geothermal energy utilizations. It bears a critical role for the community in contributing an environment-friendly and renewable alternative energy source, especially in Indonesia. Utilizations of geothermal energy have been conducted since the 1980s.

Since 1974 Pertamina has been conducting explorations and exploitation activities by identifying 70 high temperature geothermal areas that can be used to generate electricity. These areas are spread all over Indonesia, such as in Sumatera, Java, Bali, Nusa Tenggara, Maluku, and Sulawesi. These efforts showed a good result due to the official announcement of Kamojang field in West Java on the January 29, 1983. Geothermal energy in that field was used to run Kamojang’s Unit 1 Geothermal Power Plant (PLTP) with generator capacity of 30 MW. In Sumatera, 2 MW Monoblok Geothermal Power Plant operated for the first time in Sibayak-Brastagi. In 2004, the first Geothermal Power Plant in Sulawesi with 20 MW capacities was operated in Lahendong.

With the enactment of The Presidential Decree Number 76 year 2000, Pertamina no longer has monopoly rights to manage geothermal energy in Indonesia. Therefore, Pertamina returned 16 out of 31 of its geothermal Business Working Areas to the government.

On the September 17, 2003 Pertamina was changed into PT Pertamina (Persero). Under the Governmental Regulation Number 31 year 2003, PT Pertamina (Persero) was mandated to transfer their geothermal business to a Subsidiary, at least in two years after the LLC or perseroan was formed. In that regards, PT Pertamina (Persero) formed PT Pertamina Geothermal Energy (the Company) as the Subsidiary that will manage business activities in geothermal. The Company was finally established based on the Certificate Number 10, dated on December 12, 2006 and legalized by the Indonesian Minister of Justice and Human Rights, bearing the Decision Letter Number W7-00089HT.01.01-TH.2007, dated on January 3, 2007.

The Company was founded with the intention to hold a business in geothermal from the upstream and/or downstream, nationally or internationally, along with other related or supporting business activities in geothermal, by implementing the principles of Limited Liability Company or Perseroan Terbatas.