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Indonesia looking to boost share of renewables in energy mix

Geothermal Indonesia - interesting project for 2GT Group.

Indonesia's Pertamina eyes green finance with a focus on geothermal projects. Indonesia’s national oil and gas company is planning to issue its maiden green bonds within 12 months as it moves to secure funds to progress its renewable energy projects, in particular geothermal developments.

Pertamina finance director Emma Sri Martini said the bonds would help expand Pertamina’s green energy business to contribute between 10% and 15% of its total revenue within five years, compared to the current figure of less than 5%. In addition to the planned green bonds, subsidiary Pertamina Geothermal Energy has plans for its initial public offering plus there is the potential for a merger of the three Indonesian state-owned geothermal players.